This is edition 2026/058 of the Ten@10 newsletter.
Hi all,
This is the Ten@10, where I collate and summarise ten news items you generally won't see in the mainstream media.
Enjoy!
1. Who really controls NZ’s gambling industry?
Bryce Edwards
- 🐕 A bill to ban greyhound racing is nearing final approval in Parliament, likely to pass with broad support after resolving remaining details.
- 🎰 The debate has exposed deeper concerns about New Zealand’s gambling and racing sector, particularly around power, money, and political influence.
- 💰 In 2023, global gambling giant Entain secured a 25-year monopoly over TAB NZ betting operations in exchange for a promised $1 billion investment.
- 🏛️ The deal, approved under Minister Kieran McAnulty, also included an extra $100 million incentive tied to banning offshore competitors—legislation passed in 2025.
- 🌐 Entain is now seeking online casino licences, which could give it dominance across sports betting, racing, and casinos in New Zealand.
- ⚠️ This raises concerns about a single foreign corporation gaining overwhelming control of the country’s gambling market.
- 📉 A racing industry report reveals “reinforcing loops of decay,” with a structural deficit exceeding $50 million annually and reserves at risk of depletion.
- 🔄 Despite significant funding and monopoly protections, the industry is seeking further support, including tax breaks and government subsidies.
- 📊 Financial losses at TAB NZ continue, with tens of millions lost in both 2024 and 2025.
- 🎯 Critics question who truly benefits, as the industry appears reliant on ongoing public and regulatory support.
- 📚 Academic analysis shows racing enjoys unique legal privileges, including keeping its own gambling proceeds unlike other sectors.
- 📉 In 2024, 98% of betting profits went to racing, while only 2% reached community sports groups.
- 🧾 Tax advantages, including the removal of betting duties, have further benefited the industry at the cost of government revenue.
- 🚨 Concerns are heightened by Entain’s regulatory issues, including alleged anti-money laundering breaches involving large sums linked to suspicious individuals.
- ⚖️ Past fines and ongoing investigations into Entain raise serious integrity questions as it seeks further expansion in New Zealand.
- 🔒 The full details of the Entain-TAB deal remain secret, despite repeated Official Information Act requests, limiting public scrutiny.
- 🐎 Long-standing political ties between the racing industry and Winston Peters are highlighted, raising questions about conflicts of interest and influence.
