Tabcorp signs 10-year Sportsbet extension

Tabcorp has extended its digital vision supply agreement with Sportsbet by another 10 years.

Sportsbet is subsequently able to broadcast Sky Racing 1 and Sky Racing 2 vision live within its betting app and website, with Sky the exclusive provider.

The terms of the agreement, which runs until July 2036, are “broadly similar to the existing arrangements,” Tabcorp said, with the new deal estimated to generate between AU$30m and $40m in EBITDA in FY24.

Adam Rytenskild, Tabcorp’s managing director and CEO, said: “Sky is the home of racing, with more racing punter eyeballs than any other channel and is the major driver of racing wagering in Australia.

“With more than 150,000 races broadcast live around the world every year and the best team in racing, the extension of this agreement recognises Sky as one of the best and most valuable racing networks in the world.

“It’s also great news for racing clubs who will have more eyes on their meetings than ever before.

“The agreement extends our most significant digital rights revenue stream to 2036.

“Tabcorp is continuing to build momentum towards TAB25 with a new app, new products and faster speed to market as part of our transformation.”