New Zealand’s Racing Industry Transformation Agency (RITA) is completing its transformation this weekend to become TAB New Zealand (TAB NZ), in line with the country’s new 2020 Racing Industry Act.
It marks the end of a transitional period of 13 months, with TAB NZ focusing solely on its customers, maximising profits for the racing industry and returns for sports. TAB NZ will also concentrate more on tackling problem and underage gambling
In an open letter, RITA executive chairman Dean McKenzie said: “As we transition to TAB New Zealand we do so knowing that, despite the enormous challenges presented by COVID, RITA has delivered on the Racing Minister’s expectations which were set out last year. The Board is grateful for his ongoing commitment and support, as well as from those across Government and Parliament who have supported the charge to reform the industry over the past two years.
“The industry has also responded well to the challenges posed by COVID, resuming with competitive racing, strong fields and providing great content for our customers to bet on. All participants should be congratulated for their effort and commitment.
“While it’s early days yet and there’s still considerable, ongoing uncertainty overseas, we can look forward to a newly reformed industry next week, cautiously optimistic of the year ahead.”
Changes to TAB NZ will take effect from 1 September, with four general managers covering Customer and Betting, Broadcasting and Operations, Corporate and Governance Services, and Finance.
The letter goes on to add: “As you know, the current Board continues until after the election when the Minister for Racing in the new Government will determine how they wish to proceed with appointing a new Chair and Board. Naturally, this will need to be progressed before finalising the appointment of a CE.
“We remain hopeful we will have the right person on board by the end of the year, as we have indicated internally, but this will also be potentially subject to other variables, such as the status of travel into the country. We’ll update everyone when we know more.”