The pandemic lent Australians the time and money to wager bets on their favourite horses. Suddenly, gambling one’s fortune away was not such a bad idea. However, the industry has witnessed a slowdown since recovery from Covid with people having to save up for rising costs. However, wagering tech company RAS Technology (ASX: RTH) is not giving in just yet.
The Company has signed a six-year contract with one of the major players in the horse racing space, Tabcorp (ASX: TAH), boasting a market share of nearly 40%. RAS provides fully-integrated premium data and enhanced content to the global racing and wagering industries. It has signed a three-year contract with Tabcorp Holdings to supply an expanded offering of market-leading data and content across the TAB App, Retail and Web Platforms as well as Sky Racing.
In return, the Company will receive $5.4 million plus indexation over the initial three years, with an additional $5.4 million plus indexation once the optional three-year extension is activated. That takes the value of the total potential contract to $10 million over six years.
RAS CEO, Stephen Crispe, commented, “The quality of content, analytics, and tips provided to customers has a proven link to drive turnover. Every Saturday in Australia there is a race every few minutes, meaning end-users require high-quality informative insights at their fingertips in order to wager with confidence.”
As per the agreement, RAS will provide Tabcorp with its state-of-the-art analytics, predictive models, and premium content, positioning Tabcorp to compete alongside the leading Tier 1 operators in the Australian landscape. This deal is set to elevate the data and content showcased on Tabcorp’s website and new mobile app, aligning the company with industry frontrunners and heralding a new era of competitiveness in the Australian market.
While Tabcorp is among Australia’s biggest gambling companies, RAS will complement its suite of products by allowing Tabcorp’s users to access some predictive data.
This contract represents an extension of the existing long-standing partnership between RAS and Tabcorp, working together to push the boundaries on innovation and customer experience. By combining Racing and Sports’ world-leading racing data with Tabcorp’s existing video content, Tabcorp customers will have access to leading analytics and insights.
Besides providing exclusive ratings, RAS also holds the distinction of being the authorised provider of Timeform ratings in Australia. Through a longstanding collaboration spanning 23 years, the Company has established a strong partnership with the esteemed Timeform brand, which is a sports content and data provider.
Crispe added, “This deal will provide a one-stop-shop for users of the Tabcorp services looking for everything on a single platform to find an edge; whether it be in the Racing and Sports analytics or Tabcorp’s video replays, it’s all there.”
To further cushion its financials, RAS has its eyes set on expanding to the UK, USA, Middle East and Asia, with the goal of becoming the official racing data distributor. Plus, with the Government-mandated tax relaxations on wagering, the Company’s prospects look secure.
Alinda is a Business Reporter for The Sentiment
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