New Zealand Gambling Revenues IncreasePublished March 4, 2016 by Mike P
New Zealand’s appetite for gambling is increasing, according to recent figures. Kiwis are particularly fond of sports betting and casino gaming.
New Zealand’s government has released financial figures that show an increase in gambling revenues for all almost every sector of the industry. The Department of Internal Affairs (DIA) revealed an overall increase of 1.2% to $2.09 billion for the 2014/15 fiscal year. For that year, lottery was the only sector that did not increase in revenue.
Looking back over the past six years, the DIA showed that the gambling industry typically generates in the region of $2 billion a year. And this makes the rise in revenue all the more significant when it is revealed that lottery revenue fell dramatically by 10% when it slumped to $894 million.
Success for NZ Racing Board
One of the key success stories was for the New Zealand Racing Board (NZRB), which has previously spoken of concern that global remote gaming operators might eat into the industry’s profitability.
Nevertheless, the NZRB managed to generate $325 million in 2014/15, representing a significant 5% increase. This was the fourth-straight year in which the NZRB managed to increase its share of New Zealand gambling revenue.
A catalyst in this success has been the NZRB’s commitment to improving online accessibility. In making that happen, the NZRB released an app entitled TAB, which allows for customers to engage in sports betting by using their smartphone or tablet.
Casino Performance Improves
New Zealand casinos also managed to deliver growth in 2014/15, which was a positive, as the sector had declined in the previous fiscal year. This time, however, they managed to increase revenue by 8.5% to hit $486 million.
In the current fiscal year, casino revenue could be boosted by increased activity in the online gaming sector. New Zealanders have already shown a proven desire for sports betting apps, and that could transition to casino sites. Current operators in the sector include names like 10bet, Jackpot City, and Platinum Play to name a few.