Deal based on sound commercial principles for both parties
The agreement takes effect immediately and will ensure Ladbrokes Coral’s 3,820 betting shops in the UK and Ireland can show racing from 15 Arena Racing Company (“ARC”) owned racecourses and seven independent racecourses.
In addition to UK racing from TRP’s 22 racecourses the channel includes coverage of South African racing.
Ladbrokes, Coral and Betdaq will shortly re-commence streaming of TRP content.
Ladbrokes revealed in a statement Friday that the deal is a first of its kind, being based purely on a profit-shared model which sees TRP and Ladbrokes Coral incentivised to work together to grow betting on British racing.
With the recent reform of the horserace betting levy, the landscape is now set for British racing and bookmakers, both retail and remote, to work together to grow the appeal of the sport as a betting product, for new and existing fans.
Ladbrokes Coral Chief Executive, Jim Mullen, said: “We are pleased to have struck a deal with The Racing Partnership which gives us a joint incentive to grow the sport. Horseracing is part of our heritage and, despite the vast choice of sports to bet on in the modern era, it remains a core product for our business, so it is a positive development that once again all our customers, in shops and online, can enjoy a full range of horseracing action.”
ARC chief executive, Martin Cruddace, responded: “We are delighted to have agreed this deal with Ladbrokes Coral. It is testament to the symbiotic nature of racing and betting that we have been able to agree a deal based on sound commercial principles for both parties.”