News Corp, the American mass media company owned by the Murdoch family, is reportedly interested in entering the Australian sports betting market.
The Murdochs are hoping that entering the Australian wagering industry will have the same positive effects as their company’s foray into the US bookmaker industry.
News Corp successfully invested in FOX Bet, one of the newest US sportsbooks, and the company has seen nothing but excellent results in the short time it was involved in the US bookmaker industry.
Partnering Up or Starting a New Australian Bookie
News Corp already has a firm presence in Australia as it owns and runs some of the largest news outlets in the country. That foothold will help the company expand its influence into the Aussie sports betting market much more easily, and according to AFR, that’s exactly what News Corp is trying to do.
AFR reports that the mass media company has been on the lookout for a profitable Australian betting partnership and was looking into several betting companies that could help it achieve that.
If that doesn’t happen, the report doesn’t rule out News Corp launching its own sports betting business in Australia.
Australian Betting Mergers on the Rise
The Australian betting market has been one of the most active in the world with regards to super-sized mergers and acquisitions and a potential News Corp partnership will spawn another one.
Ladbrokes and Neds owner, Entain, recently rejected a bid from Las Vegas casino giant MGM of a takeover. At the same time, the London-listed company has publicly announced that it is interested in acquiring Tabcorp’s wagering and media arm, its most profitable department.
Matthew Tripp and a consortium that he is rumoured to head are also said to be interested in purchasing Tabcorp’s sports betting and media segment.
The sports betting tycoon has vast experience in these kinds of deals as he has already presided over the sales of Sportsbet and BetEasy, two Australian bookmakers that he ran and grew.