Tabcorps Strikes a New Deal & Sportsbet Calls for Reduced Advertisement
The Australian casino and gambling scene is always full of controversy and news that are worth reporting. The latest piece of news includes one of the big names in the industry of sports betting, the online Australian bookmaker, Sportsbet. This operator is calling the Aussie government to cut down on the amount of gambling and casino related advertisement that is allows, because of the increase that the industry is witnessing in marketing spending. According to reports, the Australian gambling bookmakers and operators have spent almost 147 million dollars for marketing and advertisement this last year, which is a great increase from 2012’s number which amounted up to 45 million dollars. This makes the gambling industry the 4th biggest industry when it comes to advertising spending.
Cormac Barry, the CEO of Sportsbet has stated during an interview with Aussie local news that the Aussie government should really find a balance between the legit concerns of the community when it comes to advertisement and allowing the bookmakers to advertise to reach their clients. The government must differentiate whether the advertisement is appropriate or not, for example, is it appropriate in public areas or on the merchandise of sports teams? Sportsbet is not the only bookmaker that adopts this point of view, as other operators, like Crownbet and Tabcorp agree on the proposal set by Sportsbet. In addition, they are also calling for the Aussie government to regulate and allows for self exclusions programs, which is a system that allows players to voluntarily block themselves out of gambling and sports betting websites if they want. Last year, Barry O’Farrell, the ex-premier of New South Wales was tasked with reviewing the current laws and regulations of the IGA (Interactive Gambling Act). The findings of Barry O’Farrell are going to be released to the public soon, on the other hand, Cormac Barry has stated that he believes that the Aussie market is in need of a British like regulator to police and regulate the industry in Australia.
In other news, Tabcorp, one of the biggest Australian operators has extended its already existing sponsorship agreement with the VRC (Victoria Racing Club) to reach the year 2024. This new 8 year deal, which is going to come into effect on the 1st of August, is going to see Tabcorp remain in its position as the official betting partner for the Melbourne cup carnival as well as the Victoria Racing Club. This was not only an extension, as there were some new elements to the already existing agreement which would see that Tabcorp would be granted support sponsorship of Emirates Melbourne Cup Tour as well as the naming rights of the Australian Cup Group 1.
David Attenborough, the CEO and Managing Director of Tabcorp stated that the VRC is certainly one of the premier racing clubs in the world and that they are more than delighted to extend the partnership. Tabcorp is one of the top 100 companies that are publicly listed on the Securities Exchange Australian.