British online and land-based sports betting and gaming operator Ladbrokes Coral Group has reportedly ended a broadcast rights dispute with The Racing Partnership that will see it resume offering live bet-to-view services from 22 horseracing venues.
According to a report from The Telegraph newspaper, London-based Ladbrokes Coral Group was told in late-January to cease providing live broadcasts from the 15 United Kingdom tracks owned by Arena Racing Corporation Limited along with seven independent properties after it failed to agree new rights deal with The Racing Partnership.
A joint venture of Arena Racing Corporation and the seven tracks, which encompass Fakenham Racecourse, Newton Abbot Racecourse and Conference Centre, Hexham Racecourse, Ffos Las Racing and Events, Plumpton Racecourse, Ripon Races and Towcester Racecourse, The Racing Partnership reportedly began handling the real-time broadcast of races from the independent venues at the start of the year and had wanted Ladbrokes Coral Group to agree a revised distribution deal.
The newspaper reported that the stalemate had resulted in Ladbrokes Coral Group showing 23% fewer horseracing events in its Ladbrokes-branded shops and meant that the bookmaker was in danger of losing market share to rivals such as William Hill and Paddy Power Betfair.
“We are pleased to have struck a deal with The Racing Partnership [that] gives us a joint incentive to grow the sport,” read a statement from Jim Mullen, Chief Executive Officer for Ladbrokes Coral Group. “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.”
Ladbrokes Coral Group reportedly explained that the “first-of-its-kind” profit-share deal will see its 3,820 sportsbetting shops in the United Kingdom and Ireland resume broadcasting coverage from the 22 British tracks. Along with action from South Africa while it declared that its online channels are to “shortly” resume the streaming of live content from The Racing Partnership venues.
“We are delighted to have agreed this deal with Ladbrokes Coral [Group],” read a statement from Martin Cruddace, Chief Executive Officer for Arena Racing Corporation Limited. “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. I am very grateful for the patience and support of my shareholders. We look forward to working with everyone at Ladbrokes Coral [Group] as we move into a new era of collaboration and cooperation.”