Flutter Entertainment’s Sportsbet brand has agreed a new five-year partnership with Australia’s Melbourne Racing Club (MRC).
Commencing in January, Sportsbet will replace Entain as sponsor of Caulfield Cup Carnival and the Caulfield Cup, one of the most iconic races on the Australian calendar.
Sportsbet’s record sponsorship deal will also extend to the MRC’s other tracks at Sandown and Mornington.
“This is the most significant partnership in the Club’s history, and we’re thrilled to be working with Sportsbet, Australia’s largest wagering provider, to open up the sport to more audiences and futureproof racing on the sporting stage,” said Melbourne Racing Club CEO Josh Blanksby.
“We’re excited by the opportunities that partnering with a such an iconic brand in the sport and racing spaces presents, and we look forward to introducing a greater sporting audience to our racing product through Sportsbet’s impressive market share.”
The agreement will also see Sportsbet contribute AUD$125,000 each year to the MRC Foundation, which houses the club’s charitable and community work and aims to support local communities and help racing industry participants.
“Sportsbet is excited to partner with the MRC, an incredibly successful and progressive Club, and we look forward to bringing to life our shared ambition of attracting new audiences to racing,” said Sportsbet CEO Barni Evans. “We’re always looking to do more for the community and we’re particularly proud to be contributing $125,000 each year of the partnership to the MRC Foundation, supporting local communities and helping racing industry participants.”
Shares Flutter Entertainment plc. (LSE:FLTR) were trading 0.52 per cent lower at 13,335.00 pence per share in London early Monday morning.