The incoming gaming bill that will transform New Zealand gaming is “not where it needs to be”, the local authorities say.
New Zealand.- The new Racing Industry legislation seems to be a little different to what authorities expected. The Racing Industry Transitional Authority (RITA) said the gaming bill in New Zealand “is not where it needs to be.”
According to the transitional body, the bill doesn’t offer enough flexibility for the roll-out of new betting products. They agreed with Harness Racing New Zealand, which said this could prove restrictive. Therefore, they are pushing for increased flexibility in the new gaming bill for New Zealand.
“From RITA’s perspective, it is essential that TAB NZ has uninhibited access and usage of racing IP in order to be able to monetise that IP effectively. Thereby, to maximise its profits for the benefit of the three racing codes and the wider racing industry, as the legislation intends,” it explained. “In simple terms, for the benefit of the industry, TAB NZ needs to be able to use racing IP to function effectively as a wagering operator.”
“The details of how that will be achieved is a matter for the RIB board and not legislation,” RITA said. “The RIB members will be appointed by the Minister on nominations from codes. They’ll be independent of the codes. That’s an important feature of the new independent model. Moreover, it’s a common structure among a number of industries in New Zealand.”