The multi-year deal between Tabcorp and Tab NZ guarantees the ongoing broadcast of New Zealand racing into Australia through the Tabcorp-owned Sky Racing network. Additionally, it ensures that Australian racing will be broadcasted into New Zealand via Tab NZ’s trackside broadcasting service. This collaboration also allows for the co-mingling of tote pools in both countries, supporting bettors in these jurisdictions who wager a combined total of approximately NZ$1.3bn per year.
The agreement, which was first established in 2007, is significant for both nations. It ensures that New Zealanders have access to high-quality Australian racing while also showcasing New Zealand racing to punters in Australia and worldwide. The revenue generated through this partnership has a direct benefit for thousands of individuals involved in the racing industry, contributing to their livelihoods.
Tabcorp’s managing director of wagering and media, Adam Rytenskild, expressed his support for New Zealand racing and emphasized the continuation of their collaboration with Tab NZ. Through this agreement, New Zealand racing will continue to be featured in Australia and globally via Sky Racing. Simultaneously, the broadcast of Australian racing in New Zealand will be facilitated.
In other news, Tab NZ reported a profit for its 2020 financial year, aided by a NZ$41m grant from the government to mitigate the impact of the Covid-19 pandemic on the business. The total revenue for the year amounted to NZ$369.6m, reflecting a 6.2% increase compared to the previous year. However, Tabcorp experienced a 5.7% decline in revenue for the first quarter of its financial year, with revenue decreasing in all but one of its business areas.
