The firms have confirmed extended broadcasting and wagering rights for racing in Australia and New Zealand.
Australia.- Two major betting companies, Tabcorp and TAB NZ, have renewed their 2007 broadcasting and wagering agreement for racing in Australia and New Zealand.
The enhanced package of rights agreed between the two firms was designed to guarantee the ongoing broadcast of New Zealand racing into Australia through the Tabcorp-owned Sky Racing network.
Australian racing events are broadcasts in New Zealand, meanwhile, via TAB NZ’s Trackside broadcasting service.
The new agreement states that Tabcorp will also continue to market NZ racing internationally through Sky Racing, which exports Australian racing to over 65 countries.
The multi-year deal provides certainty for the co-mingling of tote pools in both countries.
Data provided from the two firms shows that trans-Tasman punters wager a combined total of AU$1.3bn (US$957.69m) a year.
TAB NZ executive chair Dean McKenzie said: “The revenue generated through our agreement with Tabcorp has a direct benefit for thousands of Kiwis who rely on racing for their livelihood.
“The new contract provides a range of advantages for New Zealand’s racing codes and we’re confident that it will help further enhance New Zealand’s racing reputation in New Zealand and in racing markets overseas.”
Tabcorp managing director for wagering and media Adam Rytenskild said: “We are strong supporters of New Zealand racing and we’re pleased to continue to work closely with TAB NZ.
“Through this agreement, we will continue to showcase New Zealand racing in Australia and around the world via Sky Racing and to facilitate the broadcast of Australian racing in New Zealand.”