Tabcorp and Racing Victoria agree broadcast terms

Australian betting operator Tabcorp has announced that it has ended its broadcast stand-off with race track operator Racing Victoria, following months of deadlock negotiations regarding distribution rights.

Both Racing Victoria and Tabcorp governance have agreed terms for Victoria race fixtures to be broadcast on Sky Racing 1 network. The broadcast will bring a much needed boost to Racing Victoria and Tabcorp racing divisions, which had noted wagering declines during the blackout period of 20 percent.

Australian business news sources have reported that the new media terms agreed on are set to be worth AUS$10 million for a five year partnership, a figure way below Racing Victoria’s target. Racing Victoria fixtures will be broadcast to more than 50 countries.

Prior to the end of its deadlock, Racing Victoria management had been eyeing the potential launch of its own subscription based TV racing channel utilising the Seven Platform.

The end of the black-out between the two parties comes in time for the start of the Spring Racing Carnival season (start date – 12 September), which are a set of key fixtures for Australian racing.

Read more:…


Related Articles

Tabcorp EBITDA hit from power outage less than $10 million

Tabcorp said a power outage that took out its systems over the weekend caused it to lose wagering turnover over the weekend, but the hit to EBITDA will be less than $10 million. It says its systems have now largely been restored. 
Australia tabcorp

Tabcorp digital turnover grows, though group posts loss

Tabcorp digital turnover outstripped retail turnover for the first time in a full year after Covid-19 forced the closure of its outlets and tipped the group to an $870 million ($631.8 million) loss.

Tabcorp secures debt waivers as part of Covid-19 response

Australian wagering giant Tabcorp announced it has secured agreement from its bank lenders for a waiver of leverage and interest cover covenants in response to the financial impact of the Covid-19 pandemic.  The waiver is related to its Syndicated Facility Agreement, representing facilities of A$2.2 billion (US$1.6 billion), according to a company filing. As of […]

Tabcorp lottery segment drives FY20H1 revenue

Australian wagering giant Tabcorp announced a 4.4 percent increase in group revenue for the first half of the 2020 financial year, driven by performance in its lotteries business.  The company said that it registered more than 300,000 new customers in the past six months – translating to strong growth in both digital and retail lotteries […]