Ladbrokes Australia makes Northern Territory licensing switch
Firm will operate under new regulatory model following recent changes to the status of Norfolk Island regulator
Ladbrokes Australia will begin life as a Northern Territory-licensed operator this week after recent regulatory uncertainty in Norfolk Island prompted the firm to switch licensing jurisdictions, EGR has learned.
From 28 September the company will operate under a new licence granted by the Northern Territory Racing Commission, joining rival operators including William Hill, bet365 and Unibet as one of the state’s licensees.
In a message to customers, Ladbrokes said: “We are pleased to announce that from 28 September 2016, Ladbrokes.com.au will be operating under a Northern Territory Bookmakers Licence.
“This change means that you will have the peace of mind of knowing that you are dealing with a bookmaker that has been around since 1886 and is licensed by the Northern Territory Racing Commission, Australia’s pre-eminent licensing authority for bookmakers.”
Ladbrokes’ Australian arm was previously licensed by the Norfolk Island Gaming Authority but the regulator’s future was thrown into doubt this year after the state ceded its status as a self-governing territory of Australia in July.
The Norfolk Island Gaming Laws have yet to be repealed but the Gaming Supervision Direction 2016 issued on 6 April restricted the regulator’s ability to grant or renew licences. All existing licences remain in force.
However, a senior source at Ladbrokes Australia told EGR that “uncertainty” over Norfolk Island’s future as a licensing jurisdiction had played a key role in the operator’s decision to move to the Northern Territory.
The source also cited a lack of support from Australia’s racing bodies and senior personnel changes at the Authority as having impacted the firm’s decision.
The Norfolk Island regulator requires licensed wagering operators to have product fee agreements in place with racing and sporting bodies.
News of Ladbrokes Australia’s decision to switch licensing jurisdictions comes after the operator said earlier this year it would pull its live betting product as a “show of good faith” with the Northern Territory Racing Commission.
The regulator previously announced it would require operators licensed in the state to cease offering in-play wagering and Ladbrokes opted to follow its lead despite being licensed by Norfolk Island.
Ladbrokes Australia is to be led by a new chief executive â Paul Cherry â from February 2017 after current CEO Dean Shannon recently said he would stand down in the coming months.