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Govt to impose royalty on offshore betting

NZ Newswire logoNZ Newswire 23/03/2017

The government intends charging a royalty fee on offshore betting agencies so the TAB can compete with them on a more level playing field.

Racing Minister Nathan Guy says a growing number of New Zealanders are gambling through offshore betting agencies who make no contribution to communities.

"These offshore operators use New Zealand race information for their bets without paying a royalty back to our industry for their use," he said on Thursday.

"Also, by not contributing any profits back to our communities, these operators are able to work at an unfair advantage to the TAB."

Mr Guy says that in 2015 about 40,000 New Zealanders turned over $158 million offshore with $58m in losses.

"This represents potential lost revenue of up to $45m for local racing and sports organisations... these figures are likely to grow," he said.

Mr Guy will bring a bill to parliament "as soon as is practicable" that will introduce a royalty fee for the use of racing products.

The amount will be set by regulation.

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