Warrnambool Racing Club is eyeing a financial windfall with betting companies expected to open a bidding war for naming rights to its famous May Racing Carnival.
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Betting giant Tabcorp has had naming rights to the carnival for 15 years but instead of rolling over a new deal, The Standard understands the club has told Tabcorp it's going to the open market.
The decision opens up a potential bidding war between international corporate bookmakers Ladbrokes, Sportsbet, Bet365 and Tabcorp for the lucrative rights deal, worth six figures.
It's understood the club will seek expressions of interest from various parties within weeks.
Warrnambool Racing Club chief executive officer Luke Cann declined to comment.
The end of Tabcorp's arrangement comes at a good time because wagering businesses are fighting for territory.
Numerous racing clubs have their courses named after corporate bookmakers and The Standard believes that will become a major focus of discussions. Warrnambool's course has never had a naming sponsor.
The 2024 carnival attracted more than 30,000 patrons last week with more than 14,000 through the gates on the final day, which featured the running of the time-honoured Warrnambool Grand Annual Steeplechase and Warrnambool Cup.
The event, which attracts people from across Australia, is a meeting place for high-profile influential power-brokers - among the crowd on Wednesday, May 1 was former AFL CEO Gillion McLachlan, who looks likely to be the new Racing Victoria chairman.
