Herbert Smith Freehills advised Tabcorp on its white label partnership with News UK to launch an online wagering and gaming business in the UK and Irish markets, to be known as "Sun Bets", in 2016.
The new business will bring together Tabcorp’s capability in global wagering with News UK’s vast customer base and market-leading media assets, including The Sun newspaper (print and digital properties) and associated sports and racing products (such as Dream Team FC, Favourite and Goals). The agreement is structured as a revenue share arrangement with News UK undertaking internal and external media promotion of the business and Tabcorp providing the gambling activities.
We played a key role in enabling Tabcorp's entrance into the UK and Irish markets with such well-established brands (both in The Sun and the Dream Team fantasy football competition). For Tabcorp, this deal reflects a fundamental part of their strategy of pursuing close-to-core international opportunities.
Nick Elverston, Global Head of TMT at Herbert Smith Freehills, commented "Assisting clients with digital transformation is an increasingly important theme of what we do. This deal is a prime example of that with a strong transcontinental TMT flavour to boot".
Global Head of TMT partner Nick Elverston and TMT senior associate Hayley Brady led the team, supported by associates Fiona McKenzie and James Balfour.
Tabcorp is a leading Australian gambling entertainment company and a top 100 public company listed on the Australian Securities Exchange. We have a valued, long standing relationship with Tabcorp in Australia, having advised them on numerous significant matters (including previously and ongoing). This instruction was won by Client Relationship Partner Sarah Kenny in the Herbert Smith Freehills Sydney office and represents the first Tabcorp matter for the Herbert Smith Freehills London office. This is a significant achievement for the London TMT team, recently named "TMT Team of the Year" at the British Legal Awards.
The in-house legal teams at Tabcorp included General Counsel Julian Hoskins and Deputy General Counsel Daniel Lovecek and team members Carl Hornigold, Cameron Beck and Zoe Mintchev, and, on the News side, General Counsel Emma Moloney and lawyer Oliver Arnott. Partner Jason Chess at Wiggin advised News on this transaction.