"As such, the company has been forced to reassess the sustainability of certain sponsorships going forward, with the Coral Cup being affected, despite horse racing avoiding large tax rises. "It is with a heavy heart that I confirm Coral will not be renewing its long-standing sponsorship of the Coral Cup," said Simon Clare, Entain's PR and Sponsorship Director, in a statement to ReadWrite. This was also confirmed by Entain's Head of Corporate Media, Chris Alfred, in posts on X."
""Ending our sponsorship after 52 years is incredibly regrettable, but reflects the need to reassess where and how we invest under the new cost landscape. "The Jockey Club remains a valued and long-standing partner, and we look forward to continuing our collaboration across the many major Coral and Ladbrokes sponsorships we continue to support.""
Entain has confirmed it will not renew its 52-year sponsorship of the Coral Cup at the Cheltenham Festival after sponsorship began in 1974. The decision follows a rise in betting taxation announced in the UK budget, prompting a review of marketing spend and the sustainability of certain sponsorships. Company spokespeople expressed regret and emphasized the need to reassess investment under the new cost landscape while affirming continued involvement in other Coral and Ladbrokes partnerships. Executives previously warned higher taxes would force cuts and risk driving customers to the black market. Sources indicate broader strategic motives behind the change.
Read at ReadWrite
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