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Entain ANZ ends the TAB Racing Club program after a year of operations
Due to the expense limitations, Entain Australia and New Zealand has confirmed that the TAB Racing Club would close down, bringing the public racehorse ownership program to an end within a year since it was commenced.
A year after the project started, Entain Australia and New Zealand (Entain ANZ) revealed that it would close down the TAB Racing Club. More than 18,000 people participated in the scheme, giving the general public an opportunity to partially own racehorses. Entain, however, discovered that the running costs of the club were outside of its long-term financial sustainability.
With a 25-year exclusive agreement, UK gambling group Entain, behind brands including Ladbrokes, Coral, and PartyCasino, operates the New Zealand state-owned TAB. Brought in 2023, the TAB Racing Club was patterned after highly successful Australia’s Ladbrokes Racing Club and was designed to grow racing interest via race-day membership, inexpensive ownership experiences, and immediate trainer updates.
At a NZ$2.5 million (US$1.46 million) annual operating cost, the company blamed financial constraints as the prime cause of closure.
Chief Executive Andrew Vouris, said:
“We are focused on our core business of responsibly selling bets and creating innovative products, while ensuring the horses are well cared for with their new owners, and our customers enjoy the experiences they’ve already secured. This decision is about discipline, focus, and doing what’s right for the long term—winning, but not at all costs.”
Entain will mark the New Zealand Cup Week in November by celebrating existing members’ experience and offer of auctioning its 28 racehorses under neutral observation to guarantee moral rehoming. The action shows the racing industry more focused on animal welfare and profitability.
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