Entain offers $100m for online gambling monopoly

Entain offers $100m for online gambling monopoly
If Kiwi filly Legarto (15) can find fortune outside NZ, maybe the TAB can too. (Image: Getty)
Paul McBeth
New Zealand’s racing industry will get a $100 million fillip and an annual sweetener if the government expands the TAB’s domestic gambling monopoly to the online world. London-listed betting agency Entain’s 25-year deal to run TAB NZ’s operations kicked off this month, including an upfront payment of $150m and $10m direct investment into the racing sector, and a 50% gross profit share with guaranteed annual payments of at least $150m for the first five years. The gambling agency this month told investors it will pay...

More Law & Regulation

Migrant exploitation reports rise
Law & Regulation Exclusive

Migrant exploitation reports rise

MBIE says the rise most relates to the accredited employer work visa scheme.

Commercial heavyweights become KCs in bumper round
Law & Regulation

Commercial heavyweights become KCs in bumper round

Last year, only Attorney-General Judith Collins was appointed a King's Counsel. 

Victoria Young 27 Jun 2024
Megaupload execs banned from being company directors until 2028
Law & Regulation

Megaupload execs banned from being company directors until 2028

Former Megaupload executives Mathias Ortmann and Bram van der Kolk have been prohibited from managing or directing any companies for five years, the Ministry of Business, Innovation and Employment (MBIE) says.In June 2022, Ortmann and van der Kolk broke with Megaupload founder Ki...

Staff reporters 21 Jun 2024