Facing stiff competition from Racing Victoria which formed a joint venture with Seven West Media to create Racing.com, wagering giant Tabcorp is shelling out big money to protect its horse racing broadcast rights in Australia and New Zealand.
Tabcorp has been spending big amounts to maintain access to vision in Western Australia, and is currently in talks with racing authorities in South Australia and New Zealand to extend deals.
The wagering company will reportedly pay around $26 million over the next six years for broadcast rights in Western Australia. That’s around 10 times more than Tabcorp has been paying previously.
The renewed partnership provides Tabcorp’s subsidiary, Sky Racing, with domestic, digital and international rights for all harness and greyhound racing across Western Australia and thoroughbred racing outside of Perth. Sky Racing is broadcast to 2.9 million homes and 5,500 pubs, clubs and TAB agencies around Australia, as well through its digital channels.
In South Australia, Tabcorp is in an exclusive negotiating period with racing authorities. It holds “first” and “last” rights, meaning it can negotiate before others and match any bids that may come in once the exclusive period ends. Racing.com is said to be keen to bid.
New Zealand racing authorities, on the other hand, have been locked in negotiations with both Tabcorp and Racing.com for the past year, according to the Australian Financial Review.
Established in August 2015, Racing.com broadcasts Victorian thoroughbred racing and Hong Kong racing. But Tabcorp, along with several other corporate bookmakers, also streams Victorian racing on their websites.