NZ TAB signs 25-year partnership with Entain Group

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 Ladbrokes and Neds brands in Australia, has beaten out huge market rivals Sportsbet and Tabcorp to be the preferred partner for the New Zealand TAB, with the two organisations signing their strategic partnership agreement on Monday morning.

That agreement still has to be approved by Racing Minister Kieran McAnulty but that could happen as soon as this week provided the minister is happy with the terms of the deal.

The Minister for Racing has a big job ahead to ensure the TAB meets its obligations to the racing industry, sporting codes and winning punters. He will have to make sure the deal meets his requirements and that the punters are not restricted in their ability to place bets.

The Minister will also have to be sure that the deal meets harm minimisation standards. Problem gambling is an issue that needs to be addressed and therefore it is essential the Minister is satisfied that the deal meets the standards set out by the government. Furthermore, money laundering legislation must be followed and the Minister will need to ensure that the deal meets the safeguards set out by this legislation.

It is up to the Minister to satisfy all these requirements and ensure the deal is beneficial to all parties, including the horse racing industry, sporting codes and punters.