ACCC probes News' plans to buy betting rival

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How do you feel about dominant news publisher News Corp Australia making more of its profits from betting? Well get over it, they already do.

However, an acquisition of Racenet provider Racing Internet Services by News subsidiary Punters Paradise has attracted the attention of regulator the Australian Competition and Consumer Commission, which has launched an informal inquiry.

Both Punters and Racenet are digital platforms which provide racing news, form guides and tipping to consumers via their websites and mobile apps. Both also

provide betting affiliate services to corporate bookmakers, including referring new customers.

The ACCC's informal review commenced on October 5, focusing on the impact on competition, and will also look at the effect of the loss of an independent alternative source of racing news and information to consumers. Interested parties have until October 19 to submit their feedback, with a decision expected bu November 29.

Racenet was launched more than 20 years ago by Craig Tompson and Glenn Robbins.

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INDUSTRY | BRIEFS
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