Further New Season Funding

Date: 6 Jul 2023

Further New Season Funding


More good news in New Zealand as a further $30 million injection of funding to the racing codes is announced by the TAB:


TAB New Zealand has announced its direct funding to the domestic racing industry will reach a record-setting $215 million for the upcoming 2023/24 racing season.

TAB NZ's direct funding of racing is made up of a distribution payment to Racing New Zealand, the application of class 4 gaming proceeds to the Racing Authorised Purpose, and funding of the independent Racing Integrity Board.

The announcement sees a further $30 million made available to the three racing codes in addition to the increases determined at the time the Minister for Racing, Hon Kieran McAnulty, approved TAB NZ's strategic partnering arrangement with Entain.

Nick Roberts, Chief Executive Officer of TAB NZ, said the Entain partnership is a revolutionary moment for racing and one that will deliver the ultimate goal of a long-term, sustainable racing industry.

“TAB NZ recognises bold funding decisions are required to sustain this storied industry for generations to come,” Mr Roberts says.

“Leadership across the industry must own the moment and deliver a right-sized industry, with the best animal welfare standards, and a compelling customer product.”

“This extra injection will deliver the best outcomes if it is targeted towards those types of initiatives that enhance the industry in the long run. Simply increasing the funding of the status quo is not sustainable.”

The increased funding comes from an additional $15 million being added to the TAB NZ distribution to Racing NZ for the 2023/24 racing season, raising it to $185 million - a $60 million increase, almost 50%, on the current season's distribution of $125 million.

Additionally, TAB NZ has determined that it will no longer fund the Racing Integrity Board from its class 4 gaming operation which will allow a contestable fund of $15 million for applications under TAB NZ's Racing Authorised Purpose.

“We're keen to back those that are in relentless pursuit of sustainable outcomes - and we expect that will be a key consideration when determining future funding applications,” Mr Roberts says.

“A month into the partnership with Entain, we are deeply encouraged by some of the announcements we have seen out of the industry - especially New Zealand Thoroughbred Racing's Strategic Funding Document announced two weeks ago.”


New Zealand Thoroughbred Racing responded:

NZTR Supports TAB NZ Funding Announcement

New Zealand Thoroughbred Racing is thrilled that TAB NZ has announced further funding to New Zealand's racing codes over the 2023-24 season. We would like to thank Chairman Mark Stewart, his Board, and management for making this decision.

In essence, the additional funding comes in two forms; both have at this stage a one-year horizon. A further $15 million has been introduced into code annual funding, taking the total for the 2023-24 season now to $185 million.

Further, TAB NZ has announced that for next year, the Racing Integrity Board will not be funded out of Class 4 Gaming, but instead from TAB NZ revenue and reserves. In doing so, they have created a $15 million contestable fund for applications under TAB NZ's Racing Authorised Purpose.

You will recall that in December 2022, following the announcement by TAB NZ to reduce funding by $15 million, NZTR Board and management agreed to use accumulated reserves to maintain stakes funding for the remainder of the 2022-23 season. Today's announcement allows NZTR Board and management to conduct an ongoing review of its current funding commitment for industry initiatives during the 2023-24 racing season.

NZTR's recent announcement with regards to stakes, Club funding and other Initiatives for the 2023-2024 season demonstrates a confident and committed mindset from the Board and Management to inspire and grow the industry in a planned and sustainable manner for generations to enjoy.


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