Flutter Entertainment and Racecourse Media Group have entered a long-term partnership until 2028 that will see the former benefit from the latter’s streaming services.
The deal will allow Flutter Entertainment to use RMG’s horse racing streams on their various betting platforms. Paddy Power, Betfair and SkyBet’s online and retail verticals will all benefit from RMG’s services to provide additional content for their customers.
It will also see Flutter attempt to drive up public engagement in horse racing and increase their revenues from the sport as a result. RMG sees Flutter’s marketing opportunities as a perfect opportunity to do this and 100% of its operating profit will be paid straight back into racing due to racecourse stakeholders holding 100% control of the company.
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“We’re delighted to confirm that we have reached a new long-term agreement with RMG, a key partner in providing the best possible horse racing product to our customers,” said Conor Grant, Flutter UK and Ireland CEO.
“We have an important and long standing relationship with the racing industry, investing a total of £100m through media rights, sponsorship, hospitality, marketing and the levy in the last year.
“We are continually looking for ways to collaborate directly with partners like RMG and the rest of the racing industry to enable British horseracing to achieve its great potential and secure the long-term sustainability of the sport.”
By entering this partnership, Flutter will now be able to stream a significant number of domestic international fixtures to their customers through both online and retail platforms.
RMG recently renewed their deal with 35 racecourses across the UK and Ireland that will allow them to stream their races for Licensed Betting Offices, giving Flutter the opportunity to broadcast major events such as the Cheltenham Festival and Grand National through their various brands.
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It is yet another aggressive move from Flutter, who also recently acquired UK bingo giant Tombola for £402m.
Martin Stevenson, CEO of RMG, said: “This agreement will have far reaching benefits for RMG’s racecourses and the industry itself. We are delighted to collaborate with Britain and Ireland’s largest betting company, Flutter Entertainment, which gives both companies the opportunity to work together to promote RMG’s racecourses and the sport.
“We will be able to call on the considerable marketing reach of both companies in terms of working together via sponsorships and advertising, to expand the appeal of our horseracing both domestically and overseas.”