New Zealand Proposes Key Amendments to Racing Industry Act 2020

New Zealand Racing Minister Winston Peters has unveiled proposed amendments to the Racing Industry Act 2020designed to ensure the long-term sustainability of the country’s racing sector.

A central feature of the proposed changes is granting Tab NZ exclusive rights to offer sports and racing betting, both on land and online. This move is part of the Government’s strategy to address challenges posed by offshore betting operators. Tab NZ, which currently generates 90% of the racing industry’s revenue, plays a vital role in New Zealand’s economy, supporting over 13,500 jobs. However, competition from international online platforms has increased financial pressure on the existing model.

Minister Peters emphasized the importance of the amendments, stating:

“This legislation will enhance the long-term sustainability of New Zealand’s racing industry by making Tab NZ New Zealand’s sole provider for sports and race betting both on land and online. Growing competition from offshore online betting operators poses a significant threat to the Tab NZ model. This change brings the model up-to-date with the current sports betting climate and will ensure the financial sustainability of the racing industry, as established in the Coalition Government’s Q4 Action Plan for New Zealand.”

The bill also introduces new oversight measures, granting the Minister the authority to request information from Tab NZ and enforce prohibitions on unauthorized operators. Additionally, updates aimed at strengthening consumer protections and reducing gambling-related harm are included. Expanded regulatory powers and the removal of the Point of Consumption Charge are proposed to lower operational barriers for Tab NZ.

The legislation will now proceed to the Governance and Administration Committee for further review and public consultation through the select committee process.