Rupert Murdoch and FOXBet are seriously interested in entering the Australian sports betting scene, according to sources that have asked to stay anonymous due to the confidentiality of talks that are going on behind the scenes.
The Murdochs were rumored to have been considering acquiring Tabcorp’s wagering and media arm. These latest reports only confirm that serious negotiations are happening far from the public eye right now.
Registering a Trademark for FOXBet in Australia
The Fox Corporation fronted by Lachlan Murdoch, Rupert’s son has registered a trademark for FOXBet in Australia. According to well-informed sources, this is a sign that the Murdochs have now officially decided to enter the Australian betting scene.
The sources who spoke to The Sydney Morning Herald insisted on remaining anonymous and said that Mr. Murdoch, who has seen the perks of investing in the US sports betting market, is now trying to go on a similar assault on the Australian betting industry.
The media-mogul is said to be considering entering into a partnership with a local betting company and that will most likely be Tabcorp’s sports wagering and media department.
The similarities between Tabcorp’s sports wagering and media division and FOXBet mean that any potential partnership will produce a myriad of synergies, resulting in instant value for the Murdochs. Needless to say, that’s something that no seasoned business mogul will say no to.
High-Profile Aussie Bookmaker Might Be Involved Too
Some of the sources who talked to The Sydney Morning Herald said that Rupert Murdoch was working together with a US investment fund behind the scenes to acquire Tabcorp’s prized asset.
Other sources said that in addition to the US investment fund, Mr. Murdoch was also communicating with Matthew Tripp.
Matthew Tripp is one of the most influential figures in the Australian bookmaking scene. He launched and popularized Sportsbet and also had a key role in BetEasy’s transformation.
However, two other sources, who claimed to be close to Mr. Tripp, said that the high-profile bookmaker was not involved in any deal with FOXBet. When asked, Mr. Tripp declined to comment.
It is evident that right now, all the talks the Murdochs are having are behind the scenes. Market sources have confirmed this and have said that there were still no official approaches for Tabcorp’s attractive wagering and media asset. However, if these reports are anything to go by, that will soon change.