Poll: Can Sun Bets turn it around?

Sun Bets has had a pretty torrid time in its first full year of operations, losing £28m and its MD Jamie Hart, while also gaining media attention for all the wrong reasons thanks to its Pie-gate stunt.

Tabcorp also said last week it has payment obligations to News UK in FY18 of £11.1m and in FY19 of £16.5m and could terminate the joint venture in 2019 if Sun Bets does not achieve revenues equivalent to the minimum fees payable.

But the Australian wagering giant also said it wouldn’t can the project without a fight.

Group chairman, Paula Dwyer, said the operating model had been reviewed and the brand was undergoing “a range of initiatives to maximise the prospects of success in FY18 and beyond” including “using the powerful Sun brand and developing a wagering and gaming platform that Tabcorp can replicate in new growth markets in the future.”

Tabcorp CEO David Attenborough also said the business would be focusing on customer acquisition and product development.

For optimists there are indeed some reasons to believe Tabcorp can turn the Sun Bets ship around.

Brands like Sun Bingo initially flourished with the support of News UK, and The Sun is aiming to take a leaf out of Sky Bet’s book by cross-selling the millions of sports fans actively engaged with its Dream Team product.

With that in mind, this week we want to know if Sun Bets is doomed to be another failed media company betting project or whether it can turn its performance around?

Have your say below:

Can Sun Bets turn the ship around? Context: https://t.co/QUMbLlKaLw

— EGR Global (@EGRIntel) August 7, 2017