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
Similar Stories
FIFA Proposes $6.3 Billion Global Soccer Development Fund Ahead of Presidential Election
FIFA has proposed a USD6.35 billion (AUD9.31 billion) US funding package for global...
Coles Launches Annual Banana A-Peel Campaign to Support Little Athletics Communities Nationwide
Major Australian supermarket giant Coles has officially launched its highly anticipated annual...
ANTA Sports Completes EUR 1.5bn Acquisition to Become PUMA’s Largest Shareholder
Chinese multi-brand sportswear giant ANTA Sports Products Limited has officially completed its acquisition...
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.