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Tabcorp to Enter UK Gambling Market with The Sun

Tabcorp to Enter UK Gambling Market with The Sun

Despite increasing levels of competition from foreign gambling operators Australia’s largest bookmaker, Tabcorp, has decided to enter the UK market.

The bookmaker is teaming up with The Sun newspaper to launch Sun Bets within the next six months. Tabcorp will provide the gambling platform and products and News UK will promote the venture via The Sun newspaper. Tabcorp made pre-tax profit of $240 million last year and it is spending A$20 million over the next twelve months in order to launch the UK venture.

In the UK web-based revenues are worth £3 billion a year and there are 427 licensed operators in the UK according to the Gambling Commission. It is thought that well over half of the UK’s gambling population read The Sun on a regular basis which should provide Tabcorp with a strong footing on which to build.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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