The New Zealand Racing Board (NZRB) has said that it remains on track to meet its end of year targets despite generating lower than expected turnover in May.

The NZRB, responsible for all racing and sports betting in New Zealand, said that it faced challenges due to the lack of race fields legislation, which has still not been approved by Parliament and has impacted its expected level of revenue.

Turnover in May came in below forecast and lower than last year, driven by fewer equine races both domestically and overseas, and strong margin results adversely impacting betting churn, particularly high value customers.

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