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New Zealand repeals betting levy to boost racing industry

22nd May 2019 6:44 am GMT

The New Zealand government has confirmed that it will repeal the betting levy currently paid by the New Zealand Racing Board (NZRB) as it looks to revitalize the country’s horse racing industry.

Racing Minister Winston Peters confirmed in a pre-Budget announcement that payment of the levy to the government will be phased out over a three-year period, with freed-up funds to be redirected to racing and sports.

Last year the betting levy on racing totalizator paid by [...]

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