CORRECT Double-edged sword of online betting eats into Racing Board's earnings

Fri, 04 Apr 2014

(Corrects figure provided by company in fourth paragraph) By Suze Metherell April 4 (BusinessDesk) - New Zealand's Racing Board has posted a 2 percent gain in first-half betting and gaming turnover as it continues to push online gambling options in a bid to drive growth and stem any flow to overseas bookmakers. The national bookie's turnover rose to $1.05 billion in the six months ended Jan. 31, from $1.03 billion in the same period a year earlier. Total gambling income climbed 1.4 percent to $159.9 million as a 3 percent boost in net betti...

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