News Corp Australia is “in the final stages” of securing a partnership that will see it launch a bookmaking business – likely to be a lucrative gamble given the company’s heavy investment in sporting content.
Announcing to the SMH, who quote “multiple wagering sources”, the partner will provide the technology infrastructure, while News Corp will provide the clout.
Given the company’s strong Kayo offering, on top of Foxtel’s continued investment in 4K broadcasting of sports, including the recent Ashes test, such a product could sit neatly within either product, providing an ecosystem to place bets on its 50 different code offerings, all without leaving the app.
Foxtel already quotes live sports betting odds during some games. New Corp also owns Punters.com.au and Racenet, both racing bet sites that take commissions from third-party betting companies.
ARLC chairman and Racing NSW boss Peter V’landys is hotly tipped to head up the new enterprise, but denied this to SMH.
“I have not received an approach from News Corp about the joint venture or had any talks about leading the company. In fact, I have no discussions whatsoever about the matter,” Mr V’landys said.
