New Zealand racing hoping new 25-year Entain link-up can provide 'critical shift'
The New Zealand horseracing industry is hoping the proposed 25-year partnership announced last week in which Entain would take over the operations of the country's sports betting monopoly TAB NZ will provide much-needed security for the sport.
Former BHA chief executive Paul Bittar, who had helped the TAB NZ board in developing its strategy and process, described the news in a LinkedIn post as a "monumental day" for the operator, its racing and sports partners and New Zealand punters.
Among the benefits of the partnership are guaranteed funding to TAB NZ of more than NZ$1 billion (approx £506 million/€575m) in the first five years, "to support the revitalisation of the racing industry", along with additional support to the racing industry including the NZ$10m sponsorship of an "enhanced racing carnival".
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