Entain

International betting company Entain is set to take over the day-to-day operations of the New Zealand TAB in a 25-year deal. Entain, which runs the ...

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Tab NZ, the sole holder of a betting licence in New Zealand, has entered into a long-term strategic partnership with Entain.

“This is a unique opportunity to shape the future wagering experience for customers and to support New Zealand’s racing and sporting industries,” Entain Australia chief executive Dean Shannon said. “This proposed strategic arrangement with Entain provides a certain, material and immediate uplift in the funding Tab NZ can provide New Zealand racing and sports ensuring that these industries not only survive but thrive. In the absence of a strategic partnering arrangement, Tab NZ would be further cutting distributions in the next financial year.”

Global gaming giant Entain is about to lock in a massive victory. After a heated battle for control of New Zealand's NZ Tab sports betting monopoly, ...

Should it approve new legislation, Entain will also have to support the effort and help keep offshore sportsbooks out of the country. Dean Shannon, the CEO of Entain in Australia, referred to this decision as a “unique opportunity to shape the future wagering experience for customers and to support New Zealand’s racing and sporting industries.” This will be a springboard toward greater revenue for racing in the country. That led to a battle between some of the biggest names in the industry, with Entain apparently taking the lead. The total value of the deal has been kept a secret, with NZ Tab providing the only clue about the amount of money that will flow. After a heated battle for control of New Zealand’s NZ Tab sports betting monopoly, the company emerged a winner, provided regulators greenlight the deal.

The arrangement would see Entain take over the majority of Tab NZ's day-to-day operations. This would include overseeing the wagering licence for New Z.

“In the absence of a strategic partnering arrangement, Tab NZ would be further cutting distributions in the next financial year.” Tab CEO, Mike Tod, said: “Tab NZ faced an uncertain future in a David and Goliath battle with international wagering operators and a lack of capital to both compete and meet its potential. “Today’s announcement is a significant milestone toward the transformation of Tab NZ and those who rely upon its growth and long-term success.

The single racing and sports betting agency in New Zealand, TAB NZ, announced it joined forces with the globally recognized and leading betting and gaming ...

William is a strong asset to the GamblingNews team as he adds a bedrock to our reporting. “This is a unique opportunity to shape the future wagering experience for customers and to support New Zealand’s racing and sporting industries,” he said. Finally, Tod predicted that the deal will help not only TAB NZ but the whole industry. The selection of Entain comes after TAB NZ has been reviewing proposals for the last six months. Overall, the collaboration covers a period of 25 years. Details about the new strategic collaboration emerged Monday.

International betting company Entain is set to take over the day-to-day operations of the New Zealand TAB in a 25-year deal. Entain, which runs the ...

[New Zealand Herald](https://www.nzherald.co.nz/sport/tab-signs-25-year-partnership-with-international-betting-company-entain/2AIQJ4BNERFQZI7M6V4U6K5CZI/) [click here](https://www.nzherald.co.nz/sport/tab-signs-25-year-partnership-with-international-betting-company-entain/2AIQJ4BNERFQZI7M6V4U6K5CZI/). [NZ Herald reports that](https://www.nzherald.co.nz/sport/tab-signs-25-year-partnership-with-international-betting-company-entain/2AIQJ4BNERFQZI7M6V4U6K5CZI/) international betting company Entain is set to take over the day-to-day operations of the New Zealand TAB in a 25-year deal.

UK gaming giant Entain has beaten out competition from gaming operators around the world, including Australia's Tabcorp, to secure a 25-year license with ...

“This proposed strategic arrangement with Entain provides a certain, material and immediate uplift in the funding TAB NZ can provide New Zealand racing and sports ensuring that these industries not only survive, but thrive. “Today’s announcement is a significant milestone toward the transformation of TAB NZ and those who rely upon its growth and long-term success. TAB NZ explained that it has faced “increasing competition, rising costs, capital constraints as well as other challenges” in recent years which have impacted its ability to deliver adequate funding to racing and sports.

Entain plc (LSE: ENT), the leading global sports betting, gaming and interactive entertainment group (“Entain” or the “Group”), announces that it has been ...

These forward-looking statements, which may use words such as "aim", "anticipate", "believe", "could", "intend", "estimate", "expect", "may", "plan", "project" or words or terms of similar meaning or the negative thereof, are not guarantees of future performance and are subject to known and unknown risks and uncertainties. This announcement is being issued by and is the sole responsibility of Entain. Many of these risks and uncertainties relate to factors that are beyond Entain's ability to control or estimate precisely, such as changes in taxation or fiscal policy, future market conditions, currency fluctuations, the behaviour of other market participants, the actions of governments or governmental regulators, or other risk factors, such as changes in the political, social and regulatory framework in which Entain operates or in economic or technological trends or conditions, including inflation, recession and consumer confidence, on a global, regional or national basis. As the partner of choice for New Zealand, we have made a firm commitment to employment continuity for at least 24 months, with the team at TAB NZ essential to our future vision and growth of the market in New Zealand. The Group has set a science-based target, committing to be carbon net zero by 2035 and through the Entain Foundation supports a variety of initiatives, focusing on safer gambling, grassroots sport, diversity in technology and community projects. TAB NZ is established as a body corporate under the Racing Industry Act 2020 (NZ). Entain is a leader in ESG, a member of FTSE4Good, the DJSI and is AA rated by MSCI. The Group is tax resident in the UK and is the only global operator to exclusively operate in domestically regulated or regulating markets operating in over 40 territories. The Group owns proprietary technology across all its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis. This is a unique opportunity to shape the future wagering experience for customers and to support New Zealand’s racing and sporting industries. The proposed strategic arrangement, and timing of completion, remains subject to approval from the New Zealand Minister for Racing. - Entain have agreed to make payments of up to NZ$260m (approximately £132m1).