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Admiral proves hard to catch at Te Rapa
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Marsh confirms stakes target for Te Rapa winner
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River Radiance hands Mok win No 200
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Duric causes a Revolution and saves his night
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Strong Pitman team Oamaru-bound
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AUDIO: Rachael Frost
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Overnight treble for Charm Spirit
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Novara stallions on parade
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New Plymouth targets for Forbes duo
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Entries open for Ready To Run Sale
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Gamma, no point burying our heads in the sand and believing that all is rosey with the future of harness racing in NZ! We are going to be in dire straights in under 3 years if not sooner unless we see the TAB and HRNZ wake up to what is currently happening! as we repeat, you just can not be running things the way they are and expect it to be financially successful! The money is great for owners and trainers at the moment but that is only due to the money being gifted by Entain, and we all know that is going go stop! Personally believe that the industry is not being managed well and that is clearly proven by Winnie needing this committee to be formed. Is Cambridge financially stuffed like Auckland is? I would say yes and yet HRNZ are very quiet on the topic. Anyway those from the sideline have no control over what is happening at the moment but it is our prerogative to question what is going on, despite what is coming out from HRNZ. At the end of the day, hopefully HRNZ is telling the truth about everything being positive for the industry, but wouldnt be betting into that one! Interesting times! -
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By Chief Stipe · Posted
It's interesting how some in this industry are quick to promote a doom and gloom headline or rather a perception of one. The perception is that ENTAIN are going to take a HUGE financial hit from the AUSTRAC Anti-Money Laundering charges. Aka @JJ Flash However if you read the 600+ pages of the AUSTRAC Statement of Claim against ENTAIN and then compare to other successful prosecutions there is a strong case to argue that ENTAIN will get either: 1. A statutory enforced requirement to work with AUSTRAC to achieve compliance (ENTAIN had already agreed to pursue that course); and/or 2. A fine. The quantum of that fine will be comparable to other fines that AUSTRAC have successfully prosecuted in similar cases. There is a precedent for option 1 and that is the Sportsbet prosecution. In terms of option 2 a fine. The degree of non-compliance is not close to the level of WESTPAC's which incurred a $1.3billion fine. So it can be expected to be less. Skycity Adelaide incurred a fine of $67 million. Star Casino received a fine of $450 million. Arguably the ENTAIN case lies closer to SkyCity than Star. Star was allegedly turning over $70m a week with high risk customers which is $11.9 billion a year. There were identified 117 high risk customers with one being given $167m gambling credit!!! By comparison AUSTRAC has identified 17 high risk customers who spent $152 million with ENTAIN. In another case Crown Casinos was fined $450 million - just one of their high risk customers had a turnover more than the entire NZTAB!! Other mitigating factors in ENTAIN's favour is that some of the non-compliance was "purchased" in that it relates to activity done by companies purchased by ENTAIN before they took over. ENTAIN have also been cooperating fully. ENTAIN has a market capitalisation of $8 billion and since the AUSTRAC case was lodged has seen no change in share price i.e. the market does not perceive a high risk from the current litigation. -
I agree, and it is possible to be. both, surely? I refer specifically to former CJC CEO Dave Lloyd, an office-bearer at Te Aroha, Ellerslie, I think Macau ( stand to be corrected on that ) and the infamous Wuhan in China. As well, a former owner-breeder- trainer and with heavy involvement still with family interests in several horses . I'm sure not everyone agreed with him all the time but grassroots empathy was certainly not lacking. On a completely different tack, another former CEO, Lindsay Crocker attracted some criticism because he was NOT a horseman. But as far as I was concerned he was great, he was courteous, listened and took the time to be advised and act accordingly. I couldn't fault him. -
yes, they are still running them as tote races,which is why they need to have the same degree of official oversight as any other tote race. it lines up again tomorrow against a similar field and with m house driving. I see it opened at $3.40.but is already into $2.90. My guess is punters will see the better driver and draw and expect it to lead all the way and win.But ,most likely it will start a hot favorite.
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