Toronto TSX-listed NYX Gaming has confirmed that it has secured an agreement with the New Zealand Racing Board (NZRB) to deliver a bespoke fixed odds betting platform through its OpenBet technology subsidiary.
Updating the market, OpenBet development teams will work with NZRB with aim of automating and revamping its ‘largely manual fixed odds’ betting services. NZRB stated that a new enhanced platform was needed in order to meet customer demands and to compete with international firms wagering offerings.
NZRB informed the market, that NYX had won its FOB platform contract following a competitive tender. Releasing a ‘statement of intent’ NZRB governance detailed that company projections anticipate the FOB platform would generate at least ‘$17-19 million in annualised profit per year, once implemented’.
Glenda Hughes Chairman of NZRB backed NYX OpenBet as platform partners “After a rigorous selection process, we are firm in our belief that the NYX Gaming Group will provide NZRB with the ability to access a first-class fixed odds betting engine. 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.”
A delighted Matt Davey, NYX CEO was pleased to have secured the firms first major Partnership in 2017, stating;
“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. 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.”
The NZRB, established by the Racing Act 2003, operates the country’s official racing and sports betting agency, the TAB, which has more than 180,000 active account-holders and a retail network consisting of almost 680 outlets.