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15 commentsToday we have seen the only remaining truly independent racing industry publication "hang the bridle on the wall." The Informant has ceased to publish.
Why?
In my opinion the blame lies firmly at the feet of the NZRB. Over the next few days BOAY will be asking some very pertinent questions to those in charge.
For example:
How much is the NZRB funded Best Bets costing the industry? Does it make a profit? What is its circulation? 800? Or more? Does the Best Bets pay for its form feeds? Was The Informant given the same deal?
How much does the industry fund the NZ Racing Desk for its banal follow the corporate line journalism?
Why were the "manager's at the door" when Dennis Ryan was talking to Peter Early?
Where are the NZ TAB turnover figures?
The Informant may be gone for the moment but the industry must continue to ask the hard questions.
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thats the thing isn't it brodie,i don't see how racing industry leaders could really know exactly how the geo blocking and increase in nz turnovers was going to impact them. They are just guessing and once the guaranted minimums from entain come off,well all will be revealed as to the quality of management of the industries in recent years. You would have thought caution as relates to spending would have been the wise policy in recent years, but like you,i fear the harness industry has not managed its finances at all well.. The clocks ticking as to when it will be revealed either way. -
i suppose you mean a bit like what they did in the uk last year.The racing industry in the uk had been worried about the tax rates paid by betting providers on horse racing being increased,but after much lobbying the tax rate stayed the same for racing,but was increased on sports betting and especially on on line casino betting.
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What was the guarantee from Entain as to what they were going to be putting into racing stakes at the end of the 5 years? Probably no guarantee and therefore racing stakes are going to plummet if they are going to be relying on the NZ TAB share! Entain never bought 50% of the NZ TAB so that they could help out NZ racing. They bought in for the Sports and online gambling as that is where they see the big profits and not racing! Unless someone knows differently then harness racing is going to be in dire straights as there would be very few meetings now where they make $! Surely would be beneficial if the CEO of Entain or CEO of HRNZ could actually come out and explain what the go is in 2 years time!!! -
what,are you suggesting the nz government recieve no tax money from the nz tab/entain?
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it depends what we are discussing. i was thinking along the lines of what we saw when entain reduced expenditure on certain things last year. like any business,if profits aren't as high as they want globally or say in australasia,they look at ways of cutting costs. That played out last year in nz with some job losses in areas that service the industry for entain and for example, the tab racing club which was a promotional tool for entain,was stopped and that 2.5m annual spend on the industry disappeared. thats the type of thing i'm thinking of.
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By Chief Stipe · Posted
She is indeed. Assuming you mean the Russian Revolution filly. -
By Chief Stipe · Posted
The analysts still have a BUY notice on the stock. I know at least one BOAY member who bought in at the last low and sold on the last high. The biggest threat to ENTAIN and indeed the whole wagering industry is Government seeking a return in the form of taxation. I imagine both Australia (Federal and State) and the NZ Government are looking to get a positive return from racing rather than having to subsidise it continually. -
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