Allens guides TAB NZ through NZ$1.1bn Entain deal

The watershed transaction represents major progress for the racing and sports industries in NZ

Allens guides TAB NZ through NZ$1.1bn Entain deal
Phil O'Sullivan, Jeremy Low

Allens has confirmed its role as legal advisor to TAB NZ on a watershed 25-year strategic partnering arrangement with global sports-betting and gaming company Entain.

The deal is valued at NZ$1.1bn, and represents “a significant step forward for the funding and long-term viability of New Zealand's racing and sports industries”, Allens said.

“By partnering with a key player in the international betting and gaming market, TAB NZ will be able to offer global best practice in both customer experience and responsible gambling and harm minimisation”, co-lead partner Phil O'Sullivan explained.

Under the arrangement, Entain will absorb most of TAB NZ’s operations. Throughout the initial five-year-period of the partnership, TAB NZ will receive over NZ$1bn in funding.

According to Allens co-lead partner Jeremy Low, the arrangement reflects TAB NZ’s commitment to securing its future and that of the industries it serves. The firm’s team also worked together with Barrenjoey on the transaction.

Allens pulled together a strong team of lawyers from its TMT and corporate practices. Supporting O’Sullivan and Low were the following:

TMT

William Coote - managing associate

Alexandra Martin - senior overseas practitioner

Maddison Ryan - associate

Jake Boudsocq - associate

Tayla Price - lawyer

Corporate

James Nguyen - managing associate

Charlie George - associate

Terence Zhou - associate

Ben Fong - lawyer

Chiara Biviano - lawyer

TAB NZ is the only entity in New Zealand with the authority to hold racing and sports betting activities in the country. It serves as New Zealand’s statutory body on racing and sports betting, broadcasting and gaming.

Recent articles & video

W+K adopts gen-AI tool designed for Australian legal market

HSF, Maddocks confirm roles in $2.3bn PSC Insurance acquisition

Hunt & Hunt announces support for St Kilda Film Festival

G+T helps banks secure ACCC authorisation for mortgage aggregator assurance program

Data Zoo taps KWM for support on Ellerston Capital investment

Allens assists QIC on minerals fund's initial investments

Most Read Articles

High Court affirms right to reliance damages in landmark breach of contract case

KKR snaps up Perpetual businesses in $2bn deal with G+T's help

Clifford Chance recruits partners from Shearman & Sterling, White & Case as it expands US presence

ASX lister raises $121m with Lander & Rogers' help