Toxic betting industry no barrier to the Murdochs as they up gambling stake

The Murdochs are going all in on sports betting as red tape falls away.

Dec 08, 2020

Lachlan and Rupert Murdoch (Image: PA/Doug Peters)

The Murdoch family has profited big time from the gambling industry over the years and they are doing it again with Dublin-based Flutter Entertainment, which last week bought an additional 37% stake in US fantasy sports outfit FanDuel for a whopping US$4.2 billion.

The deal was partly funded by a $1.8 billion Flutter share placement which the Murdoch-controlled Fox Corp was happy to back once again.

The Flutter announcement included this 16-page presentation, plus this approving quote from Fox Corp CEO Lachlan Murdoch:

Fetch your first 12 weeks for $12

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About the Author

Stephen Mayne

Journalist and Crikey founder @MayneReport

Stephen Mayne founded Crikey in February 2000 and has remained as a contributor since selling it in 2005. He’s a former Kennett government staffer and City of Melbourne councillor who is currently serving on City of Manningham in Melbourne’s east. He has also worked and volunteered in the shareholder advocacy and gambling reform space.