Stake, the global online gambling company founded by billionaire Ed Craven, is poised to secure one of New Zealand’s first official online casino licences as part of a government initiative to regulate and legalize online casino gambling. The licensing process follows New Zealand’s decision to issue 15 new online casino licences, marking a significant shift in the country’s gambling landscape.
The licence auction, which took place in September with successful applicants notified on Tuesday, attracted 11 entities willing to pay NZ$15 million (approximately US$12.1 million) for the opportunity to apply. Stake, which currently operates primarily in “grey” markets, has sought official licences as part of its global expansion strategy. The company aims to secure one licence in New Zealand, where online casino gambling has been outlawed until now, except for state-authorized operations.
Other notable winners of provisional licences include industry heavyweights such as the Entain Group, which owns Australian gambling brands Neds and Ladbrokes, as well as the operator of New Zealand’s TAB. Entain was granted two licences outright and a third through a joint venture with TAB NZ. SkyCity Entertainment, an ASX-listed company that runs land-based casinos across New Zealand, secured the right to apply for two licences. SkyCity’s chief executive, Jason Walbridge, expressed enthusiasm about the opportunity to enter the regulated online market, emphasizing the company’s established brand trust in New Zealand and plans to leverage local market expertise.
Additionally, Super Group, listed on the New York Stock Exchange, is among the provisional winners. The group counts South African billionaire Martin Moshal as a major investor and operates global sportsbook brand Betway, adding to the competitive landscape in New Zealand’s emerging online casino sector.
Stake’s parent company, Easygo Group, is headquartered in Melbourne and primarily controlled by Ed Craven—Australia’s youngest billionaire, estimated to be worth nearly US$5 billion—and his American business partner Bijan Tehrani. The company is considered one of the largest online gambling operators worldwide.
New Zealand’s move to regulate online casino gambling presents a notable contrast to Australia, where such activities—including online slots, roulette, and other casino games—remain prohibited. Although its market size is relatively small, New Zealand will become one of the few countries in the region to offer government-approved online casino licences, positioning it as a potential hub for legal online gambling activity.
The granting of these licences signals the start of a new phase in New Zealand’s gambling sector, geared toward increased regulation and consumer protection in a market that has largely operated in a legal grey area until now.