Entain Australia’s CEO said new initiatives will be rolled out for members.
Australia.- Entain Australia has decided to disband its Ladbrokes Racing Club (LRC) programme due to the rising operating costs in the wagering sector. The LRC was launched in 2023 to allow members to experience thoroughbred, greyhound and harness ownership.
LRC will sell its racing stock. Some horses will be auctioned via Inglis Digital, while others will be transferred to New Zealand.
Dean Shannon, Entain Australia CEO said, “We are proud of Ladbrokes Racing Club and the opportunity it has presented to thousands of customers to experience a race day as an owner. The increasing product fees and taxes in Australia, along with the rising cost of racing, has forced tough decisions to be made regarding these extra initiatives.
“While the club will no longer have a presence on the racetrack, our commitment to being a proud racing-first brand remains, with several new initiatives to be rolled out in 2025 for members. The Ladbrokes Racing Club was established to bring passionate, like-minded fans closer to the action by creating a community for them to interact – something we are excited to continue this year.”
Shannon said that New Zealand operations would remain unchanged. He said: “The TAB Racing Club in New Zealand will remain unaffected and continue to be active on the track.”
In December, the Australian Transaction Reports and Analysis Centre (AUSTRAC) commenced civil penalty proceedings against Entain Group. It accuses the company of alleged serious and systemic non-compliance with Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws.
It said Entain’s board and senior management failed to appropriately monitor its AML/CTF programme and lacked proper controls to verify the identities of customers making cash deposits via third parties. It says Entain failed to check on 17 high-risk customers properly.
See also: New Zealand Thoroughbred Racing names Matt Ballesty as CEO
Entain Australia’s CEO said new initiatives will be rolled out for members. Australia.- Entain Australia has decided to disband its Ladbrokes Racing Club (LRC) programme due to the rising operating costs…
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