News Corp Australia enters online sports betting arena with NTD
News Corp’s NTD has backing from the CEOs of Tekkorp Capital and BetEasy CEO Matthew Tripp.
Australia.- The Australian media giant News Corp Australia is to launch an online betting brand backed by Tekkcorp CEO Matt Davey and BetEasy CEO Matt Tripp. NTD Pty is formed by a consortium of Tekkorp Capital, including NYX Gaming Group founder Matt Davey, News Corp Australia and TGW. Its investors include Tripp, founder of Sportsbet.
Tekkorp said it will invest “substantially” in the project, with founder Davey and president Robin Chhabra both joining the new company’s board.
NTD Pty will use technology from BetMakers Technology Group through a 10-year agreement. Key financial terms include a platform setup fee of $2m for BetMakers and an introductory development fee of $500,000 per month between sign-up and launch. A revenue share agreement could see BetMakers earn in excess of AU$300m (US$223m), and at least $80m.
The company will apply for a sportsbook licence to operate an online sports betting product in Australia and New Zealand. The first product is planned for the second half of 2022, with more likely to be added in the future.
Last May, BetMakers made an AU$4bn (US$3.09bn) offer to acquire Tabcorp’s wagering and media business. However, Tabcorp finally decided to demerge its lotteries and Keno businesses to create two separate companies.
