Entain winds down Ladbrokes Racing Club amid industry challenges
Entain Australia, owner of two of the top Australian bookmakers, Neds and Ladbrokes, has made the tough call to discontinue its innovative Ladbrokes Racing Club (LRC) program.
Launched with great enthusiasm in 2023, the Ladbrokes Racing Club allowed members to experience the thrill of racehorse ownership across the thoroughbred, harness, and greyhound racing codes.
Despite its growing popularity, Entain Australia CEO Dean Shannon said a variety of factors led to the decision to wind down the initiative.
“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,” Shannon said.
“Unfortunately, the Club is not immune to the rising cost of operating pressures currently affecting the wagering sector.”
Shannon cited increasing product fees and taxes as key challenges impacting the sustainability of the program.
“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,” he explained.
“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,” Shannon added.
“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.”
The decision comes at a critical moment for the wagering industry, as operators await the Federal Government’s response to the online gambling enquiry.
Simultaneously, wagering companies are negotiating with the AFL over a revised product fee agreement, with the league seeking a larger share of betting revenues for future seasons.
Entain Australia is also managing ongoing scrutiny from AUSTRAC, which is investigating potential breaches of anti-money laundering regulations.
In the coming months, LRC will begin parting with its racing stock, ensuring that animal welfare remains a top priority.
Some horses will be sold through Inglis Digital, while others may continue their careers in New Zealand.
Entain’s close relationships with prominent studs, such as Newgate Farm, add another layer to the transition.
Although the Ladbrokes Racing Club is winding down in Australia, Shannon reaffirmed Entain’s ongoing commitment to the local racing industry, including substantial sponsorship investments across all three codes.
He also emphasised that Entain’s operations in New Zealand would remain unchanged.
“The TAB Racing Club in New Zealand will remain unaffected and continue to be active on the track.”