New Zealand Thoroughbred Racing (NZTR) has welcomed the passing of the Racing Industry Amendment Bill, describing it as a landmark moment that strengthens the sustainability of racing while embedding a more responsible and modern framework for wagering in New Zealand.
The Bill, passed in Parliament on Wednesday, introduces a legislative net that is set to secure funding levels for the racing and sports sectors, while enhancing consumer protections and reinforcing harm minimisation measures across betting platforms, when it comes into force.
NZTR CEO Matt Ballesty says the passing of the Bill is a pivotal and positive step forward for the racing codes and the broader sports communities.
“This legislation reflects a clear recognition by Government of the social and economic contribution of the racing industry, while modernising the regulatory framework which was no longer fit for purpose since its original design in 2003,” Ballesty said.
“For Thoroughbred racing, it provides a degree of certainty that is essential for long-term investment and planning, not just for NZTR, but for our racing Clubs and administrators, trainers and jockeys, as well as owners and breeders right across the country.”
Alongside its funding provisions, the legislation includes a strengthened focus on responsible gambling, with updates to governance and enforcement measures to ensure punter protections remain front and centre.
“We are especially pleased to see the emphasis placed on harm minimisation,” Ballesty added.
“A thriving racing industry must be built on integrity and a strong social licence. The updated protections outlined in the Bill reinforce that foundation and we are committed to playing our part.”
NZTR will continue to work closely with TAB NZ and Entain Australia and New Zealand to ensure the racing industry maximises the benefits of this legislation while supporting initiatives that protect and educate punters.
“We’d like to acknowledge the work of the Minister for Racing, Rt Hon Winston Peters, the Department of Internal Affairs, and our partners at TAB NZ and Entain, whose commitment to the future of New Zealand racing helped bring this legislation to life,” Ballesty said.
“This is a great outcome for racing participants, punters and the wider sporting communities.”