New Zealand Thoroughbred Racing (NZTR) is thrilled by the government announcement to introduce a “legislative net” granting TAB NZ the exclusive rights for online wagering in New Zealand.

NZTR Chairman Russell Warwick applauded the Rt Hon Winston Peters for his continued support of the NZ racing industry.

“This announcement is yet another significant milestone for New Zealand racing that has been facilitated by the Minister for Racing and is a major piece of the puzzle to ensure racing is sustainable long-term” Warrick said.

“The NZTR Board and management would like to thank the Rt Hon Winston Peters, his coalition government, and all parties involved for delivering a critical outcome that will have an immensely positive impact on racing. The Minister for racing has been the architect and visionary behind the resurgence of racing in New Zealand and his relentless support is greatly appreciated by the entire industry.

TAB NZ has estimated Kiwis lose $180 million annually to offshore operators. TAB NZ CEO Nick Roberts believes this decision will see those funds returned to the industry while also properly regulating wagering activity.  

“This is a positive outcome which will have national impact. Retaining this money in New Zealand will not only maximise funding to our communities instead of providing profits to foreign companies but also ensure Kiwis can bet in a safe and regulated environment.,” Roberts said.

In June 2023, TAB NZ commenced a 25-year strategic partnering arrangement with sports-betting and gaming group Entain for the delivery of TAB NZ’s betting operations. 

TAB NZ will receive a one-off payment of $100m from Entain once the legislation is in effect, in addition to increased revenue share and other payments over the remainder of the 25-year strategic partnership.