Connect with us
SIS

Industry News

Tabcorp to exit Sun Bets

Niji Narayan

Published

on

Tabcorp to exit Sun Bets
Reading Time: 2 minutes

Online gaming company Tabcorp has signed an agreement to exit Sun Bets, which was the company’s joint venture in the UK with News UK. UK-facing Sun Bets, which was a joint venture with News UK.

Sun Bets will stop trading and Tabcorp will pay £39.5m (€44.2m/$51.4m) to exit the venture.

The Sun Bets was launched in 2016 under the branding of News UK newspaper title The Sun.

However, the platform has not performed as expected during its short lifetime and reports last month suggested Tabcorp was close to pulling out of the venture.

David Attenborough, managing director and chief executive of Tabcorp, said: “The performance of Sun Bets has been below expectations and we do not expect a material improvement over the next 18 months. As such, we have reached an agreement with News UK to exit the agreement.

“While we didn’t get it right, we have taken valuable learnings from the Sun Bets start-up process and operations which will inform our approach across our portfolio.”

“I would like to acknowledge the Sun Bets team for their efforts in building the business from start-up phase.”

“We continue to have a strong relationship with News Corporation.”

Today’s confirmation comes after Tabcorp last year said it was to undertake a strategic review of its business after being hit by challenging trading conditions.

In February, Tabcorp also reported a 58.2 per cent drop in first-half statutory net profit after tax to Aus$24.6m, while NPAT before significant items also fell 20.2 per cent to Aus$82m.

A spokesperson for News UK said: “The Sun is the No.1 newspaper and digital news brand in the UK and we have launched many successful brand extensions such as Sun Bingo and Dream Team.”

“We are increasingly confident in the reach and power of the brand and will firmly remain in the betting and gaming business.”

“We now look forward to executing our vision.”

Visitors to the Sun Bets site are now met with a message that reads: “Tabcorp UK Ltd has ceased providing gaming services on behalf of Sun Bets. Please withdraw any funds you may hold with us immediately.”

 

Source: igamingbusiness.com

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

Continue Reading
Advertisement
Comments

Industry News

TÜV Thüringen Certifies Sportradar AG’s Customer Care Unit for ISO 9001:2015

Niji Narayan

Published

on

TÜV Thüringen Certifies Sportradar AG’s Customer Care Unit for ISO 9001:2015
Reading Time: 1 minute

 

Sportradar AG, the world’s leading sports data analyser, has obtained the International Organisation for Standardisation (ISO) norm 9001:2015 from TÜV Thüringen for its global customer care unit. Sportradar AG’s customer care unit won the award for ‘Best Customer Service’ at last year’s EGR B2B Awards. It has been ISO-certified since 2014. The latest audit confirms the flawless Quality Management System (QMS) of Sportradar AG’s global customer care unit that delivers Customer Support, Certification Services and Technical Integration Support to Customers of Sportradar AG matches the ISO norm 9001:2015.

“Embarking in this direction and successfully passing the certification demonstrate our continued commitment to the highest global standards in customer service, operational excellence and quality management across all Sportradar entities,” said Daniel Rossmann, Director of Customer Care at Sportradar AG. “To be recognised with this internationally respected certification and have it renewed multiple times already demonstrates a great team effort which I am truly proud of.”

Continue Reading

Industry News

Portugal Reviews Gambling Tax Regime

Niji Narayan

Published

on

Portugal Reviews Gambling Tax Regime
Reading Time: 1 minute

 

The government of Portugal has started the review of its existing gambling tax regime. The government has appointed a working group for analysing the state of the country’s online gambling industry and finding any possible changes required in the system. The working group comprises six members, including representatives from SRIJ and Portugal’s Ministries of Finance, Economy, Tourism, and Labour. They have to submit their findings and proposals within 30 days.

The existing gambling law in the country came into force in 2015. The country’s gambling regulator Serviço de Regulação Inspeção de Jogos (SRIJ) first licensed a foreign company in May 2016, which started a new era in the provision of regulated gaming and betting services to Portuguese customers. The regulatory body has issued a total of 16 licenses since then.

While the reorganisation of Portugal’s market was generally welcomed by EU authorities and industry stakeholders, the country’s taxation regime was heavily criticised and rates were deemed too high to offer viable prospects for the nascent market.

Continue Reading

Industry News

Irish Gaming Startup WarDucks Obtains €3.3 Million Funding

Niji Narayan

Published

on

Irish Gaming Startup WarDucks Obtains €3.3 Million Funding
Reading Time: 1 minute

 

WarDucks, a Dublin-based augmented reality (AR) gaming startup, has raised a funding worth €3.3 million from EQT Ventures, which offered the funding with participation from Suir Valley Ventures and other investors. The startup will develop a location-based mobile AR game using the funds.

Nikki Lannen, who had worked in Facebook’s gaming department, founded WarDucks. He has added an excellent team comprising Doug Kaufman, the game designer behind Civilisation II and Frontierville, John Romero, pioneer of the first person shooter (FPS). The company has already developed some niche games for the segment.

EQT Ventures mentioned in a press release that WarDucks was first discovered by Motherbrain, the company’s AI-powered deal sourcing platform.

Continue Reading
Advertisement
NSoft

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Latest by author

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.