Business
TAB NZ partnership receives Government approval
TAB NZ partnership receives Government approval.
About this update from Entain Plc
[{"type":"text","content":"\n\n23 May 2023\n \nEntain plc\n \nStrategic partnership with TAB New Zealand receives Government approval\n \nEntain plc (LSE: ENT), the leading global sports betting, gaming, and interactive entertainment group (\"Entain\" or the \"Group\"), announces that its strategic partnership with TAB New Zealand (\"TAB NZ\") has received approval from the New Zealand Minister for Racing. \nAs announced on 28 March 2023 (Link), the 25-year strategic partnership terms include a total consideration payable by Entain and an ongoing gross profit share arrangement.\nSubject to conditions of completion, the strategic partnership is expected to commence on 1 June 2023.\nDean Shannon, CEO of Entain Australia, comments:\n\"We are delighted and honoured to have received Ministerial approval to finalise the strategic partnering agreement between TAB NZ and Entain Australia.\nWe 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.\nEntain 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.\"\n \n \nEnquiries:\n\n\n\nInvestor-Relations - Entain plc\nDavid Lloyd-Seed, Chief IR & Communications Officer\nDavina Hobbs, Head of Investor Relations\nAimee Remey, VP US Investor Relations\nCallum Sims, IR Manager\n\n\[email protected]\[email protected]\[email protected]\[email protected]\[email protected]\n \n\n\n\n\nMedia - Entain plc\nLisa Attenborough, Head of Corporate Communications\nKarl deKroo, Stakeholder Engagement- Entain Australia\nJay Dossetter, Head of Corporate PR\nJodie Hitch, PR Manager\n\n\[email protected]\[email protected]\[email protected]\[email protected]\[email protected]\n \n\n\n\n\nPowerscourt\nRob Greening/Nick Hayns/Sam Austrums\n\n\nTel: +44 (0) 20 7250 1446\[email protected]\n\n\n\n \n \n \nAbout Entain plc\n \nEntain pl...