CHIEF EXECUTIVE OFFICER
Sportsbet
POWER SCORE: 738
POSITION LAST YEAR: 33
CLAIMS TO FAME
- Former marketing executive at UK betting giant Paddy Power
- Has positioned Sportsbet as clear No.1 ahead of Tabcorp in Australia’s competitive sports betting landscape
IT ONCE SEEMED inconceivable that anyone could claim more market share across the Australian sports betting landscape than Tabcorp. Yet, buoyed by a favorable regulatory regime that has allowed them to invest far more into marketing than Tabcorp, industry disrupter Sportsbet has done just that.
Led by former Paddy Power executive Barni Evans, the UK-owned Sportsbet has gone from strength to strength since its 2020 merger with BetEasy, with revenue rising from US$618 million in 2019 to US$1.48 billion in 2020 and US$1.72 billion in 2021.
This, the company said, was enough to see it claim 50% market share – attributing its success to impressive player acquisition during the COVID-19 pandemic.
There promises to be some challenges ahead, however. In order to level the playing field, state governments in three states and territories – Queensland, New South Wales and the Australian Capital Territory – recently announced increases to the Point of Consumption tax charged on corporate bookmakers, with Sportsbet’s parent company Flutter Entertainment estimating this will cost an additional US$27 million in 2022 and US$89 million in 2023.
How Evans – who has served more than 10 years with Sportsbet including the last four as CEO – responds to this new hurdle could well determine whether his firm’s rise continues.
For the full list of 2022 Asian Gaming Power 50 winners, click here.
