Entain sets 50% New Zealand iGaming target
Table of contents
- Entain plans to bid for three of 15 available online casino licences in New Zealand’s forthcoming regulated market.
- CEO Stella David said the company expects to capture up to half of a market estimated at £600m (approximately NZ$1.3bn), leveraging its TAB sports betting monopoly for cross-selling.
- The licensing process is scheduled to begin in July 2026, with the regulated market expected to launch in 2027.
Entain has set its sights on dominating New Zealand’s emerging online casino sector, with CEO Stella David and CFO Rob Wood outlining plans to bid for three iGaming licences and capture up to half of the country’s estimated £600m market when the application process opens later in 2026.
The pair spoke during the company’s full-year 2025 results call on 5 March 2026, where David confirmed New Zealand had not yet been built into Entain’s financial forecasts for 2026 or 2027.
TAB advantage
David noted that Entain, through its exclusive TAB partnership in New Zealand, is the only online operator positioned to cross-sell between sports betting and iGaming products. That capability is seen as a key competitive differentiator in a market where the operator already holds the monopoly on retail and online sports and racing betting.
Entain’s New Zealand business recorded a 28% year-on-year performance increase in 2025, underscoring the strength of its existing foothold ahead of the casino licensing round.
Andrew Vouris, CEO of Entain Australia and New Zealand, said the company’s existing operations in the region give it a competitive edge as the only operator capable of offering sports, racing, and casino services under one roof.
Previously, there had been uncertainty among industry stakeholders about whether TAB would be permitted to apply for an iGaming licence given its monopoly status. Both David and Wood appeared highly bullish on the opportunity when pressed by analysts during the results call.
Licensing framework
New Zealand’s licensing process is scheduled to begin in July 2026, with the Department of Internal Affairs overseeing the rollout. The agency said the framework is intended to create a safer environment for consumers.
Up to 15 licences will be made available for the initial regulatory period, awarded through a competitive auction. Each licence will be valid for three years, with one renewal option of up to five years. An operator may hold no more than three of the 15 licences in total.
The Governance and Administration Committee recommended by majority that the Online Casino Gambling Bill be passed, establishing the licensing regime for online casino gambling in New Zealand. The bill’s passage followed select committee hearings in late 2025.
Licensed operators will be permitted to advertise, subject to strict guidelines, and must display a mandatory registration icon across their platforms. Body corporates operating or advertising without a licence face civil pecuniary penalties of up to NZ$5m under the bill’s enforcement framework.
Group performance
Entain’s FY25 results confirmed group net gaming revenue rose 8% to £5.3bn. The company is forecasting online NGR growth of 5% to 7% on a constant currency basis in 2026.
The company also announced a £50m savings plan to offset incoming hikes to the UK’s Remote Gaming and Remote Betting duties, doubling an earlier £25m target. Entain expects to deliver £500m in annual adjusted cash flow from 2028.
If Entain secures its full allocation of three licences, it would become the only operator in New Zealand offering sports, racing, and online casino under one umbrella. The depth of its existing customer base through TAB gives it a structural head start that offshore competitors would find difficult to replicate. How regulators weigh TAB’s monopoly status during the auction process will be a key factor to watch as the July licensing window approaches.
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