The New Zealand Racing Board's application for a Class 4 gaming operator's licence has today been approved by the Department of Internal Affairs. All existing gaming machines at the approximately 30 TAB venues will progressively be covered by this licence. The NZ Racing Board will eventually be the licence-holder and venue operator at all TAB agencies and branches that offer gaming.
New Zealand Racing Board interim chief executive Bill Colgan said the Class 4 gaming operator’s licence would enable the NZ Racing Board to have greater control and oversight of gaming undertaken on TAB premises.
“This is in keeping with our legal obligation under the Racing Act 2003 to maximise returns for the long-term good of New Zealand racing,” Mr Colgan said.
“This licence will significantly enhance clarity around the process for the distribution of grants for authorised purposes.”
By law the NZ Racing Board is legally entitled to distribute 100 per cent of the net proceeds from its gaming machines to authorised racing purposes.
However, the NZ Racing Board also wishes to provide crucial support to amateur sport in New Zealand. Therefore, up to 20 per cent of the net proceeds from NZ Racing Board gaming machines will be distributed to communities through grants to sport.
“There is no question that we will be supporting the New Zealand racing industry through the distribution of net proceeds from these machines.
“However, we also understand the vital role that sport plays in our communities and it is our view that amateur sports should also benefit from proceeds from our gaming machines,” Mr Colgan said.
The NZ Racing Board’s Class 4 operator’s licence will eventually apply to the approximately 300 existing gaming machines currently situated in TAB agencies and branches nationwide.
“This will not increase the ‘gaming footprint’ but will provide an effective way to allow the NZ Racing Board to direct funding for authorised purposes,” Mr Colgan said.