{"id":777006847,"date":"2023-07-03T09:36:12","date_gmt":"2023-07-03T12:36:12","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777006847"},"modified":"2026-04-22T20:26:37","modified_gmt":"2026-04-22T23:26:37","slug":"tab-nz-announces-record-us131-15m-funding-for-2023-24-racing-season","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/tab-nz-announces-record-us131-15m-funding-for-2023-24-racing-season","title":{"rendered":"TAB NZ announces record US$131.15m funding for 2023\/24 racing season"},"content":{"rendered":"\n

TAB NZ said the funding will be used to support the three racing codes in New Zealand: thoroughbred, harness, and greyhound racing.<\/p>\n\n\n\n\n\n\n\n

New Zealand.- TAB NZ<\/strong> has announced it will provide NZ$215m (US$131.15m) in direct funding for the upcoming 2023\/24 racing season. The record allocation will support various aspects of the racing ecosystem, including the distribution payment to Racing New Zealand, the Racing Authorised Purpose, and the independent Racing Integrity Board.<\/p>\n\n\n\n

An additional NZ$30m has been made available to the three racing codes after previous funding increases approved under TAB NZ’s strategic partnering arrangement with Entain<\/a>. <\/p>\n\n\n\n

Nick Roberts<\/strong>, chief executive officer of TAB NZ, said: \u201cTAB NZ recognises bold funding decisions are required to sustain this storied industry for generations to come. 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.\u201d<\/p>\n\n\n\n

\u201cThis 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.\u201d<\/p>\n\n\n\n

TAB NZ has made the decision to allocate funding for the Racing Integrity Board from sources other than its class 4 gaming operations. As a result, a contestable fund of NZ$15m will be available for applications under the Racing Authorised Purpose.<\/p>\n\n\n\n

Roberts stated: \u201cWe\u2019re keen to back those that are in relentless pursuit of sustainable outcomes \u2013 and we expect that will be a key consideration when determining future funding applications.<\/p>\n\n\n\n

\u201cA month into the partnership with Entain, we are deeply encouraged by some of the announcements we have seen out of the industry<\/strong> \u2013 especially New Zealand Thoroughbred Racing\u2019s Strategic Funding Document announced two weeks ago.\u201d<\/p>\n\n\n\n

The racing calendar for the 2023\/24 season will offer 968 meetings<\/a> through its collaboration with the three racing codes: the New Zealand Thoroughbred Racing, Harness Racing New Zealand, and Greyhound Racing New Zealand. There will be 294 thoroughbred meetings, 242 harness meetings and 432 greyhound meetings for 9,899 races in total.<\/p>\n","protected":false},"excerpt":{"rendered":"

TAB NZ said the funding will be used to support the three racing codes in New Zealand: thoroughbred, harness, and greyhound racing.<\/p>\n","protected":false},"author":176,"featured_media":23932,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"TAB NZ has announced a record NZ$215m (US$131.15m) direct funding allocation for New Zealand's 2023\/24 racing season, supplemented by an additional NZ$30m from its strategic partnership with Entain. This significant investment aims to ensure industry sustainability, enhance animal welfare, and improve customer product offerings, with a focus on initiatives delivering long-term value rather than merely maintaining the status quo. Funding for the Racing Integrity Board will now come from non-Class 4 gaming operations, creating a contestable fund for sustainable projects.","focusai_entities":"TAB NZ, Entain, Nick Roberts, Racing New Zealand, Racing Integrity Board, New Zealand Thoroughbred Racing, Harness Racing New Zealand, Greyhound Racing New Zealand","focusai_location":"New Zealand","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.75), operator_casino (0.8), investor_analyst (0.95), supplier_vendor (0.85), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Entain partnership impact","query":"What specific performance metrics or strategic objectives are tied to the NZ$30m funding increase derived from the Entain partnership, and how will their achievement be measured?"},{"label":"Funding sustainability criteria","query":"What are the precise criteria and governance frameworks TAB NZ will employ to evaluate future funding applications for the contestable NZ$15m fund, ensuring alignment with 'sustainable outcomes' and avoiding 'status quo' funding?"}],"footnotes":""},"categories":[16336,157],"tags":[233,23709],"class_list":["post-777006847","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","tag-sports-betting","tag-tab-nz"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006847","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777006847"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006847\/revisions"}],"predecessor-version":[{"id":777006872,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006847\/revisions\/777006872"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/23932"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777006847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777006847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777006847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}