Compliance Updates

Entain Partnership with TAB New Zealand Receives Government Approval

Published

2 years ago

May 24, 2023

Niji Narayan

Reading Time: < 1 minute

Entain plc announced that its strategic partnership with TAB New Zealand (TAB NZ) has received approval from the New Zealand Minister for Racing.

As announced on 28 March 2023, the 25-year strategic partnership terms include a total consideration payable by Entain and an ongoing gross profit share arrangement.

Subject to conditions of completion, the strategic partnership is expected to commence on 1 June 2023.

Dean Shannon, CEO of Entain Australia, said: “We are delighted and honoured to have received Ministerial approval to finalise the strategic partnering agreement between TAB NZ and Entain Australia.

“We believe this 25-year strategic partnering arrangement will be a game-changer for sports betting in New Zealand and we are pleased that it will help provide significant financial benefits to the three New Zealand racing codes and the vast array of national sporting organisations.

“Entain is a business built on innovation and being customer focused and we look forward to connecting further with the great team at TAB NZ to introduce a range of new world class products, services and player safety tools to the loyal TAB NZ customer base.”

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.