Entain Wins Bid to Become New Zealand’s Sports Betting Monopoly

TAB New Zealand (TAB NZ), the monopoly in the betting sector in New Zealand, has announced British gambling company Entain as its preferred partner for sports betting management in the country, according to the NZ Herald.

The parties have signed a licensing agreement under which Entain will take over the day-to-day operations of most of TAB NZ for the next 25 years.

As part of the deal, Entain will manage hundreds of TAB NZ retail outlets across New Zealand, as well as sports betting terminals and online and telephone betting. Entain has also pledged to keep all TAB employees for at least two years.

However, the deal is still pending approval from New Zealand Racing Minister Kieran McAnulty.

The deal will be reviewed to ensure it meets standards for minimizing harm from gambling and meets obligations to the racing industry and sports codes. The verdict on the deal is expected to be announced this week.

It’s worth noting that Entain beat out two other gambling companies, Sportsbet and Tabcorp, for the 25-year licensing agreement. Entain’s bid was deemed the most appealing, in part because they offered the highest bid (exact sum undisclosed).