Chief Stipe

Have you read the report? The banning of access to overseas operators was definitely floated as an option to stop leakage. It was actually Option A. However it was rejected as the favoured option for a number of reasons - one of them being the difficulty of enforcement. Which ironically is what you are complaining about. What was being investigated was how to get a fair return on the NZ racing product (and sports) that has been invested heavily in.

I understand there were a considerable number of discussions behind the scenes about the precarious situation the TAB was in. However there was a disconnect between what the accounts were showing and what was being reported publically and to the Minister (McAnulty?). Although with the latter I wouldn't be surprised if whoever was the Minister at the time didn't know the true picture. Ultimately it culminated in the Minister (Winston Peters) publically showing displeasure and providing a bailout package at a politically convenient time. Many of us on BOAY were posting here for a long time our analysis of the accounts. I was particularly critical of McKenzie the transition CEO. What would they be held to account for? There was hardly any corruption as the accounts were reporting accurately the state of the organisation. A decade or two of incompetence and mismanagement definitely - corruption no. Allen signed up to two or three contracts which were the millstones i.e. the Spark contract, the Broadcasting contract and the Betting system contract. They were all contracts that stunk from the beginning and had all the characteristics of contracts negotiated by a Government Bureacrat. ENTAIN is a FTSE 100 company and could buy and sell our biggest companys. They have taken some hits in the last two years but in the last 6 months their share price has rebounded by over 30%. Once ENTAIN took over there would have been immediate cost savings e.g. the betting system contract. I'm also sure that because of the change in operating structure ENTAIN as an experienced private sector company would have renegotiated many of the existing contracts. They also had negotiated that after a period they could start to lay off staff. Now I'm not sure that this is the case but for example why would you need two sets of bookies in the Australian and NZ market? In all core overheads would have reduced since the takeover. Sadly that is, in my opinion, a malaise inherent to NZ as a whole. Racing is a competitive sport and everyone is into to win. Afterall that is the essence of racing. Where things have failed, and have failed for a very long time, is sectors in the industry haven't had strong sector organisations with strong leadership. When they do try to stamp their feet they get it wrong and look stupid. An example of that is the recent Owners and Trainers Association call to action over the tracks. The outcome was that they blamed track managers NOT themselves for promoting increased stakes for decades at the neglect of maintaining infrastructure. Which doesn't surprise me because how many Owners or Trainers have ever bothered to walk a track on a regular basis.

Obviously a number of systems failures. The ultimate one being the RIB Raceday Stewards didn't notice.

Hardly a secret. Was clearly evident in the annual accounts year on year. The trajectory would have improved as ENTAIN was in a position to negotiate out of the financially crippling contracts that TABNZ was entered into. One of those was the betting system which ENTAIN already owned. Of course we no longer have full visibility of the accounts or turnover with ENTAIN being a private company. Overall though ENTAIN is recovering strongly this year - the question is do they drop the NZ business. The reason they may not is that once the five years is up they enter into a profit sharing arrangement. In that scenario it isn't inconceivable that the cash available for stakes will drop substantially.

Well ENTAIN is 74th on the FTSE 100 and a market capitalisation of €6billion.

Do you live in a bubble? The plan to ban has been on the agenda for over a decade. I can't be bothered listing the complete timeline BEFORE ENTAIN pitched up. ENTAIN didn't ask for it is was always on the table. What was up for negotiation was how much ENTAIN would pay for it I suggest you ditch your anti-ENTAIN bias and buy some shares.

FFS they actually got through 7 races before the abandonment. @Newmarket would have cancelled the day before with his prescient knowledge of what was going to happen...after race 7. Report 2025-07-03 Ashburton.pdf

Actually starting would be the first action!

Actually @Newmarket instead of pissing around I'll make it easier for you. 2015 is earlier than 2023 - is it not? See attachment. However it was floated before then. Working Group - Final Report October 2015.pdf

Why would I bother when everyone knows it as a fact. Not our fault you are behind. Um...clue...Racefields legislation.

Well before then. But I guess you aren't a detail person.

Not stressed at all. I find you amusing but not very humorous.

I hear what you are saying. You start getting biased because of allegiances or being influenced by the weight of what is posted from one type of opinion. @curious sticks to the numbers.

Does it matter who employs them? They are young, enthusiastic and employed in the industry. That's what we need!!!

I'm not "in love" with any particular stable however I post facts and applaud excellence.