New Zealand Racing Board Turnover Up 9%

Media release
04 February 2005

FOR IMMEDIATE RELEASE

New Zealand Racing Board Turnover Up 9%

A cold, wet summer, hasn’t dampened the enthusiasm and interest in having a flutter. The TAB reports the total betting turnover over the holiday period from December 20 to January 9 was up nine percent on the corresponding period for the previous year.

Chief executive Graeme Hansen says while on-course betting was affected by the unseasonal weather, off-course turnover has exceeded expectations as customers have tuned into the TAB racing channel Trackside to view the holiday racing.

“Off course betting has driven our business over this period and tops off a solid growth in revenue for the past six to seven months,” Mr Hansen says.

Our clients are also becoming more sophisticated in the ways in which they place their bets.

“Our Internet betting is attracting a growing number of our customers who appreciate the fact they can easily place a bet, top up their funds and obtain up-to-date race form and commentary simply using their mouse,” Mr Hansen says.

New Zealand racing customers are coming to recognise the fun they can have, applying their skills and intuition to what we call ‘exotic’ bets. These bet types have a high return for a relatively small outlay.

“Many people do not know that you can couple up, for example, 5 runners in a trifecta for $10” Mr Hansen says.

He bets the New Zealand Racing Board is looking forward to great year for all investors.

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