AFTER 52 years, it's a big call to change your name and brand.
So does Tatts Group believe it has come up with a winner.
Australia's largest provider of wagering, lotteries and gaming products and services announced on Thursday that from early 2015 its wagering division will wear that moniker.
The new name and logo will be launched across all customer touch points and communications channels and is a key element of the biggest evolution of its business.
CEO and managing director, Robbie Cooke said, 'The rebrand represents a monumental step change for our wagering division, as the business undergoes a transformation to reclaim its leadership position in one of the country's most highly competitive consumer sectors.
'As one of a handful Australian-owned providers in the market and the TAB operator in four states and territories, our wagering business has a proud and rich history.
Currently known as TattsBet, it is one of the country's largest sports and race betting providers and has more than 1,400 retail outlets across Queensland, South Australia, Tasmania and Northern Territory, as well as a national presence through online, mobile app and phone services.
'In recent years, however, consumer behavior has evolved and the competitive landscape changed dramatically with the introduction of corporate bookmakers.'
Not long after taking the helm at Tatts Group in 2013, Cooke said he recognised that the wagering business needed to make significant changes, not least of which was securing its Queensland franchise which was accomplished in June this year.
"We're proud of our wagering division's heritage, and what the business has achieved over the last 52 years.
"However, in recent years the group had underinvested in its wagering business and has been slow to adapt as other corporate bookmakers entered the market.
"We found that we were not keeping up with our customers' needs, but that is all about to change.'
Over the last 12 months Tatts Group has worked with Hulsbosch - one of Australia's leading branding and design agencies - to deliver one, unified, national brand that will live across all the wagering channels, to be rolled out across retail, online and mobile in 2015.
An extensive research project was undertaken to establish an understanding of the wagering market and the current attitudes towards the existing TattsBet brand and its sub-brands.
'We're not just taking a band-aid approach to address the issues we've been facing in the market.
"Instead, we've invested a lot of time to reflect on the business as a whole and look at it objectively through critical eyes, reviewing what makes us successful, and where we fall down,' Mr Cooke continued.
Mr Cooke said the short and sharp name and logo puts the customer at the heart of the experience.
The name is also a colloquial Australian term - a familiar and positive 'of course' statement.
'UBET has been created to evolve the identity of the business and integrate a new philosophy, to put the customer at the heart of what we do with an aim to breed a sense of excitement from our employees extending all the way to our consumers.
'We're improving every corner of the business, investing in digital innovations, our people and the brand identity, to ultimately improve the user experience, in a move to attract new customers, as well as retain our current clientele.'
The new brand will be operational next year, ultimately positioning UBET as a national, competitive player in the market.
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