Australian-based operator Tabcorp has signed a new agreement with TAB NZ. Through the deal, the operators will exchange broadcasting and wagering rights for Australian and New Zealand horse racing.

The multi-year deal is an extension on an already existing partnership between Tabcorp and New Zealand’s licensed betting and broadcast operator, which has existed since 2007.

The agreement ensures New Zealand racing will continue to be broadcast in Australia through the Sky Racing network, owned by Tabcorp. Australian racing will also be broadcast into New Zealand through TAB NZ’s Trackside broadcasting service.

According to a statement on the Tabcorp website, the agreement helps support “tote pool liquidity for trans-Tasman punters” by providing the co-mingling of tote pools in the two countries.

Commenting on the new agreement, Adam Rytenskild, said: “We are strong supporters of New Zealand racing and we’re pleased to continue to work closely with TAB NZ.

“Through this agreement, we will continue to showcase New Zealand racing in Australia and around the world via Sky Racing and to facilitate the broadcast of Australian racing in New Zealand.”

Meanwhile, TAB NZ executive chair Dean McKenzie, said the revenue generated through the agreement would have a “direct benefit for thousands of Kiwis who rely on racing for their livelihood.”