As Entain’s online net gaming revenue grew 18 per cent in New Zealand over the past 12 months, it also fell 7 per cent in Australia. Managing those contrasting situations presents an interesting challenge for interim Entain Australia and New Zealand chief executive Andrew Vouris, writes Bren O’Brien of The Straight
At the peak of the pandemic-driven wagering boom five years ago, Entain confirmed that net gaming revenue (NGR) from its Australian business had grown 43 per cent year-over-year across the first six months of 2020.
Retail closures had created a once-in-a-generation opportunity for market growth and the continuation of horse racing despite lockdowns had Ladbrokes and Neds front and centre of that growth. Entain felt it was well positioned to capitalise on that sudden surge of customer engagement.
In mid-2022, Entain, then embarking on a bold expansion of its business in the United States and other international markets, confirmed in its six-monthly update that 14 per cent of its online net gaming revenue was being sourced out of Australia.
Since then, as the Australian wagering bubble burst, the Australian share of overall net gaming revenue has been on the decline. By mid-2023, it was 11 per cent, then 10 per cent in mid-2024. In the mid-2025 report published this week, Australia’s NGR share across Entain’s online business had dropped to 8 per cent of its global business.
Revenue by destination reported showed that for the six months up until June 30, revenue across Australia and New Zealand had fallen to £257.1 million ($A530 million), down £24.1 million ($A50 million) compared to the same period last year.
The other detail to come out of the half-yearly report was that Australian NGR had fallen 7 per cent year-on-year, while New Zealand’s has increased 12 per cent. The Australian market was described by chief financial officer Rob Wood as continuing to be soft and “impacted by less favourable horse racing results”.
That’s a familiar line, with the profitability of racing punters becoming more and more marginal for the major bookmakers. It should be a concern for any Australian racing administrator, especially given how much Ladbrokes and Neds have invested in racing through sponsorship and other initiatives over the past five years.
The sentiment around New Zealand was understandably more positive. Online NGR grew by 18 per cent, while retail sales have shrunk by 8 per cent. That change in market dynamics is a measure of a maturing New Zealand wagering landscape, one which Entain now has a virtual monopoly on through its TAB and Betcha brands.
New Zealand now represents 3 per cent of Entain’s global online NGR, just under 40 per cent of what a much more mature Australian business contributed.
“Whilst the legislative net arrived later than expected, it is now effective and should therefore catalyse even greater growth in H2,” Wood said.
There is the one-off impact of a $NZ100 million payment as part of the agreement to provide the legislative net, but that is seen as a short-term pain for significant long-term gain in a contract set to run until 2048.
=======================================
Guest Commentator – Des Coppins
Greetings John and Fortuna followers
Well done with Marlborough Bay on Saturday at Te Rapa. It’s obvious the schooling and hurdles trials have really put his mind on the job and it would be no surprise to see him take the next step up into tougher company on the flat before any jumps career is locked and loaded.
HAS JUMPING TURNED THE CORNER
The strong racing focus in the last few weeks has been mostly about the jumpers and the rejuvenation has almost worked the oracle. The traditional top jumping stables of the Nelsons, Myers and Oulighans have been challenged at times by others trying to get into the mix and the influx of international jumps jockeys from the UK have added to so many wonderful spectacles this winter.
I don’t think we have gone the full circle however, and there’s no way we can say that the jumping season this year is a mirror of the good numbers we enjoyed , say thirty or forty years ago. In saying that we can be proud of what’s been happening behind the scenes from the good work of jumping stakeholders and the ultimate delivery on the track.
Progress is definitely being made and the loyal jumping backers are heading in the right direction. Admittedly the fields were small in both Grand Nationals last Saturday but to see 4 horses rise and land almost in unison at the last fence was as thrilling as any Grand National Hurdles we’ve On the other hand the Grand National Steeples didn’t really go to script and yet still turned out to be a thriller. Most of us were predicting a tooth and nail battle between the new kid on the block in Jesko and the grand master, West Coast but no one told that to Dan O’Leary, Hamish McNeil and Captain’s Run. However, after two previous placings in both the Grand National and the Great Northern Captain’s Run proved more efficient on the very testing track and outmuscled Jesko in the run to the judge.
Both National winners were ridden by jockeys who made their mark initially in the UK.
Hamish McNeil is now in his 11th season here and it was the Scotsman’s second Grand National Hurdles after Ready Eddie in 2017 with the the old boy, Suleiman, while last season’s champion jumps jockey Joshua Parker denied Shaun Fannin on Jesko from winning his 4th consecutive National Steeples. Parker, who gained experience in England riding mainly at point to points, arrived here two years ago in May and has made every post a winner. His was a cool, calm and collected ride on Captain’s Run and we’d be foolish not to think that the Grand National- Great (Northern ) New Zealand double is within the grasp on Sunday, September 21 at Te Aroha.
SHOULD RICCARTON RETAIN THE NATIONALS?
This question has been doing the rounds for the last 3 or 4 years ever since jumping in the South was scrapped outside the Riccarton winter carnival.
Of course it should be retained at Riccarton and if jumps racing is to be supported by the industry, whether it’s immediate or long term, Riccarton should most certaintly be allowed to bring us both jumping spectacles as it did overwhelmingly last weekend!
However, the South Island needs another lifeline to help it’s cause to revitalisation.
Simply put it not only needs more jumps races at venues like Riverton, Wingatui and Timaru but also enticements for more jumps jockeys or jumps exercise riders to base themselves in the south for the purpose of educating the jumping newcomers.
You may or may not agree but I rather see a $150,000 or even a $100,000 Grand National Steeples and a pull back in monies from the rich $200,000 event from Saturday set aside to assist in helping southern trainers in recruiting personnel to help with such potential jumpers.
The southern catchment area deserves full support and we will then see not only North Island horses on show for the Nationals but the southern input as well with hopefully the return of North v South rivalry that was evident all those years ago!
I’m sure it can be revived but it may take a bit more effort from the governing bodies to make it happen.
DAN’S COMMENTS MADE COMPLETE SENSE
DAN O’LEARY made a very good point while accepting the plaudits in the emotional win of Captain’s Run.
“To win such an historic race celebrating 150 years is very special as there aren’t many sporting milestone that have been around for as long,” he said, or words to that effect.
And he’s spot on!
Racing trophies in NZ have been around a lot longer than any other sporting prize.
Here’s proof from some of NZ’s premier sports and when they started giving out trophies.
BOXING : 1927: John Jamieson Belt
BOWLS: 1914: NZ Championship Shield
CRICKET : 1906: Plunket Shield
GOLF: 1907: NZ Open
HOCKEY: 1907 : NZ Challenge Shield
MOTOR RACING: 1947: Lady Wigram Trophy
POLO: 1890 : Savile Cup
RUGBY : 1930: Bledisloe Cup
SOCCER: 1923: Chatham Cup
SWIMMING : 1912 : Yaldhurst Shield
TENNIS : 1927: Anthony Wilding Trophy
And on the global stage the 150 years of the Grand National matches quite favourably in the era of other great traditional trophies like the Stanley Cup in Hockey (1892); The Ashes Urn (1892); Wimbledon Trophies ( 1877).
For the record the America’s Cup pips most of our racing trophy beginnings, including the Grand National, with it first awarded in 1851.
But for the record we have a trophy in racing that trumps the America’s Cup beginnings, the Wanganui Cup!
It was first presented in 1849 and Wanganui is the oldest racing club in NZ.
The oldest sporting trophy ever awarded worldwide is the Carlisle Bells ( 1599) and yes, it’s a thoroughbred trophy and it’s still around with it being held in June each year in its original form at the Carlisle Racetrack, Cumbria, England.
Three unlucky runners at Riccarton:
DAVID MOSS: This horse should have finished closer in the last and I’m sure if the jockey could have the race all over again he just may have played a different tactical hand.
ROYAL VALOUR: Missing the start clearly cost this galloper a top 3 placing in the open 1800.
VICTORIAN CHARM: while it was beaten by stablemate Lord Darci had it not bounded in the air at the start and had the rider not dropped the whip inside the last 300m it may well have gone close to the win.
Good punting!
Des Coppins
021 448 052
==========================================================
