Entain offers $100m for online gambling monopoly

If Kiwi filly Legarto (15) can find fortune outside NZ, maybe the TAB can too. (Image: Getty)

Tue, 27 Jun 2023

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...

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