Entain Australia's New Boss Andrew Vouris: Win, ‘but not at all costs'

[Chief Stipe]

Entain Australia boss Andrew Vouris: Win, ‘but not at all costs'

www.racenet.com.au

Newly-appointed Entain Australia boss Andrew Vouris is waiting for no one in his plans to make his mark on the Australasian arm of the global betting behemoth.

Vouris – who succeeds Dean Shannon at the helm of wagering brands Ladbrokes and Neds after the highly respected executive stepped down recently declaring "the time right for change" – assumes the top job with a wealth of wagering experience behind him.

Renowned for his no-nonsense approach and a love for innovation which has earned him the respect of racing's most senior figures, Vouris' 17-year wagering tenure has been as diverse as it has been rewarding.

And it's that firm grasp of a complex and always evolving wagering ecosystem that pinpointed Vouris as the man to lead the organisation into a new frontier, having undergone a total management overhaul in the past year.

"I've been really forthright in my communication to the team – I want us to win, yes, but not at all costs," Vouris said.

"We've got a hardworking and passionate workforce both here in Australia and New Zealand but there's always room for improvement and we're steadfast in our commitment to do that.

"With challenges comes opportunity."

The pointed comments in part speak to Entain Australia's ongoing Federal Court battle with AUSTRAC over historic allegations of noncompliance with anti-money laundering laws.

In 2017, when working for Tabcorp, Vouris had responsibilities in helping navigate that company's own AUSTRAC proceedings, before coming out the other side.

Vouris acknowledged that the matter continued to place a heavy burden on the organisation but he was now very much in the mindset of looking forward rather than back.

"I obviously can't speak on the matter specifically other than to say as an organisation we have changed significantly and continue to do so," Vouris said.

"My prime focus is putting all our energy into connecting with our customers and stakeholders as best we can.

"At the core, punters want great products and competitive prices and that's our focus.

Ladbrokes continues to invest heavily in greyhound racing sponsorship across the country

"Our integration of the New Zealand TAB in the past year or two has absorbed a lot of our resources but with that now complete, we can get back to innovation and growth which is a passion of mine."

The seismic change hasn't just been confined to a management revamp, with Entain Australia undergoing something of a realignment across other facets of the business.

That included the cessation of a number of initiatives including the winding up of Ladbrokes Racing Club in Australia.

"At the end of the day we are a bookmaker – that's our business, bookmaking," Vouris said.

"When you over-complicate things and overextend yourself you can lose your way."

With a successful background in start-ups (Unikrn and Luxbet) and a decade at Tabcorp, Vouris is as qualified as anyone to speak to the exponential threat facing racing.

"The tax regime is a huge concern for the long-term sustainability of racing – that's been well documented," Vouris said.

But Vouris said the challenges did not end there.

"Offshore and emerging cryptocurrency casino operators are a major threat too," he said.

"They are growing at exponential rates, and the foreign licensing isn't returning anything on the domestic front.

"Some of the financial projections of what's being spent in these offshore casino markets is frightening and should be alarming to Australian racing.

"Action really needs to come now."

Among Ladbrokes' vast portfolio of major sponsorships is the Cox Plate.

Quizzed on whether these challenges could ultimately impair Entain Australia's ability to remain aggressive in the racing sponsorship space, Vouris refused to rule it out.

"While others have been retreating in his space we've tried to remain as aggressive as possible," he said.

In recent months, rumours have intensified about the prospect of major corporate bookmakers like Ladbrokes and Sportsbet playing a role in bringing a national tote to life.

It's been mooted that Tabcorp's hopes of merging the three tote pools includes plans for middle and best tote money from the top corporates also being channelled into the pool in a bid to generate even higher liquidity.

But Vouris isn't sold.

"Show me a punter that would rather take a national tote price against the best price of the current three totes," he said.

"I'm not convinced a national tote will be the huge win for racing it's being sold as.

"I think there's a lot that hasn't been considered on that front."