Tag Archives: Horse racing

Tab NZ misses profit budget again in November

Tab NZ misses profit budget again in November

Tab NZ again fell short of its monthly profit budget in November despite surpassing its gross betting revenue (GBR) target for the month.

Tab NZ, New Zealand’s sports betting monopoly, said while major events such as football’s 2022 Fifa World Cup, horse racing’s Melbourne Cup and the NZ Trotting Cup helped it to surpass turnover and GBR levels, gross betting margin and profit missed budget.

Retail traffic continued to hold strong following the easing of Covid-19 restrictions and the overall field size across all three codes was up on the year-to-date average, other factors such as continued competitive pressure from unregulated offshore operators, reduced betting margin and lower average bet size in key customer segments impacted the figures.

Tab NZ had already warned in early December that due to it missing budgets a number of times in recent months, it would have to reduce distributions to racing codes across New Zealand by 9% for the 2022-23 financial year ending 31 July 2023.
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PMU aims to increase stakes by €1bn by 2025

PMU aims to increase stakes by €1bn by 2025

French horse racing operator Pari-Mutuel Urbain (PMU) announced a three-year strategic vision to grow its annual stakes by €1bn and to increase its total number of customers to four million.

The business outlined a series of transformations for the company in the period including a “global approach” to PMU’s growth, the deployment of new technology and the development of marketing channels.

“By 2025, PMU will write a new page in its business plan,” said PMU managing director Emmanuelle Malecaze-Doublet. “Our objective of generating €1bn in additional stakes in 2025 and of having more than four million customers is ambitious and based on a collective spirit of conquest. During this period, PMU will develop its employer brand and its engagement policy to attract and retain talent.”

pmu aims to exceed four million total customers by 2025

Malecaze-Doublet elaborated on the specific loci within the business that would be a focus for transformation.

“The transformation of the company w..

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Norway extends Norsk Rikstoto monopoly for 10 more years

Norway extends Norsk Rikstoto monopoly for 10 more years

The government of Norway has extended Norsk Rikstoto’s exclusive licence to offer bets on horse racing for another 10 years.

Norway remains one of the last European countries with a state gambling monopoly. Lottery Norsk Tipping is the only body permitted to offer online casino gaming, while Norsk Rikstoto has the exclusive rights to take bets on horse racing.

Norway remains one of the last European countries with a state gambling monopoly

The government said that the monopoly system is necessary because the types of games offered by Norsk Tipping and Norsk Rikstoto “have high prizes, high turnover or a high risk of creating gambling problems”.

Norsk Rikstoto’s monopoly will now last at least 10 more years, as the government announced that its licence would be extended until at least the end of 2032.

Minister for culture and equality, Anette Trettebergstuen, said that she felt that Norsk Tipping understood its role as a monopoly operator and that its goals were aligned with the go..

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CDI to develop DraftKings horse racing offering

CDI to develop DraftKings horse racing offering

Race track and gaming business Churchill Downs Incorporated (CDI) has entered into a multi-year agreement with DraftKings to develop DK Horse, a pari-mutuel wagering horse racing product for the sports betting operator.

CDI’s B2B horse racing subsidiary TwinSpires will develop the white-label solution. This will involve providing the company’s advanced deposit wagering technology to DraftKings.

While TwinSpires initially started life as CDI’s B2C online betting and casino platform, the business pivoted to being a B2B provider after facing intense market competition in 2021.

Under the terms of the deal, CDI will also provide the pari-mutuel wagering rights to content that the business owns or controls, such as the Kentucky Oaks and Kentucky Derby. CDI will also provide additional horse racing content on the operator’s behalf.

“We are excited to collaborate with Churchill Downs Incorporated, not only to give our existing customers an opportunity to engage with pari-mutuel horse wa..

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Metric partners Racebook HQ for trading services

Metric partners Racebook HQ for trading services

Sports betting supplier Metric Gaming has partnered with Racebook HQ to offer managed trading services to horse racing operators.

Through the partnership, Racebook HQ will use automated decision makers to offer pricing “on products that are notoriously difficult to trade” across horse racing, greyhound racing and trotting.

“We are extremely excited to announce this partnership and could not have found a better partner in Metric Gaming,” Racebook HQ chief executive Sam Ford said. “Technology is at the core of what we do at Racebook HQ, and Metric Gaming clearly hold the same aspirations to create premium products and services for the global betting and gaming industry.”

Metric Gaming and Racebook HQ: similar outlook

Metric Gaming CEO Keith Hayes said that Metric and Racebook – which is backed by professional racing bettor Zeljko Ranogajec – shared a similar outlook on the global betting landscape.

“RBHQ is the dominant racing provider globally and from our very first conversations,..

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ATG chief slams bonuses as “embarrassing”

ATG chief slams bonuses as “embarrassing”

Hasse Lord Skarplöth, CEO of Swedish state-affiliated horse racing operator ATG, has said that bonuses are “embarrassing” and “drive gambling addiction” in a blistering critique of the common industry practice.

Bonuses are the practice of offering free or extra bets to consumers in order to attract or retain players to their platforms; with the method sometimes coming under criticism as an inducement that helps contribute to negative social responsibility outcomes.

Sweden has a stringent bonus regime, only allowing operators to offer one bonus per player at sign-up, worth no more than SEK100. This has been criticised by the Swedish Moderate Party – which have called for the rules to be reformed:

Hasse Lord Skarplöth

“This would make it easier for gaming companies to retain customers in the licensed market and have long-term relationships with the players, both of which increase consumer protection,” said the party.

Much of the industry has also opposed the bonus ban. However, as ..

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FDJ opens talks over ZEturf Group acquisition

FDJ opens talks over ZEturf Group acquisition

French national lottery operator Française des Jeux (FDJ) has entered into exclusive negotiations over the acquisition of online horse racing and sports betting brand ZEturf Group.

Details of the talks or financial terms of the potential deal were not disclosed, but FDJ did state that the purchase would form part of wider plans to expand its presence in France’s online gambling market.

Founded in 2001, ZEturf employs approximately 100 staff and processed almost €800.0m (£701.6m/$802.5m) in wagers, including more than €100.0m in pool bets, in 2021.

According to FDJ, online horse racing betting accounts for more than 50% of ZEturf bets. This makes the business France’s second largest operator in this segment with a market share of around 20%.

In addition to its activities in France, ZEturf operates in the Netherlands, Belgium and Spain.

Should the acquisition proceed to the next stage, the deal would be subject to approval by competition and regulatory authorities

The talks come a..

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BetMakers CEO optimistic as revenue rockets after Sportech acquisition

BetMakers CEO optimistic as revenue rockets after Sportech acquisition

BetMakers chief executive Todd Buckingham said the business is now “unquestionably robust and independent of any single contract or strategy”, following rapid revenue growth in 2021-22, aided by the acquisition of Sportech’s global tote arm.

The business brought in AU$91.7m in revenue during the year ended 30 June, though its losses also increased following the deal.

Global betting services – which previously made up the vast majority of BetMakers’ revenue – brought in AU$19.5m, up by 179.3%.

However, with acquisition-driven growth in other segments, it was no longer the leading revenue generator for the business.
Instead, the global tote arm – acquired from Sportech last year – was the new leader. Tote revenue was AU$46.9m, up from just AU$1.7m a year earlier as the acquisition closed in the final weeks of 2020-21.

The BetMakers global racing network brought in AU$4.1m, up by 28%.

Costs of goods sold also increased, but more slowly, from AU$9.3m to AU$25.4m, resulting in a gross..

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UK Tote Group names Spencer and Holt non-executive directors

UK Tote Group names Spencer and Holt non-executive directors

Pool betting operator UK Tote Group has appointed Lord Spencer of Alresford and Mark Holt as non-executive directors to its board.

UK Tote said the double addition would support its ongoing growth plans, with the focus on product innovation, better value, improved customer experience and strong partnerships to create more liquidity and bigger pools.

Lord Spencer is an entrepreneur and founder of interdealer broker ICAP, which became a FTSE100 business in 2006, and its successor, electronic markets services provider NEX plc. He is also one of more than 150 investors in UK Tote.

In addition to acting as a board director of a small number of private businesses, Spencer became chairman of the Centre for Policy Studies in 2020.

Holt brings experience and knowledge from his time working in senior technology roles with a number of businesses. These included spells as chief technology officer at CPA Global and chief technology officer for Trainline.

He is currently chief product and engi..

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