Ladbrokes Coral will start showing racing from 15 Arena Racing Company racecourses and 7 independent racecourses after signing a media rights agreement with The Racing Partnership (TRP). The agreement has ended a dispute with the racecourse owner over the cost of the broadcasting rights.
Ladbrokes retail estate refused to pay the The Racing Partnership’s charge for showing races, resulting in no pictures from the 22 racecourses. According to broker Barclays, Ladbrokes Coral was showing 23 percent fewer races than their rivals, creating risk to its market share.
Under the terms of the new agreement, the 3,820 betting shops across the Ladbrokes Coral retail network in the UK and Ireland, will be able to show races from these 22 racecourses, as well as South African Racing, which was also covered by the deal.
“We are pleased to have struck a deal with The Racing Partnership which gives us a joint incentive to grow the sport,” said Jim Mullen, chief executive of Ladbrokes Coral.
“Horse racing 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.”
Martin Cruddace, ARC chief executive added: “We are delighted to have agreed this deal with Ladbrokes Coral. It is a testament to the symbiotic nature of racing and betting that we have been able to agree on a deal based on sound commercial principles for both parties.”
“I am very grateful for the patience and support of my shareholders. We look forward to working with everyone at Ladbrokes Coral as we move into a new era of collaboration and cooperation.”