Entain’s foray into the New Zealand market through its landmark New Zealand TAB deal is beginning to bear fruit, with the global company revealing revenue is already exceeding what it earns out of Germany.
Germany may have 16 times the population of New Zealand, but it is a heavily regulated market and having contributed up to 15 per cent of Entain’s global revenue through several gaming and betting brands a few years ago, has now slumped to just 3 per cent of its business.
While the migration of Entain’s New Zealand business onto the Australian platform is yet to be completed, chief financial officer Rob Wood revealed during this week’s global earnings update that the New Zealand market is already seeing significant growth.
“I mentioned that we are close to migrating the TAB New Zealand business onto our Australia platform and we do expect to see strong growth in New Zealand off the back of that,” Wood said.
“Remarkably, New Zealand revenue is already larger than Germany for context. So it's a market that we're excited by. So that will accelerate.”
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