Good News for NZ- TAB and Entain partnership gets the green light

Media Release - Tuesday May 23

Minister for Racing Kieran McAnulty has announced the approval of a 25-year partnership between TAB NZ and UK betting company Entain that delivers at least $900 million in guaranteed funding for the racing industry over the next five years.

Minister for Racing Kieran McAnulty addresses the crowd at New Zealand Bloodstock’s Karaka complex. Photo: Trish Dunell

Entain, a UK based group that operates multiple sports betting providers globally, will use their economies of scale and significant technology and capital capabilities to deliver TAB NZ’s betting, wagering and broadcast operations.

“This is one of the most significant days in New Zealand racing history. This deal will reverse falling revenues for racing and provides certainty over the coming years,” Kieran McAnulty said.

“I’m confident this agreement will help secure a solid future for the racing industry and sports in New Zealand through increased financial distributions to national sports organisations.

“TAB NZ has been facing increasing financial challenges over recent years and was facing an uncertain future, largely due to competition from offshore gambling websites.

“The Agreement provides an upfront payment of $150 million upon approval of the agreement. In addition to this there will be a 50% revenue share from day-1 with guaranteed payments of at least $150 million per year for the first five years.

“This partnership will also allow TAB NZ to use Entain's expertise and economies of scale to make necessary upgrades and invest extensively in infrastructure and technology. It will be an improved offering for customers.

“Our racing industry is worth $1.6 billion to the economy and directly employs 14,000 New Zealanders. It’s reliant on TAB NZ distributions, and if they were allowed to fall that would hit the industry hard and jobs and revenue lost.

Advertisement

“It’s important this deal assists in reducing gambling harm. As such I’ve received confirmation from TAB NZ of a $5 million allocation for harm minimisation measures upon approval of the agreement.

“Entain has better harm minimisation technologies, such as facial recognition tools that can be rolled out in TAB venues.

“The partnership between TAB NZ and Entain does not prevent the Government from putting in place further harm minimisation regulation, and I have been clear with TAB NZ that I intend to do so.

“I am also pleased to announce that Cabinet has decided an in-principle agreement to extend TAB NZ’s monopoly for sports and racing betting to the online environment, subject to further work being done.

“The TAB was set up as a monopoly to fund New Zealand racing and sports. But the onset of unregulated online gambling changed the game and our racing and sports industry has been losing money ever since.

“Regulating this environment offers a significant new revenue source for local racing and sport, while also addressing the inherent risks in unregulated online gambling.

“By prohibiting online gambling outside of the TAB the Government can place greater controls over the betting environment. We would expect to also see much more money allocated to harm minimisation, a fairer deal for Kiwi punters and sports codes and a greater focus on animal welfare,” McAnulty said. – NZ Racing Desk

Advertisment
More Reading...
Sires With Winners - Thursday October 2
Here is the full list of 29 stallions which had winners throughout Australasia today with winners and result details.
Sires With Winners - Wednesday October 1
Here is the full list of 49 stallions which had winners throughout Australasia today with winners and result details.
Inglis Ready2Race breeze up footage NOW AVAILABLE ONLINE
Progeny of the likes of Toronado, Exceed and Excel, Harry Angel, Zoustar and Ole Kirk were amongst the standout performers from breeze up sessions conducted this week in the lead up to the Inglis Ready2Race Sale on October 16, footage of which is now available online.
Magic Trials at Caulfield Heath
Early season two-year-olds will step out this Thursday, 2 October, at the Caulfield Spring Trials presented by Magic Millions, with 800m 2YO heats following the opening trial for Group performers at 7:30am on the Caulfield Heath.
Juvenile Trial Watch – Caulfield
Three barrier trials at Caulfield on Thursday morning produced heat winners for first season sires Wild Ruler and Profiteer with the quickest winner being Free Flying, the half-sister by Snitzel to brilliant Group winning mare Learning to Fly.
Kiwi Raider Pier Upbeat Ahead of Epsom
Co-trainer and part-owner Darryn Weatherley is taking a glass half full approach ahead of Saturday’s Gr.1 Epsom Handicap (1600m) after he came up with an awkward wide gate for Pier.
Melody Belle Daughter Set for Long Awaited Debut
It will be a full-circle moment for Te Akau Racing at The Valley on Friday night when Lyrics ‘N’ Song, a daughter of their former multiple Group One winner Melody Belle, makes her debut.
One to Watch – Geelong
Trilogy Racing will have high hopes for the their talented filly Queen of Clubs in the Group I ATC Flight Stakes on Saturday and their colours were in the frame at Geelong on Thursday carried by a Zoustar filly that saluted on debut.
Swettenham Stud Delighted with Lofty Strike Foals
Swettenham Stud are delighted with the growing buzz of excitement surrounding the first foals for young gun sire Lofty Strike.
Blueblood Fillies From $3million Mares
Tom Magnier has been notable for his purchase of elite race fillies and broodmares in recent years to enhance the stellar Coolmore broodmare band and two of his $3million plus mare purchases have produced stunning fillies this spring.