No opposition to Punters’ acquisition of Racenet

The ACCC has decided not to oppose the proposed acquisition of Racing Internet Services Pty Ltd (Racenet) by Punters Paradise Pty Limited (Punters), a subsidiary of News Corp Australia Investments Pty Ltd.

Punters and Racenet are digital platforms that provide racing news and information to consumers through their websites, mobile apps and social media channels.

The parties also earn revenue for referring new customers to corporate bookmakers, by acting as betting affiliates.

“The ACCC found that there are numerous alternative sources of online racing news and information for consumers other than Punters and Racenet,” ACCC Commissioner Roger Featherston said.

The ACCC also found betting-affiliate services are just one of a number of channels used by corporate bookmakers to acquire new customers.

As a result, the ACCC concluded that it was unlikely that the proposed acquisition would result in a substantial lessening of competition in any market.

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