Tabcorp extends Sky Racing deal with Flutter’s Sportsbet

Sydney-listed betting and gaming operator Tabcorp has extended its Sky Racing digital rights partnership with Flutter Entertainment’s Sportsbet until 31 July 2036.

The ten-year extension of the existing digital vision supply agreement allows Sportsbet to broadcast Sky Racing 1 and Sky Racing 2 live in their betting app and website, with Sky as the exclusive provider.

The terms of the agreement remain the same, including a link to Sportsbet turnover, and is expected to generate EBITDA of between AUD$30 million and $40 million in Tabcorp’s 2024 financial year.

“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,” said Tabcorp managing director and CEO Adam Rytenskild. “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.”

Shares in Tabcorp Holdings Ltd (ASX:TAH) closed 0.93 per cent lower at $1.06 per share in Sydney Monday.