Chief Stipe

TAB NZ half-year financials benefit from cost management and increased revenue 1 April 2021 TAB New Zealand’s results for the six months to 31 January 2021 were enabled by a range of factors including focused cost management with $11.9 million reduction in expenses (11 percent less than 2019) and increased revenue of $7.0 million to $193.5 million (4 percent above FY20). Profit before distribution was $94.5m for the period, which was $25.9m above budget and $19.0m (25 percent) above last year. During the period, the three racing codes received distributions and other funding of $83.2 million, including $9.8 million from Betting Information Use Charges (BIUC), $3.5 million from the repeal of the Betting Duty, and $6.6 million via Government support package for the racing industry. More than $6.2 million was distributed in commission payments to national sporting organisations, which was 5 percent less than the same period in FY20 due to reduced sport content during the year. HY FY2021 HY FY2020 Change % Turnover $1,589 million $1,500 million +6.0% Revenue $193.5 million $186.4 million +3.8% Operating Expenses $58.5 million $71.5 million -18.2% Profit before distributions $94.5 million $75.5 million +25.1% Total distributions and other funding to codes $83.2 million $83.9 million -0.8% The release of the organisation's 2021 Half-Year Financial Statements follows approval by the TAB NZ Board at its most recent Board meeting and supplements the publication of its monthly performance updates. Betting and Gaming Turnover Total turnover was $1,589 million, which was $89 million (6 percent) above last year and $190 million above budget (14 percent). Gaming turnover decreased -3 percent to $256 million (-$8 million), despite successful TAB refurbishments and EGM conversions. This was due to Covid-19 related gaming site closures with periods of no activity occurring in Auckland in early FY21. Revenue Total revenue for the period was $194 million, $7 million (4 percent) above last year. Performance was driven by higher betting turnover combined with favourable results experienced in racing and sport fixed odds during the year. Net betting margin remains consistent with prior year and budget at 12 percent. Net gaming revenue of $15 million (-3 percent) was consistent with the reduction in gaming turnover. Other revenue decreased by $10 million (-42 percent) against last year; a key movement in this category is an $8 million reduction in venue service cost recoveries to support the industry’s post-lockdown return to racing. Expenses Total expenses for the period were $98 million ($110 million, 2019) - an 11 percent improvement for the same period last year; this is driven by a combination of a slight increase in turnover related expenses (up $1 million due to cost savings of $4 million primarily on promotional and retail activities), and a significant decline in operating expenses versus last year (saving $13 million or -18 percent which includes a reduction of $8 million in staff expenses). Assets Total assets of $232 million have increased by $24 million (+12 percent) (as at 31 January 2021) due mainly to greater retention of cash and term deposits of $25 million. This was offset by other balance sheet movements during the period. Distributions Distributions to the Racing Codes totalled $74.2 million, with $60.9 million from betting profits, $9.8 million from BIUC and $3.5 million from the repeal of the Betting Duty. This is $5.3 million more than budget. Furthermore, total enhancement fund distributions from current year’s gaming profit to the racing industry amounted to $2.5 million (up by $0.9 million from the same period last year). Additionally, a further $6.6 million was received via the Government’s racing industry support package in August 2020 and passed on to the codes to support the industry’s recovery from the impact of Covid-19 ensuring that industry funding was maintained at pre-Covid-19 levels. Furthermore, excluding the impact of distributions for venue service costs (ie, direct costs to provide services to race meetings which the TAB has elected not to pass on to the racing industry since towards the end of last year), actual distributions and other funding is comparatively higher in the current period. Liabilities Total liabilities decreased by $2 million against 31 July 2020 as a result of debt repayment ($10 million), which was offset by an increase in customer account balances ($2 million) and the timing of settlement of payables at balance date. The total current provisions in the balance sheet included payment to Sport New Zealand and a portion held for harm minimisation purposes arising from the impact of the Betting Duty repeal; the former is anticipated to be paid in the second half of the year once regulations are confirmed. Equity Total equity of $80 million is up $27 million (+51 percent) compared to 31 July 2020, driven largely by the retention of surplus funds to rebuild TAB NZ’s financial resilience. Looking forward With this strong start, combined with the positive performance during the first half of this year, TAB NZ operated with a strong working capital and balance sheet position enabling it to further invest into the future and continue supporting the racing industry and sport.

New management role for McKenzie 14 April 2021 The TAB New Zealand (TAB NZ) Board have appointed Dean McKenzie as Chief Transition Officer, a full time management role leading the organisation’s day to day responsibilities and ensuring a smooth transition to a permanent Board once they are appointed. The selection follows the announcement earlier today by the Minister for Racing, Hon Grant Robertson of the appointment of Liz Dawson as Interim Chair of TAB NZ, replacing McKenzie who has stepped down from his prior role as Chair to take on the new position. Chair of the interim TAB NZ Board, Liz Dawson said the TAB needed surety and consistency through this critical phase of the business as it transitioned to its new focus following the passing of the Racing Industry Act last year. “By the end of this year the TAB will need to have supported the finalisation of racing reforms, developed a five-year strategy and a Statement of Intent, and ensured a smooth transition to a new, permanent Board once they are appointed. The Board recognises this ambitious programme of work, on top of leading day to day business, requires immediate focus and we’re delighted Dean has agreed to take on this responsibility, said Ms Dawson. “For various reasons the appointment of a new Board has taken a bit longer than anticipated, so provide surety to the business, its staff and racing and sport stakeholders, we’ve acted now to appoint Dean until a permanent CE is appointed by a new Board.” Chief Transition Officer, Dean McKenzie said he was pleased to commit to the business as it transitions to a more commercial, customer-focused business. “I’m looking forward to focusing on managing the business through this period of change and delivering on our immediate objectives while ensuring a smooth transition to a new Board and Chief Executive when it happens, said McKenzie. “From a day to day perspective, I don’t anticipate much change to our activities but I am looking forward to having a more hands-on role and working with the current leadership team to deliver great betting products for our customers and maximise profit for racing and revenue for sport.”

Well I guess that gets Dean McKenzie out of the hen house!

New chair of interim TAB NZ Board appointed . 14 April 2021 Racing Minister Grant Robertson has announced he is appointing Elizabeth Dawson (Liz) as the Chair of the interim TAB NZ Board. Liz Dawson is an existing Board Director of the interim TAB NZ Board and Chair of the TAB NZ Board Selection Panel and will continue in her role as Chair of the selection panel to see through the recommendations to the Minister. The Interim Board is responsible for the governance of TAB New Zealand until the substantive Board of Directors of TAB NZ is appointed. Ms Dawson replaces Dean McKenzie, who is taking up the role of Chief Transition Officer for the TAB. He will lead the transition of the organisation to implement the reforms of The Racing Industry Act 2020, until the incoming TAB NZ Board is appointed and are able to recruit a permanent Chief Executive. Liz Dawson brings considerable executive and governance experience in companies that are listed on the ASX and NZX. She is a Member of the New Zealand Order of Merit and was appointed to the Racing Industry Transition Agency in July 2019. She also has experience in private, community and statutory organisations, including in sports governance roles. “I want to thank Liz for stepping into this role, and indeed Dean for taking on the CTO role. “It is important that we have stability as we undertake a thorough process to appoint a high quality permanent board for the TAB,” Grant Robertson said. Last month the Minister expanded the search for nominations for the permanent TAB Board. That process is expected to take a number of months to finalise.

I've told a couple of key people in the industry that if I had a good two year old at the moment that was a potential 2000 Guineas competitor I would not want it to travel to Riccarton come November UNLESS there was a clear plan NOW to resolve the issues that the track has. If it was good enough to win then I would be looking to Australia as I don't have a lot of confidence in Te Rapa, Awapuni or Trentham either. I've been a long term critic of Ellerslie however that track seems to be racing better now but will leave judgement until after I have walked it. Te Rapa has had some renovation work done recently which was mentioned by the Track Manager in a preview for this weekends meeting. The rail is out 2m because the inside has not recovered to the same level as further out. Will be interesting to see how it plays.

I disagree. There has been a resurgence in some areas in Club rugby. Why? Because some unions have recognised that a strong club network results in a strong professional team e.g. Canterbury. Canterbury has also invested in their feeder Unions - e.g. West Coast, Tasman, etc. The Crusaders don't always play their homes games in Christchurch. In Auckland high school rugby is very very strong. Literally thousands will turn up to games with next to no facilities that would make any racing club in NZ envious. Where Auckland falls down is in the next level between school and the professional teams. They are slowly starting to recognise this. Unfortunately the value of our provincial and small town racing clubs has not been recognised. Racing Clubs that provide good racing surfaces and at low cost. The central administrators think they need to have better and better facilities and lots of peripheral entertainment to attract people oncourse but neglect or disenfranchise those that feed into the network.

Wrong Gammalite. You miss the point and I'm surprised so many other people are missing it as well. Two scenario's could be resolved by HRNZ maintaining and keeping up to date a central registry accessible by every owner who had a pecuniary interest in a Standardbred be it a racehorse, yearling or breeding proposition. We do it with damn motor cars and other motor vehicle assets why is it so hard for HRNZ to do it for the asset that drives the industry the bloody horse. So every owner signs an ownership form that details what % share they have of an identified horse that is already registered in the system - i.e. it has a freeze brand. HRNZ's system checks that the % of those who have signed an ownership form is not greater than 100%. Any owner then able to sign in online and check that the % they signed up to equals what is in the system!!!!! Get it? If an owner is charged for insurance of the horse they have a share in i.e. the horse is insured then that interest is again registered with HRNZ. Both the owner AND the insurance company have a pecuniary interest in the horse. Both the Owner and the Insurance Company can sign in and check online. HOW BLOODY HARD IS THAT TO DO? If it was done then Kerr couldn't have committed at least two of the examples of fraud that he has been charged for. If HRNZ aren't charged with protecting the interests of stakeholders WTF are they there for?! It really pisses me off no end that supposed industry fans are really quick to double down on ANYONE that is caught doing something wrong (minor or major) yet let the HRNZ administration just keep blithely going along spending millions of dollars doing Sweet Fanny Adams!

Riccarton?

What the hell does it have to do with the DIA? I'm not proposing that HRNZ manage syndicates but just that they register ownership and financial interest data centrally and readily available to all participating owners. How hard is that? When an owner gets a bill and it says 5% of training fees at $90 a day and that 5% matches the central register then all is good. But it appears currently we have a system where shares can be oversold and horses sales and transfers are not registered promptly.

More chance of two $15k races paying their way than a $30k one. Probably better to have a $20k race.

But what has INCA actually achieved? Other than cost millions which could have been spent better spent elsewhere. The best you can come up with is it was some form of marketing exercise signalling to all those supposedly cheating that the RIU is doing something. All it did do is show that they are expensively incompetent. They have to score any direct goals! You could spin a positive by saying "well the fact that after having spent millions they found nothing is a good indicator there was nothing to find!" Yes I put a large part of the blame on him and his ilk who have been paid risk free salaries for years and have done NOTHING but drive the industry into the ground. To the point where it is hard for any but a handful of harness trainers to make a professional living from racing. I also expect more positive action from administrators than simply saying glib marketing spin. Is it any wonder the industry is in free fall? A lot of the recent fall out that we are seeing is symptomatic of the fundamental issues NOT the cause.

That's head in the sand though and under the new model where more costs have been devolved to the codes the day of reckoning might be only a season away.

I realise Basil you are in the baying for blood carrion eating vulture mob BUT shouldn't there be systems in place to protect owners AND trainers? What has that to do with victim-blaming? I guess you adhere to the Jacinda Arden model of kindness - let's slam the front-line MIQ worker that didn't get tested for 6 months and call for his blood to hide the fact that the systems in place failed. Isn't it the role of HRNZ to have systems in place? Sure if you try hard enough I guess any system can be rorted particularly it is a shyte system but that is NO excuse to have NO system in place. How hard would it be to have an ownership system where an owner can check centrally who owns how much of the horse they have invested in? How hard would it be to register on file centrally a copy of the insurance policy and premium payments made? You have register centrally all the interests in a $5,000 motor car but you don't have to do that for a $50,000 standardbred yearling? Come on Basil! Other jurisdictions have had the same issues as the Kerr case highlights and are doing something to address them. Why the hell can't our own HRNZ do the same? Or at least go on the front foot and say that they are instituting administrative changes to make these things harder to do. The fact is everyone bangs on about it being a professional sport but it sure is run by a bunch of amateurs. So Basil once you get over your blood lust why don't you direct your energy to bringing about some positive change?

I haven't done an analysis of the data but there seems to be a consistent trend emerging. Are the race meetings starting to have less races and smaller fields?

Which as you know have gone on for years. Where is the protection for the Owners? Come on Woodham - make a positive statement to the press that HRNZ is putting systems in place to stop the over selling of syndicates and the selling of non-existent insurance policies!!! For example does HRNZ still pay the Stakes won to the Syndicate Manager? Why not pay it directly to each of the owners in the syndicate? They can split it for Trainers and Drivers how hard is it to go a step further? WTF does HRNZ do for the $6m a year they spend? Note that that $6m will increase this year due to the devolving of functions from NZRB/RITA/TAB-NZ. Also note that the published 5 year business plan ended in 2020. When is the next one coming?

Yet you say NOTHING, ZIP, NADA about HRNZ improving their systems and administration to prevent the fraud committed in the Kerr case. Most if not all of his crimes could have been protected if administration procedures had been put in place to PROTECT owners. Sometimes I wonder if you are an ex cop and focused on the kill and the score board. That's probably why INCA was an abject failure yet you class it as a positive because it caught people for things other than what it was investigating. What do we get from Woodham - nothing to close the loop holes and make positive changes to the administration of harness racing but a naive nothing statement saying "I expect all participants to act with integrity and honesty"! FFS easy for him to say while sitting in his over paid ivory tower doing SFA now and previously at the TAB. Meanwhile the average training can barely scrape a living from the game.

Rule Number(s): 638(3)(b)(ii)RACEDAY JUDICIAL COMMITTEE DECISION Informant: Mr A Coles – Senior Stipendiary Steward Respondent: Mr M Hashizume – Apprentice Rider of TAVI WITH ME Information ... (Feed generated with FetchRSS)View the full article

There is another article where the Trainer says something similar.

The SAFE woman wouldn't have known anything about it! It took Sherwood and Van Beynen to tell her! Their agenda is clear. To the point it now looks more like a vendetta! Nothing to do with being clever.

Yep - 11 years old and 317 starts! Lucky Brodie is restricted as I'm sure it wouldn't have paid $33 if he wasn't!

Addeybb to wear blinkers in Queen Elizabeth Jockey Tom Marquand drives Addeybb to a decisive victory in the 2020 Queen Elizabeth Stakes. Photo: AAP Image/Dan Himbrechts Ray Thomas3:55PM13 April 2021 14 Comments Addeybb will wear blinkers for the first time in an endeavour to find the extra edge he needs to win a second successive $4 million Longines Queen Elizabeth Stakes (2000m) at Royal Randwick on Saturday. English jockey Tom Marquand conceded Addeybb was “a touch below par” when beaten by arch rival Verry Elleegant in the Ranvet Stakes which has prompted the gear change. “I couldn’t help but think he didn’t quite hit the last 100m like he normally does,’’ Marquand said. “So, we have whacked the blinkers on, that is something we haven’t had on before. He has had cheek pieces on the last three or four years so it won’t be a big shock to him. “He won’t grow a spectacular pair of wings and do something he has never done before but it might help him travel and put a bit of spark back into him.’’ Addeybb has a roll after trackwork. Photo: Mark Evans/Getty Images The Queen Elizabeth Stakes has been billed as a match race between Addeybb and Verry Elleegant for some weeks but the jockeys of Sir Dragonet and Mugatoo don’t see it that way. Glen Boss, the rider of Sir Dragonet, said the horse gone to another level since his dominant Tancred Stakes win. “Verry Elleegant is the main danger, she’s world class,’’ Boss said after riding Sir Dragonet in an impressive gallop at Royal Randwick’s Trackwork with the Stars on Tuesday morning. “But this is going to be a spectacular race – classic distance, one of the best tracks, three great riders on three good horses – hopefully we can make it a good spectacle for everyone.’’ Bowman rides Mugatoo who is coming off his close fourth in the Doncaster Mile last Saturday. “I might remind Glen there are eight in the race, not three,’’ Bowman said. “But it is a very good race, high quality, and Mutagoo deserves his place in the line-up. “He ran below expectations in the Doncaster, I won’t beat around the bush there, but if he can bounce off that and get back to the form he showed winning the All Star Mile a month ago he will make his presence felt. We know 2000m is his best distance.’’ James McDonald put Verry Elleegant through her paces at Rosehill trackwork before going back to Randwick for the big-race barrier draw. “She is in really good order and did a lovely piece of work (yesterday morning),’’ McDonald said. “I’m looking forward to the big clash.’’

I'm a bit confused about the donation bit..... Donation to who? I thought there might be a bit of skill involved and a chance to take the TAB on!

But where in the rules does it say that?

Quote ONE post I made that supported Kerr? Forbury people in glass houses shouldn't throw stones. Geez you are really excelling yourself tonight two posts on the same topic under two different accounts!

But that is part of the racing horse's. Is a horse any different to a dairy cow that has been milked for 8 years and is then sent to the works or put down the hole? Both in terms of the animal activists are deemed to have been "exploited" for profit. In my opinion the article is muck raking. Squeezing as much as they can out of the lemon. Why do trainers need to be "clever" in their disposal of livestock?