TATTS GROUP BETS ON REMODEL TO BOOST SALES

UBET has opened its first Australian store in Brisbane, as part of a multi-million dollar rebranding strategy of TattsBet.

The UBET New Farm store is the first to be overhauled in its network of more than 1200 retail sport and race betting outlets.

Parent company Tatts Group (ASX:TTS) is chasing an increase in sales following the model, as well as lift market share and secure the future of the racing industry in the state.

TattsBet chief operating officer Barrie Fletton says it is a significant milestone ahead of the full production launch, including website and mobile apps.

"The customer and innovation have been at the heart of this concept," Fletton says.

"This is designed to be a fully immersive experience, second only to being at the game or at the track.

"We expect to attract a younger, more sports-focused punter who might not have previously found the TAB to be appealing."

The new store features modern video wall technology, directional audio and sports stadium seating, in a concept touted as 'your home arena'.

The design will be complemented with UBET Live, a digital sports betting solution that allows users to bet using a customised app.

"While the online channel is growing, retail still represents 70 per cent of our business and gives us a unique and truly multi-channel offering compared to the online-only competitors," Fletton says.

"UBET Live is without a doubt a game-changer for wagering in Australia, allowing punters the flexibility and ease to bet live on an in-house digital platform.

"This is a huge advantage for us as we look to grow market share in a highly competitive sector."

Tatts Group will take a "customer-centric" approach to the rollout, by gathering feedback about potential modifications to the store layout.

The complete rebranding is expected to take up to four years, with about 42 stand-alone agencies and 250 TABs to be converted into UBET stores in the next year.