Entain Australia & New Zealand today announced it will divest the TAB Racing Club in New Zealand, an experience-based program launched last year.

While the Club has been popular with around 18,000 New Zealand customers, the business case no longer stacks up, requiring around $2.5 million annually to operate.

Entain will honour all existing Racing Club experiences through to the end of New Zealand Cup Week in Christchurch in November.

The company has commenced a process to sell the Club’s horses. The process involves independent appraisal, and animal welfare will be a key priority as part of this process.

Entain ANZ remains committed to delivering strong returns to the New Zealand racing industry through its 25-year partnership with TAB New Zealand.

Andrew Vouris, CEO of Entain ANZ, said:

“This is a disciplined, responsible decision that allows us to get back to basics – selling bets and delivering strong returns to the New Zealand racing industry.

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.”