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Rio Bhodi’s Classic Nowra mission
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Eurokash returns to Addington
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Kiwi-bred filly scores first up
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Hasabro primed for Riccarton feature
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Fee rise for Little Avondale’s Per Incanto
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Hong Kong’s prize money hits record levels
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Yozo – ‘The Sentimental Bloke’
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Seajetz marks first runner back for Richards
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Colt out to further Derby claims
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Geelong Gold Cup Final: Armchair Guide
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Pinnacle horse racing review & promotions 2022
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By Chief Stipe · Posted
I suspect McAnulty and NZTAB over promised with the legislation and the projected financial numbers were inflated. ENTAIN over valued the business from the beginning. The write down is just a paper loss at this stage. -
By Chief Stipe · Posted
You weren't comparing apples with apples. The large differences in NZ tote pools was when they switched from NZTAB only tote pools to the World Pool. Obviously the latter would always be much larger than the NZ tote. Simply because Race 4 WASN'T a world pool race. -
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By Wandering Eyes · Posted
Horse Racing Radio Network will celebrate the storied history of the Virginia Thoroughbred industry leading up to Saturday's $500,000 Virginia Derby, the first-ever Kentucky Derby qualifying race at Colonial Downs.View the full article -
By Chief Stipe · Posted
Entain recruits more Kiwi gamblers, but writes down TAB NZ by $322m Tom Pullar-Strecker March 11, 2025 Entain says it is encouraged by TAB’s “accelerating moment”, but has reduced forecasts for its underlying growth.MONIQUE FORD / THE POST British gambling giant Entain says it grew the number Kiwis gambling through the TAB by 10% last year and increased its net gaming revenues by 4%. Net gaming revenues measure the value of bets placed after expenses such as taxes. It said in its annual report that it was encouraged by the TAB’s “accelerating momentum through the year”. “More customers in New Zealand are enjoying an enhanced and engaging sports betting experience,” it said. However, Entain indicated it did not expect to make as much profit as it had expected a year ago from the gambling partnership, announcing it had written down the book value of the business by £142.5m (NZ$322m) to just £89m. Entain attributed part of the write-down to the Government being slow to implement planned technical measures to block Kiwis from easily accessing rival overseas gambling websites. But it said it had also reduced its forecasts for TAB NZ’s underlying growth. “Growth in New Zealand has been good, up 4% for the year and up 7% in the second half of the year, but we're still waiting for the ‘legislative net’, which is the catalyst for the licence market to grow materially,” chief financial officer Rob Wood told investors. “We believe that's on track to come this year, but the delay does mean we're a little behind our original forecasts.” In May 2023, the former government gave the TAB the green light to effectively outsource its entire business to Entain. Entain, whose brands include Ladbrokes, agreed to take over the running of the TAB’s betting and broadcast operations for 25 years in return for half of the TAB’s net betting revenues — guaranteeing the racing industry pay-outs of $900 million over five years from the half share it didn’t take. TAB New Zealand has so far refused to release full details of the strategic partnering agreement with Entain that was approved by the former government in 2023. A request from The Post for the release of the contract under the Official Information Act has been under consideration by the Ombudsman since July 2023.
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