Industry sources who spoke on the condition of anonymity because talks are confidential said Mr Murdoch,who has made a large amount of money from investments into the US wagering market,has been weighing up potential partnerships with local gaming companies.
The sources also said Mr Murdoch was working behind the scenes with a US investment fund on a potential deal for Tabcorp’s bookmaking and media division. Two sources said that the potential deal involves heavyweight bookmaker Matthew Tripp. Others close to Mr Tripp have since said he is not working with Fox on any bid. Mr Tripp declined to comment.
No approaches have been made to Tabcorp,market sources said,and there is no guarantee any deal will eventuate.
Fox has been debating a play in the local wagering market for years. The company,which was formed following the sale of 21st Century Fox to Disney,established the FoxBET joint venture with US gaming giant The Stars Group in 2019. It started speaking to local wagering companies about potential ways to bring its business onto local shores,according to people familiar with the discussions.
Fox Media LLC (part of Fox) received approval in late October for FoxBet trademark,records with the Australian register show. A spokesperson for Mr Murdoch declined to comment. Tabcorp also declined to comment.
Tabcorp is currently weighing up at least two offers for its wagering and media business from global powerhouse and Ladbrokes owner Entain and US private equity firm Apollo.
The $10 billion company has not said if it will move towards a formal sale process. Major investors havepressured Tabcorp to demerge its underperforming wagering business,which has lost ground to online rivals such as Sportsbet,to unlock value in its booming lotteries arm.