As New Zealand is looking like it could expand its online casino market, all eyes are on current firms that have a stronghold in the market like Entain.
The company spoke with SBC News to say it ‘generally’ supports the expansion which could see plans to issue 15 three-year licenses come in as soon as early 2026.
The spokesperson said, “Speaking generally, we support the regulation of online gambling in New Zealand and the associated benefits. As the licensing regime is still being developed at a policy level, we can’t comment further at this stage”.
Although it’s still early doors, the potential plans would bring in more competition as several licences could be approved via government auctions.
Entain, which is a UK company, won the operating tender of the TAB NZ wagering contract in 2023. Formerly known as the ‘New Zealand Racing Board, TAB NZ refers to the current statutory monopoly for New Zealand sports betting, including horse racing and greyhound racing.
The international sports betting and gambling company Entain secured a 23-year licence to operate TAB NZ on the condition of providing funding of NZ$1.0bn (roughly $569,650,000.00 in USD) over a period of five years.
Radio New Zealand is reported to have obtained documents that show ‘local operators fear the large offshore firms will eat up their market share.’
The Internal Affairs minister, Brooke van Velden, told the publisher she expected large, offshore gambling companies to win the majority of the 15 licenses that could be auctioned off.
“We don’t have a huge online gambling market, so I would expect that it’s mainly offshore providers.”
She also stated this could change over time as the licences aren’t forever.
It’s believed the licences will be issued for three years at a time, with this being the first regulation of online gambling in the country.
Currently, citizens are able to gamble on foreign sites, but it is illegal to run an online casino operation from New Zealand.
Featured Image: Credit to ‘elpinto007’ on Wikimedia Commons
