PointsBet has confirmed that it will not renew its naming rights sponsorship of the Cronulla Sharks stadium when its current deal expires at the end of this year.
The ASX-listed betting agency signed a six-year naming rights deal with the club in 2019. This week, the agency confirmed that, despite the deal being a “fantastic partnership,” it would not be renewing.
The Federal Government has been in talks for quite some to introduce restrictions on gambling advertising in sports. Recently, the parliamentary committee has called for a phased ban on gambling advertising during sporting events within the next three years, with a ban on gambling logos set to follow. Any restrictions that come into play surrounding gambling advertising will impact 14 of the 17 NRL clubs that are sponsored by wagering companies. The Bulldogs, Rabbitohs and Dragons are the only three NRL clubs without a betting company sponsor.
In a statement, PointsBet Australia CEO Andrew Catterall confirmed that under other circumstances, the partnership would likely have been renewed, but with community attitudes toward gambling advertising changing, “stadium naming rights and perimeter signage are no longer appropriate for the category.”
Catterall said that he expected the Albanese government to announce a new gambling advertising regime that would continue to allow for a safe and responsible approach.
“We will continue our long-term support for the Sharks through a different partnership arrangement,” Catterall said. “Any new agreement will align with the expectations of the wider community under what we anticipate to be a reformed national gambling advertising regime”.
The Sharks confirmed in a release to the media that the naming rights for the iconic “Shark Park” will be up for grabs at the end of the year.
“Naming rights to Sharks Stadium (PointsBet Stadium) present a unique commercial opportunity for the right brand. It offers category exclusivity and the chance to engage millions of fans through live sport, entertainment, and hospitality. It has proven to deliver high-value brand exposure to local and national audiences, including through multiple NRL broadcast partners and growing visitation in a thriving year-round precinct,” said Mezzatesta.
“This is a great time to be partnering with the Sharks. Our membership has reached a record high, our NRL team is currently sitting on top of the ladder, and we’ve had five from five sold-out home games already this season. Furthermore, the NRL is achieving all-time records across its key performance metrics, including attendance, viewership, and brand health”.
Manly Sea Eagles also have a relationship with PointsBet as the club’s major jersey sponsor. It is understood that talks are under way over their relationship, with the pair exploring other options at the end of the season.
B&T contacted Reclaim The Game, the state government’s initiative to reduce the volume of sports betting advertising but did not receive a comment prior to publication.