New Zealand Racing Board Signs Agreement with NYX Gaming Group
Leading digital gaming provider, NYX Gaming Group, has signed an agreement with the New Zealand Racing Board (NZRB) to develop a new fixed odds betting platform via their OpenBet technology subsidiary.
The current largely manual fixed odds betting service will be replaced by an automated system in order to offer a more competitive product and meet their customers’ demands. The NZRB, which operates under the TAB, has nearly 680 retail outlets and more than 180,000 active account holders.
“After a rigorous selection process, we are firm in our belief that NYX Gaming Group will provide NZRB with the ability to access a first-class fixed odds betting engine,” announced Glenda Hughes, chairman of NZRB. “We are delighted to be partnering with the leader in digital wagering and look forward to working with the team to design and deliver a bespoke experience for TAB customers that will put us at the front of the market in the face of ever increasing competition.”
This is the first major partnership that NYX has secured in 2017 and it did so after a competitive tender process. This deal is part of NZRB’s strategic plans to improve long-term sustainability of racing and sports in New Zealand by increasing distribution within the industry. NZRB estimated that the new fixed odds betting platform would generate $17-19 million in annualised profit each year.
“Our proven record of accomplishment in delivering a comprehensive range of sportsbook solutions across a diverse range of market and regulatory conditions is simply unrivalled,” stated Matt Davey, chief executive of NYX. “We have the necessary blend of experience and expertise to positively influence the detailed design phase of NZRB’s fixed odds betting platform project. We are honoured to have been selected from what was a highly competitive tender process.”
March 30, 2017