A deal announced in December last year between the New Zealand Racing Board (NZRB), OpenBet and Paddy Power Betfair (see previous report) has progressed with final approvals for the delivery of a technology solution and supporting data for NZRB’s Fixed Odds Betting (FOB) business.
The investment will complement NZRB’s current fixed odds betting business with a view to meeting increasing customer demand while enabling the organisation to better compete with international wagering organisations.
OpenBet will provide NZRB with access to a first-class FOB engine, used by many of the major wagering organisations across the world, and partner NZRB with an organisation at the forefront of international wagering growth and innovation,” NZRB Chair, Glenda Hughes, said.
“Both partner organisations have strengths in digital, sport and in-play wagering, which are three of the biggest growth opportunities for NZRB.”
In addition to the new FOB platform, NZRB has embarked on a number of other strategic initiatives that include customer and channel improvements, racefields legislation, and a programme to optimise the racing calendar which it expects will deliver a significant lift in annualised Net Profit per year to racing once fully implemented.
NZRB’s formal approval comes after a detailed design phase undertaken with OpenBet and further discussions with Paddy Power Betfair.
“We are focused on working with NZRB to develop a best-in-class technology that delivers a great player experience,” said Matt Davey, chief executive officer of NYX Gaming Group. “We are honoured to be selected from what was a highly competitive tender process and excited for the project ahead of us.”
The new platform is expected to be fully integrated into NZRB for the 18/19 season.