Mark Stewart, the head of Tab NZ, New Zealand’s sole gambling license holder, will depart next week. Anna Stott has been selected as the interim chair.
Stewart, who has served as chairman for two years, has overseen a significant transformation at Tab NZ. He played a crucial role in securing a new strategic alliance with Entain, which was revealed in March. This 25-year agreement will see Entain assist Tab NZ in providing wagering and broadcasting services in New Zealand.
Stewart stated, “It has been an honor to serve on the Tab NZ board for the past two years. Most importantly, we have achieved sustainable long-term outcomes for our investors through our partnership with Entain. I am confident that the remaining board and management team will continue to build upon the Entain partnership and bring advantages to our nation.”
Tab NZ CEO Nick Roberts expressed gratitude to Stewart for his service. He said, “We have been fortunate to benefit from Mark’s exceptional experience and unique abilities.”
Stewart will depart at the end of August. Stott, the current temporary chair, will assume the position until a permanent successor is identified.
The leadership of Tab NZ has had a profound impact on the lives of countless New Zealanders, ranging from athletes to those who depend on the domestic horse racing sector.
Stoff has been named as the interim head, a decision that has been endorsed by New Zealand’s Racing Minister, Kieran McAnulty. McAnulty has given his consent for Stoff to assume the temporary position.
Stoff has held this position since August 2021 when she became the deputy head, following Stuart’s appointment. She also served as a board member of the racing industry transformation organization.
“I am thrilled to accept this role, and we will be particularly focused on collaborating with the government to modernize the gambling landscape in New Zealand,” Stoff stated.
Tab NZ has also announced another personnel shift on its board. Jason Fleming has stepped down and taken on a new position as Tab NZ’s commercial general manager.
Bill Bernie, Wendy Harvey, and Rewan Lovett remain on the board alongside Stoff.
Tab NZ-Entain Agreement Funding Increase
This announcement follows the successful launch of the Entain partnership, which commenced on June 1st.
Tab NZ stated that in its initial months, the partnership has led to increased funding for New Zealand’s three primary racing codes, the New Zealand Sports Bureau, and 37 national sporting organizations that have signed sports betting agreements with Tab NZ.
Tab NZ mentioned earlier this year when it announced the agreement that the company had joined the partnership due to heightened competition, escalating costs, funding limitations, and other obstacles.
This demonstrates that the agreement has negatively impacted their capacity to fund racing and sporting events.
Entain provided an update on the agreement shortly after its commencement. They stated they would provide Tab NZ with a minimum of NZ$150 million annually for the initial five-year period.
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