Global wagering giant Ladbrokes has extended its principal partnership agreement with Tasracing and the Tasmanian racing industry for a further five years.
Ladbrokes, which is part of Entain Australia and New Zealand, will continue to be the Tasmanian racing industry’s venue and major race day partner for the next five years, with an option to extend for a further two years.
The new agreement, effective from 1 August 2024, includes a base sponsorship fee, a commitment to promote Tasmanian racing on Ladbrokes’ numerous social channels, general marketing and promotion support, and a capital expenditure contribution to help improve on-course facilities at Spreyton and Elwick.
Tasracing CEO Andrew Jenkins said the partnership extension was a “big win” for Tasmanian racing.
“The continued investment into Tasmanian racing by Entain through its premier Ladbrokes brand is evidence of the industry’s prospects in our state,” Jenkins said.
“It means Ladbrokes’ relationship with the Tasmanian racing industry will extend over 10-years.
“We are pleased and excited to extend the relationship for a further minimum period of five years.
“While Tasracing will be able to broaden our promotion of Tasmanian racing directly to our audiences, Ladbrokes will also promote our product to its significant database in the highly competitive national wagering space.”
Entain Group executive director Stakeholder Engagement Karl deKroo said Ladbrokes was thrilled to continue its association with racing in Tasmania.
“Ladbrokes is proudly a racing-led business, and we believe strongly in helping to build and sustain the industry through our unique approach to marketing and content,” deKroo said.
“The Tasmanian racing industry has had its challenges, but we are proud to stand shoulder-to-shoulder as its major partner and together we look forward to a period of stability and growth.
“Racing has a very proud history and heritage in Tasmania. It has consistently punched above it weight and we look forward to working with Tasracing, the respective Clubs and other stakeholders to continue to grow racing, build the fan base, and improve outcomes for participants across all three codes.”
Mr Jenkins said it was unique to be able to mark a decade-long partnership with the Tasmanian racing industry.
“Ladbrokes has long-term partnerships with racing clubs and organisations interstate, so it is gratifying that it also sees benefit in partnering with clubs and the industry here,” he said.
“Its role as a key partner and key contributor to Tasmanian racing – both looking back and forward – cannot be underestimated.
“We very much look forward to continuing to work with Ladbrokes on the growth opportunities the partnership provides.”
The new partnership will see the continuation of key concepts such as the Ladbrokes Community Sports Series which aligns with the Devonport, Launceston and Hobart thoroughbred Cups and schemes to promote growth in ownership and racecourse attendance across the three codes.