Merger with Tabcorp will not slow down this Tatts subsidiary
UBET, a retail and online gambling subsidiary in the Tatts Group has a A$50 million brand expansion plan that will not be slowed down by the parent company's proposed merger with Tabcorp, another Aussie gambling giant threatened by aggressive competition from foreign owned online companies making their presence felt in the country.
UBET is an Australian listed company that owns Totalisator Agency Board (TAB) agencies in Queensland, South Australia, Tasmania and the Northern Territory and provides sports wagering through a network of retail agencies, telephone call centre, on-course betting facilities and online at ubet.com.
Speaking to local reporters over the weekend, UBET's new chief operating officer Brendan Parnell revealed the big money push over the next 12 months despite earlier reports that the investment being made by Tatts Group into promoting the UBET brand would cease, as the brand makes way for Tabcorp's TAB if the merger was approved.
Parnell, a former executive with Sky Channel and Tabcorp who joined UBET just two months ago, corrected the report, revealing that there were no plans at UBET to slow down, and that he has a mandate to accelerate investment in the business by positioning the brand strongly so that when the merger is approved by the authorities UBET will be "in the strongest position it can be".
Parnell is keen to work closely with both regulators and the Queensland racing industry, saying:
"I want to work very closely with the regulatory body and share data to ensure informed decisions are made around the product, race scheduling and future strategic investment. I am committed to enhancing that relationship and my approach is how can we grow the money that goes back to racing."
That liaison imperative also applies to Sky Racing, Parnell said, observing that he will be in regular contact.
"Sky plays a critical role in optimising wagering. They are our biggest business partners after racing," he said.
There is still a capital budget of nearly $50 million to invest in the UBET brand over the next 12 months, Parnell said, explaining that 250 retail shops have already been upgraded, and that these units had significantly outperformed those venues which had not yet been refurbished.
Online Casino News Courtesy of Infopowa