TAB Racing Club to shut down after just one year over unsustainable model

The TAB Racing Club will close, with operator Entain Australia and New Zealand citing unsustainable costs.

Launched last year, the club let members experience racehorse ownership without the high expense, attracting around 18,000 New Zealand customers, the New Zealand Herald reported.

Over the past year, members have enjoyed several highlights. The club celebrated its first win at Ascot Park last November when Bella Ragazza triumphed for trainer Robert Dennis. In Haste, trained by Mark Walker and Sam Bergerson, emerged as a standout, winning two of her four starts and finishing runner-up in the Group 3 Gold Trail Stakes (1200m) at Ellerslie last month.

The club’s most recent victory came this past weekend, when Transcend secured her second consecutive win for trainers Shaune Ritchie and Colm Murray at Te Rapa, giving members a full race-day ownership experience.

Despite its popularity, the TAB Racing Club required an annual investment of $2.5 million to operate, leading Entain to conclude that the business model was no longer sustainable.

“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."

The TAB Racing Club currently owns 28 thoroughbred and standardbred horses. Entain has begun an independent appraisal process to sell the horses, with animal welfare being a key priority.

Entain confirmed that all existing Racing Club experiences will be honoured through the end of New Zealand Cup Week in Christchurch this November.