Reports NEW ZEALAND REPORT
by the three racing codes – New Zealand Toroughbred Racing Incorporated, Harness Racing New Zealand Incorporated, and New Zealand Greyhound Racing Association Incorporated. Tis board was established in July 2021 and replaces the Judicial Control Authority.
Te new agency is responsible for boosting profits for the racing industry, ensuring profits are returned to sports and also looking at underage and problem gambling.
NZ Toroughbred Racing represents 67 thoroughbred racing clubs operating on 51 galloping tracks. Te industry saw 275 race meetings in FY2022 (ending July 2022) with 2,356 races. Total off course turnover amounted to $401.6m and total on course turnover amounted to $12.2m. Total Racing NZ revenue for FY2022 was $106.3m compared to $89.1m the year previously.
Te Harness Racing New Zealand is the administrative body for harness racing and there are some 265 race meetings held by the 47 harness clubs at 38 venues throughout New Zealand. Te majority of races are held at Canterbury and Auckland and there are more than 3,000 standardbred horses in the country. Average stakes per race is around $10,000.
Tirdly, the Greyhound Racing New Zealand is made up of 10 clubs with the largest being Christchurch Greyhound Racing Club. Greyhound racing was granted full access to the off-site totalisator betting and TAB system in 1981 and this boosted interest in the sector.
Concerns have been raised regarding animal welfare in the industry and a report has been
P100 WIRE / PULSE / INSIGHT / REPORTS
issued by the Racing Integrity Board on the matter outlining changes which are expected to be implemented in the future. Tere were almost 5,000 races last year
Tere were more than 205,000 active TAB customers in 2021 and some 560 TAB outlets plus betting is permitted via
tab.co.nz and TAB mobile app.
More than 60,000 people bet with TAB each week whilst TAB Trackside is the largest sports outside broadcasting operation in the country covering more than 1,000 race meetings each year.
Te 2020/21 season was said to be the most profitable in the history of TAB coming of the back of a difficult 2019/20 season due to Covid restrictions. Te sector saw net profits of $178m (before distributions) which was $46m above budget.
Gross betting revenue for the betting and gaming sector was just over $385m divided between racing with $315.9m and sports with $68.7m.
Dean McKenzie, Chief Transition Officer at the time said in the 2021 annual report: “During the past 12 months the business has been in a consolidation phase. Tis has involved finalising the legislative reforms, adjusting to a more streamlined operating framework, and focusing on the transition of the business to its new role as TAB NZ. We have also been focused on continued tight fiscal management of our costs and ensuring the business is trading in a profitable and sustainable manner, in the midst of changeable and uncertain times.”
More than 60,000 people bet with TAB each week, whilst TAB Trackside is the largest sports outside
broadcasting operation in the country covering more than 1,000 race meetings each year. The 2020/21 season was said to be the
most profitable in the history of TAB after a difficult 2019/20 season due to
Covid restrictions. The sector saw net profits of $178m.
Te first half of 2022 results saw total revenue of $182m (six per cent less than the same period in 2021) mostly down to a decline in revenue from NZ racing shown overseas and the removal of credit card deposit fees.
Gaming machine duty is 20 cents in the dollar on GGR whilst betting duty of 1.33c in the dollar on Gross Betting Revenue was reduced to zero from July 2021. Te betting sector pays 0.52c in the dollar on Gross Betting Revenue as a Problem Gambling levy whilst 0.78c is paid on GGR.
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