NZRB Signs Key Trans-Tasman Agreements with Tabcorp
Key agreements connecting New Zealand and Australian racing have been signed by the New Zealand Racing Board (NZRB) and Australia’s Tabcorp.
The agreements, which relate to race broadcasting, wagering, international marketing and the commingling of racing, reconfirm the close relationship between the racing organisations and wider industries in both countries.
“These new agreements mark the beginning of a new phase in the ongoing partnership between our organisations and NZRB looks forward to continuing to work with Tabcorp to promote and advance our world-class Australasian racing,” says NZRB CEO, John Allen.
“New Zealand and Australia have some of the best racing in the world, and these agreements are a key way of ensuring people in both countries have access to see and bet on our quality racing product.
“New Zealand racing will be broadcast in Australia on Tabcorp’s Sky Racing TV network, and through the international marketing agreement, we are also able to showcase New Zealand racing to an even bigger, world-wide audience, utilising Tabcorp’s extensive international network.
“One of the components of the agreements most popular with our TAB punters is the continuation of commingling of New Zealand and Australian pools. Commingling enables Kiwis to enjoy bigger dividends through larger pools,” says Mr Allen.
“These agreements provide a progression from earlier agreements which expired in June 2015, reflecting the changing landscape both NZRB and Tabcorp are operating in, such as the rapid growth of social media and online streaming.
“For example, back when the last agreements were set up, Facebook was barely established - now it’s the preeminent social media platform so we needed to look at how developments like this were reflected in the new agreements,” says Mr Allen.
Tabcorp chief operating officer of wagering and media Craig Nugent says; “Tabcorp and the NZRB have been working closely together for some years and these new agreements provide the stepping stone for both organisations to find new synergies that will benefit both.
“Our International Team is doing a great job showcasing Australian racing to the world and we are proud to be able to bring New Zealand racing to a bigger global audience through our global communications network,” says Mr Nugent.
The agreements confirm terms set out in short form term sheets signed in late October 2016, and will be in place through to 31 October 2019.