Australian betting operator Tabcorp has announced that it has ended its broadcast stand-off with race track operator Racing Victoria, following months of deadlock negotiations regarding distribution rights.
Both Racing Victoria and Tabcorp governance have agreed terms for Victoria race fixtures to be broadcast on Sky Racing 1 network. The broadcast will bring a much needed boost to Racing Victoria and Tabcorp racing divisions, which had noted wagering declines during the blackout period of 20 percent.
Australian business news sources have reported that the new media terms agreed on are set to be worth AUS$10 million for a five year partnership, a figure way below Racing Victoria’s target. Racing Victoria fixtures will be broadcast to more than 50 countries.
Prior to the end of its deadlock, Racing Victoria management had been eyeing the potential launch of its own subscription based TV racing channel utilising the Seven Platform.
The end of the black-out between the two parties comes in time for the start of the Spring Racing Carnival season (start date – 12 September), which are a set of key fixtures for Australian racing.