Tabcorp Holdings Limited (Tabcorp) has extended a digital vision supply agreement with Sportsbet by a further 10 years until 31 July 2036.
The extension of the existing agreement allows Sportsbet to broadcast Sky Racing 1 and Sky Racing 2 vision live in their betting App and website, with Sky as the exclusive provider.
The terms of the extended agreement are broadly similar to the existing arrangements including a link to Sportsbet turnover. It is expected the agreement will generate between $30m-$40m EBITDA in FY24.
Tabcorp Managing Director and Chief Executive Officer Adam Rytenskild said: “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.
“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 mometum towards TAB25 with a new App, new products and faster speed to market as part of our transformation.”