Media giant News Corp Australia has placed a bet on racing affiliate website Punters.com.au in order to tap into the country’s AU$6 billion (US$4.53 billion) racing industry.
Herald Sun reported that News Corp has acquired the digital-media focused racing publisher for an undisclosed sum. According to News Corp. Australasia executive chairman Michael Miller, the purchase of Punters.com.au will enable them to reach out to a new generation of racegoers and punters.
“Punters.com.au is already the country’s leading digital form guide with a rich content offering and hosting an active social community. This partnership with Punters.com.au will allow us to take its tools, tips and news to a wider audience,” Miller said, according to the news website.
Dubbed as “the digital Racing Post of Australia, Punters.com.au has monthly average of more than 375,000 visitors and is expected to generate revenues of £3.4m in 2016 with a profit margin of almost 55%. The site also boasts several feathers in its cap, including the Affiliate of the Year at the EGR Australia Awards.
“We have a long and rich history with Australia’s racing, sports and wagering industries,” Miller said. “The acquisition of punters.com.au deepens News Corp’s commitment to Australia’s $6 billion horse racing industry and provides our 16 million monthly audience with an even more complete and integrated fan experience.”
Despite the acquisition, Punters.com.au CEO and founder Luc Pettett will remain as Punters CEO while COO Heath Kilgour will also remain in his position.
“When we started Punters.com.au eight years ago, we set out to challenge how horseracing was being represented, while respecting its history and traditions,” Pettett said. “With our dynamic young team, we’ve pushed the boundaries and created a product that is unlike any other in the Australian horseracing landscape. This won’t change and I’m so excited to start a new chapter with News Corp.”