New Legislation to Support New Zealand’s Racing and Sports Betting Industry
The New Zealand Government has announced plans to introduce a “legislative net,” granting TAB NZ exclusive rights to offer online racing and sports betting. The move is expected to address losses of approximately $180 million annually to offshore operators, ensuring funds are retained within New Zealand.
The legislation aligns with TAB NZ’s 25-year partnership with global operator Entain, initiated in 2023. Under this framework, the partnership is projected to deliver over $1 billion in additional funding to the racing industry and sporting bodies. A one-off payment of $100 million from Entain will also follow the legislation’s enactment.
This measure strengthens TAB NZ’s position as the sole statutory body facilitating betting for the benefit of New Zealand’s racing and sports sectors.
Join the free Ministry of Sport newsletter or become a MoS Member for all the latest news in sports business.
Latest News
What's Next
Similar Stories
Shaun White’s Snow League Raises $15 Million as Aspen Debut Approaches
Snowboarding legend Shaun White’s new league secures major backing, including a deal with...
Enfield Investment Partners and SURJ Sports Investment Forge $4 Billion Global Sports Partnership
Collaboration Aims to Transform Global Sports Landscape Enfield Investment Partners and Saudi Arabia’s...
Adidas and Arsenal Celebrate Fourth Year of “No More Red” Initiative
Adidas and Arsenal Football Club have marked the fourth year of their “No...
It's free to join the team!
Join the most engaged community in the Sports Business World.
Get all the latest news, insights, data, education and event updates.
Our Members & Partners