Tabcorp Launches New Sports Betting App
Although you will not find Tabcorp in any Australian online casino reviews sections, the gaming company is a significant player in the Australian gambling industry. Founded in 1994, Tabcorp has revenues of over $5 billion, an impressive figure it is looking to grow with the launch of a new sports betting app. The new sports betting app is available via Google Play or the Apple Play Store. It is a significant improvement over Tabcorp’s older version.
Tabcorp developed the sports betting app using Google’s open-source “Flutter” software. The new app is faster and more intuitive, making it easier for punters to place wagers. In addition, users can access a wealth of information to help the customer become more profitable. Profitable customers are returning customers, which is good news for Tabcorp’s bottom line.
Customer feedback helped create the sports betting app Tabcorp’s customers want. The Flutter software’s ease of use makes it possible for Tabcorp to continually update the app, tweaking it to customers’ behaviours.
“We want to be customer obsessed in everything we do,” Tabcorp CEO Adam Rytenskild said. “This is the first of what will be regular updates of our app to transform the digital wagering experience for punters.”
The Flutter software allows Tabcorp to roll out regular updates, even as frequently as bi-weekly.
Sports Betting App Goes Live as eBet Sells For $62 Million
The new Tabcorp sports betting app is live and available to download by Australians. It is a case of out with the old and in with the new as the company sold its eBet business for $62 million. The eBet part of Tabcorp’s business served approximately 525 gaming properties in New South Wales and Victoria. According to the Australian Financial Review, the system links 58,000 gaming machines.
Tabcorp developed eBet to look after the loyalty and tracking parts of its business. The business rewards loyal customers, such as the free spins casinos offer frequent players. Although eBet focuses entirely on brick-and-mortar venues, it has the scope to deliver to real money online pokies players or those who regularly play online blackjack.
Venue Digital Technology Pty Ltd is the company purchasing eBet. Former Tabcorp executive Frank Makryllos founded the company, which agreed to a $62 million fee. The deal puts Tabcorp in a win-win situation because rules in the agreement see Tabcorp awarded between $3-10 million if the deal falls through.
Makryllos is delighted to be involved with eBet again.
“I am excited about leading the eBet business again. We have been planning this transaction for some time and have brought together a highly experienced executive team with strong industry knowledge that will work with the existing eBet tam and immediately refocus the business on our customers and innovation.”
This Is Not The Last Tabcorp Sale
The launch of a revamped sports betting app marks a new direction for Tabcorp, but the sale of eBet is far from the last transaction involving the Australian gaming giant. A number of fellow gaming companies have their eye on Tabcorp’s Wagering and Media business. Indeed, several companies have thrown their hats into the ring over the past 18 months.
Entain Plc, the owners of PartyPoker and Ladbrokes, was the first to show a genuine interest in Tabcorp’s Wagering and Media business. Entain offered $3 billion, but Tabcorp rejected the approach.
Fox Corporation considered making an offer but never pulled the trigger.
Apollo Global Management was the latest company that made a legitimate offer. It bid $4 billion in May 2021 for the Wagering & Media and Gaming Services business. The proposal included $3.5 billion for the Wagering and Media arm alone. Tabcorp considered the Apollo offer before rejecting it.
The launch of the new sports betting app should, in theory, help Tabcorp close the gap on its rivals. The company has been slow to adapt to the changing sports betting markets, particularly online, resulting in it losing ground. A successful uptake of the app should see fresh bids emerge for Tabcorp.
