The Racing Post could be acquired by media conglomerate News International according to a report this morning from SBC and Gaming&Co.
Launched in 1986, the Racing Post has become the most read UK media outlet for horse racing news, and is widely recognised across the country’s network of racetracks and betting shops.
The Post has had a number of owners over the years, including Trinity Mirror, now operating as Reach. This firm is the publisher of the Daily Mirror, one of the tabloid competitors to News International’s The Sun, whilst the latter also publishes The Times broadsheet paper.
Spotlight Sports Group has owned the Racing Post since 2016, and the betting media group is also in turn owned by Exponent, a private equity firm. According to SBC/Gaming&Co, Exponent values the outlet at £300m.
Gaming&Co understands that News International believes this valuation is too high and instead believes a valuation under £200m is more appropriate. Regardless, acquiring the post seems to be high on the media giant’s agenda.
This would not mark the first time News International made a move into UK online betting. The group launched SunBets in 2016 in partnership with Australian bookmaker Tabcorp, but this was closed two years later and the latter had to pay the media firm nearly £40m in compensation.
News International still runs Sun-branded bingo and slots sites, but its betting publishing revolves more around an affiliate model. Much of its UK revenue comes from affiliate traffic from its Dream Team fantasy football and Sun Racing sites.
