Australian betting group Tabcorp Holdings has confirmed it is in discussions in relation to its proposed early exit from Sun Bets, the UK online wagering and gaming business it operates in partnership with News UK.
The company announced in October 2017, that Sun Bets’ trading was ‘challenged and that a strategic review of the business had commenced.’
The group has now said: “Sun Bets has remained under strategic review and this has been reinforced in subsequent market announcements.This review has concluded and Tabcorp is now in discussions with News UK about a proposal to exit its agreement to operate Sun Bets.
These discussions remain ongoing and an agreement has not been reached at this stage.
Tabcorp has commenced collective consultation with Sun Bets employees regarding the proposal, which is in line with UK employment law obligations. Tabcorp will continue to inform the market of developments in line with its continuous disclosure obligations.”