Business
New Zealand Government Establishes Legislative Net
New Zealand Government Establishes Legislative Net.
About this update from Entain Plc
[{"type":"text","content":"\n\n30 June 2025\n \n \nEntain plc\n(\"Entain\" or the \"Group\")\n \nNew Zealand Government establishes legislative net for racing and sports betting industry\n \nEntain plc (LSE: ENT), the global sports betting and gaming group, is pleased to note that the New Zealand Government's amendments to the Racing Industry Act 2020 have received Royal Assent. Link\n \nThe amended Racing Industry Act includes the establishment a \"legislative net\" in New Zealand and extends the statutory body TAB New Zealand's (TAB NZ) existing exclusivity for land-based racing and sports betting to include online-provided gambling. \n \nEffective from 28 June 2025, the legislative net prevents unlicensed offshore operators offering wagering services to Kiwis. This will ensure funds staked wagering remain onshore to maintain and improve the long-term financial sustainability of the New Zealand racing and sports industry, as well as strengthening harm minimisation measures for players.\n \nIn June 2023, Entain Australia and TAB New Zealand entered a 25-year strategic partnership to provide New Zealand customers an enhanced onshore betting experience, including leading safer gambling tools.\n \nIn line with the partnership agreement Link, Entain will make an additional NZ$100m payment to TAB NZ upon the implementation of the legislative net across the New Zealand betting industry.\n \nSam Moncur, Entain Australia and New Zealand's Managing Director - New Zealand, said:\n\"Entain is proud to be building on TAB NZ's legacy of racing and sport in New Zealand and is privileged to provide an engaging betting experience to Kiwis. This legislative amendment further deepens our commitment to the industry. Alongside the ongoing efforts from government, members and sponsorship, we are honoured that Entain's financial support of sporting and racing codes through our strategic partnership, plays a role in strengthening communities and teams across New Zealand.\"\n \nEnquiries:\n\n\n\n\nInvestor Relations - Entain plc\n\n\[email protected]\n\n\n\n\nMedia - Entain plc\n\n\[email protected]\n\n\n\n\nMedia - Entain Australia & New Zealand\n\n\[email protected]\n\n\n\n\nSodali & Co\nRob Greening/Russ Lynch/Sam Austrums\n\n\nTel: +44 (0) 20 7250 1446\[email protected]\n\n\n\n\n ...