If passed, the bill would make TAB New Zealand the sole provider of sports and race betting across both physical and online channels.
The proposed legislation aims to keep an estimated $180m a year from flowing to offshore operators and redirect it into the local economy.
“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,” Peters said.
“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,” Peters added.
Enhanced oversight and consumer protections
The bill also includes provisions to enhance oversight and promote consumer safety.
It grants the minister the authority to request information from TAB and implements regulatory measures to enforce the prohibition of offshore betting operations targeting New Zealanders.
Further, the legislation includes consumer protection measures intended to foster a safer gambling environment and mitigate risks related to gambling addiction.The removal of the Point of Consumption Charge is also proposed to streamline TAB’s financial model.
TAB New Zealand chief executive Nick Roberts highlighted the potential positive impact on both the industry and local communities.
“This is a positive outcome which will have national impact,” Roberts stated.
He emphasised that retaining $180m annually would maximise funding for local communities and ensure that New Zealanders bet in a safe and regulated environment.
Roberts also highlighted that the changes could deliver an additional $1bn to stakeholders during the remaining term of TAB’s 25-year strategic partnership with Entain.
This partnership, established in June 2023, aims to enhance the operational efficiency and reach of TAB New Zealand.
The proposed legislation has been referred to the Governance and Administration Committee for further review and public consultation through the select committee process.
Earlier this year, the New Zealand government outlined plans for an online casino licensing framework, specifying that licensed operators could only offer online casino games—not sports betting or lottery products.
In November, the government announced that it intends to limit the number of online casino operator licences to 15.
