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News Corp Ready To Enter Sports Betting Market In Australia

Posted on April 27, 2022 | 5:15 pm

News Corp, one of the largest media companies in the world, has announced that it is finally ready to launch a new sports betting business in Australia through a venture with Matt Tripp, an industry veteran, and Tekkorp Capital, an investment and advisory company. Matt Tripp is an online sports betting pioneer, he is the founder and former Chairman of Sportsbet and the Chief Executive Officer of BetEasy.

Tekkorp Capital announced that it is willing to “invest heavily” in the new online sports betting brand, but didn’t reveal any specific details. However, the new venture announced that the platform and services provider has already been selected: BetMakers Technology Group.

Matt Davey, the Chief Executive Officer of Tekkcorp Capital, and Robin Chhabra, the President of the company, will be a part of the board of directors of the new venture.

Robin Chhabra explained why his company chose to embark on this journey: “The Australian online sports betting market has been booming but is ripe for innovation and competition. This consortium has the mix of skills, experience, and capital to become a significant player.”

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Looking For An Opportunity

News Corp, the famous media business, has been looking for an opportunity to enter the sports betting market for more than a year. It owns several newspapers and websites in Australia, the United Kingdom and the United States of America, and those outlets will surely be used to promote the new sports betting brand.

The new brand is expected to launch in time for the Australian spring horse racing season, which kicks off in August. Last year, Fox Corporation, another giant media business, considered a bid for Tabcorp’s Wagering Division but eventually decided against making an offer.

BetMakers revealed that it signed a ten-year deal with the new sports betting brand and added that the partnership has the potential to generate revenue of more than 300 million dollars for the company.

Todd Buckingham, the Chief Executive Officer of BetMakers, underlined that this deal “cements the company as a leading provider of B2B platforms and software to the wagering industry.” Moreover, the CEO added that such a significant partnership would also play a significant part in the company’s expansion on the international market.

Source: “News Corp to enter Australia sports betting market, with Tekkorp, Tripp“Asia Gaming Brief. April 21, 2022.

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