TAB Racing Club to close as Entain focuses on core betting business

Transcend is a very promising horse owned by the TAB Racing Club but will be sold. Photo / Kenton Wright

The TAB Racing Club is set to wind down, with the business case for the experience-based programme no longer stacking up for operator Entain Australia and New Zealand.

Modelled off sister company Ladbrokes’ popular Racing Club, the TAB Racing Club was launched last year, giving members the chance to experience the thrill of racehorse ownership without the cost.

It has been well-patronised, with about 18,000 New Zealand TAB customers joining the club. They have experienced several highlights over the past year, starting with their first win at Ascot Park last November when Bella Ragazza scored for trainer Robert Dennis.

The Mark-Walker-and-Sam Bergerson-trained In Haste has been a standout for the club, carrying their silks to victory in two of her four starts and finishing runner-up in the Group 3 Gold Trail Stakes (1200m) at Ellerslie last month.

The TAB Racing Club’s latest victory came this past weekend when Transcend posted her second consecutive win for trainers Shaune Ritchie and Colm Murray at Te Rapa, much to the delight of several club members, who got to experience the full race-day ownership experience.

While the club has been a hit, it requires a $2.5 million annual investment to operate and Entain has decided that business model is no longer viable.

“This is a disciplined, responsible decision that allows us to get back to basics – selling bets and delivering strong returns to the New Zealand racing industry,” Entain Australia and New Zealand chief executive Andrew Vouris said.

“We are focused on our core business of responsibly selling bets and creating innovative products, while ensuring the horses are well cared for with their new owners, and our customers enjoy the experiences they’ve already secured,” Vouris said.

“This decision is about discipline, focus and doing what’s right for the long term – winning, but not at all costs.”

The TAB Racing Club currently has 28 thoroughbred and standardbred horses in its ownership and Entain has commenced a process to sell the club’s horses, which involves independent appraisal. It said animal welfare will be a key priority as part of this process.

Entain said it will honour all existing Racing Club experiences through to the end of New Zealand Cup Week in Christchurch in November.

– LOVERACING.NZ News Desk