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British startup's huge loss casts doubt over Tabcorp's growth strategy

Sun Bets has suffered a S$23 million loss before interest, tax, depreciation and amortisation for half ended Dec 31

Published Thu, Feb 2, 2017 · 09:50 PM

Sydney

AUSTRALIA'S largest betting company, Tabcorp Holdings Ltd, on Thursday revealed steeper-than-expected losses at its British online betting startup, casting doubt over a key plank of its growth strategy.

Alongside Tabcorp's A$6.2 billion (S$6.7 billion) bid for lotteries group Tatts Group, the Sun Bets start-up is key to Tabcorp's efforts to cut its exposure to Australian betting as international rivals erode its market share.

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