TAB NZ set for tech overhaul and new sister brand following Entain agreement

Entain Australia CEO Dean Shannon has said the company is a “great business” and will deliver success for TAB NZ following the penning of the 25-year strategic partnership between the pair.

Speaking to the NZ Herald, Shannon lifted the lid on his plans for the New Zealand operator as it enters a new era with Entain’s support.

The partnership will see Entain pledge more than NZ$1bn (£505.8m) to the revitalisation of the horseracing industry in New Zealand as well as commitment to improving the TAB NZ business.

TAB NZ CEO Mike Tod stepped down on 1 June following the New Zealand government’s approval of the deal. He was replaced by TAB NZ general counsel Nick Roberts.

Shannon confirmed that Entain would be retaining the TAB NZ brand but that it would also introduce a second brand to the market to improve channelisation.

Shannon said: “We definitely will see a second brand, to offer choice to the customers to ensure more betting stays on shore and contributes directly back into the racing and sport industries.

“We need to dig a bit deeper and understand why customers are betting offshore so we can ensure we have a local offering which truly meets the needs of customers,” he added.

Elsewhere, Shannon noted that a tech overhaul would be taking place, with a new app and website in place by Q1 2024, with a shift to Entain’s tech stack planned too.

On its support for New Zealand sport, Shannon said that internally the operator was forecasting to be ahead of its minimum guarantee by the end of the third year, with further growth beyond that.

Shannon continued: “I think it is very important for us to work closely with the three codes and together we can build a compelling future. New Zealand has a proud racing heritage but has been under-funded in recent years.

“What we can help do is push the reset button, give the industry some breathing space, while we work together to build engagement with a broader audience. We will be offering racing customers a wide range of products on modern technology as well as competitive pricing and more generosities,” he added.

Looking ahead to the future, Shannon said that TAB NZ was in safe hands with Entain, and pointed to the operator’s success in Australia as a guide for what to expect.

The CEO said: “Entain is a great business, in Australia we have a great track record, often outperforming the market in a very tough competitive landscape.

“We have built the business from its very first bet into the business it is today, we are a business that built our own technology platform, and we continue to innovate in the wagering space – we know what we are doing.

“Our main objective is to focus on industry funding. Once we get that right everything else will flow from there,” he concluded.