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Leveraging the strength of our Australia platform, our partnership with TAB NZ in New Zealand is making progress. The business was successfully migrated onto Entain Australia's technology during Q2 and Entain launched our new complementary online-only sister brand "betcha" in August. On a proforma basis, Online NGR was up +4%cc2 and we are encouraged by accelerating momentum through the year, with actives growing 10% in 2024. More customers in New Zealand are enjoying an enhanced and engaging sports betting experience, and we look forward to this growing opportunity following the introduction of the legislative "net" for racing and sports betting expected in 2025, as well as the improving outlook for online casino regulation in the future... Despite the tougher macro-economic environment in New Zealand, NGR was +1%cc2 ahead of 2023 on a proforma3 basis. Online was up +4%cc2, with H26 +7%cc2 following the successful migration to the Australian platform and the launch of new sister brand, betcha. Retail down -9%cc2... Operating costs were 18% higher year on year as a result of inflation, higher colleague bonus costs and the annualisation of 2023 acquisitions. Resulting EBITDA5 of £594.0m was £47.0m ahead of 2023, and after deducting depreciation and share based payments, operating profit7 was £407.0m, £19.7m ahead. The increase in depreciation has largely been driven by the annualisation of 2023 acquisitions and the New Zealand partnership... As a result of the tougher macro-economic environment in New Zealand and the delay in the introduction of the legislative net, an impairment of £142.5m has been recognised against TAB New Zealand. Additionally, regulation changes have impacted the Netherlands and Belgium, resulting in impairments being recorded on BetCity (£113.1m) and Belgium (£76.3m) assets. In relation to these, there has also been a release of BetCity and TAB New Zealand contingent consideration totalling c£80m. After separately disclosed items of £524.0m (2023: £435.5m), the operating loss was £117.0m (2023: £48.2m)... -
I think there have been some tracks that have had their use discontinued but there doesn't seem to be the unholy glee to strip everything away. They understand tradition. A very experienced former racing executive said to me once, mess with tradition at your peril. And across the ditch, which given our social, political and ethnic similarities is the logical place to look, they seem to cherish and support their provincial and country meetings. -
Recently watched Guerin Report after my travelling guests retired and the beauty of My Sky is one can rewind after hearing/seeing something that grabs your attention. Guerin gave an admirable up date on where champion day notables are heading then introduced the new NZTR CEO Matt Ballesty. THIS REALLY GOT MY ATTENTION. After the usual corporate spiel he said "There are some really big infrastructure issues, especially in the Central Districts. There is some big real estate plays that need to happen and they are in train hopefully in weeks or months". (I am not bullshitting you, those were his words) His next words are. "And we can start to understand what we can do with the funding" By his own admission he has been working on the job for a month prior to the official start and that suggests he is working towards a preset agenda. I had hoped for better, idealistic me, we are heading as an industry that is going to be top North Island heavy, lacking in diversity but will appeal to shallow as a puddle Pollyanna TAB 4 eva types who will not be around next decade; i.e croaked, and the young generation next decade will be saying "how boring.". Before you start firing rounds at me, look at the home of thoroughbred racing, England and note how they, generation after generation continue to race at the same tracks. They have massive problems with poorly considered affordability checks, driving wealthy owners and punters towards different gambling arenas or black markets yet selling their race courses is never an option. -
By Wandering Eyes · Posted
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By Wandering Eyes · Posted
Trent Busuttin will treat Emphasize’s (NZ) (Embellish) last-start effort in the Gr.2 Autumn Stakes (1800m) at Caulfield as a complete forget run as the plan to get him to the Gr.1 Australian Derby (2400m) next month remains. The stable could have two runners in the race with the Gr.1 New Zealand Derby (2400m) runner-up Thedoctoroflove (So You Think) also likely to head to that race at Randwick on April 5. Busuttin said Emphasize will have his next start in the Gr.2 Alister Clarke Stakes (2040m) at The Valley on March 22 and he expects him to return to his best. The co-trainer said Emphasize’s last-start fourth in the Autumn Stakes behind Shanwah (NZ) (Too Darn Hot) at Caulfield had to be forgiven. “He’s always been a horse in his work and in his trials that’s had the tendency to grab the bridle and he took hold of Craig (Williams) as he saw clear air early in the race and he started charging,” Busuttin said. “We’ve always been mindful of this habit and we’ve tried to get cover, which is what he needs otherwise when he sees clear air he charges into the bridle.” “The race was over for him with 1200m to run as he was charging into the bridle.” “The effort to finish where he did was solid enough.” Busuttin said the lightly raced galloper had won his previous two previous starts as he managed to get cover in the run. “He will head to the Alister Clarke Stakes and we’ll make sure he gets cover and he’ll turn it around quickly,” he said. View the full article
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