revenue from international online gaming<\/a><\/em><\/strong> is estimated to be $400million a year and the government is already looking at ways to subsidise this loss. <\/p>\n\n\n\nIt also plans to help sports and community groups where income has been significantly reduced from lower gaming revenue due to the closure of pubs and clubs.<\/p>\n","protected":false},"excerpt":{"rendered":"
NZ$72.5million will be provided in an emergency support package, which includes NZ$20million to build two new all-weather race tracks.<\/p>\n","protected":false},"author":2,"featured_media":3378,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The New Zealand government is injecting NZ$72.5 million into its horse racing industry to mitigate the financial impact of Covid-19 and pre-existing vulnerabilities, including NZ$20 million for infrastructure and NZ$50 million for the Racing Industry Transition Authority. This intervention addresses a significant risk of insolvency and aims to secure future reforms, while also acknowledging a substantial annual loss from international online gaming. The government is also exploring ways to subsidize the estimated $400 million annual revenue loss from international online gaming and support other community groups affected by reduced gaming revenue.","focusai_entities":"Racing Industry Transition Authority, Winston Peters","focusai_location":"New Zealand","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.7), operator_casino (0.75), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on GGR?","query":"How will this NZ$72.5 million emergency package, particularly the NZ$50 million for the Racing Industry Transition Authority, impact the overall GGR and NGR projections for the New Zealand racing vertical in the next 12-24 months?"},{"label":"Online Gaming Subsidy?","query":"What specific policy mechanisms is the New Zealand government exploring to subsidize the estimated $400 million annual revenue loss from international online gaming, and what are the potential implications for domestic B2C licensing frameworks?"}],"footnotes":""},"categories":[16336,161,163],"tags":[4256,338,233],"class_list":["post-6432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-daily-news","category-finance-news","tag-horse-racing","tag-new-zealand","tag-sports-betting"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=6432"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6432\/revisions"}],"predecessor-version":[{"id":21192,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6432\/revisions\/21192"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/3378"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=6432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=6432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=6432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}