Chief Stipe

Once again thank you for your comprehensive response. I know there is no takeout rate on Fixed Odds betting. What I do know is that there is a profit or loss on a book. We do know that the tote is more profitable than fixed odds in terms of revenue. The revenue i.e. profit from fixed odds BEFORE costs is substantially less than the tote. From what we can with the minimal information that we are now getting is that bonus bets haven't done anything to improve the fixed odds profitability. As Mardigras points out NZRB/RITA's betting product management is fixated on turnover NOT revenue.

Thanks for your detailed and well thought out reply. I used an average takeout rate NOT specifically a tote takeout. At the end of the day someone pays. The only way the TAB wins is if those that get the bonus bets are perpetual losers and because of the incentive bet more than they would normally. No one has yet showed how they make a profit out of the promotions.

Yes but they may still need to anchor off shore.

Ok. Just shows you don't need to do much to keep them fit enough to be a couple of weeks away from a jump out! Take note Huey.

Funded by the Wellington City Council ratepayer and the Greater Wellington Regional Council which is funded by the Wellington City Council which is funded by their ratepayers...... But it isn't all bad....one of their successes from their annual report is securing "The World Crustacean Conference in 2022 of 200 delegates." I hope they aren't arriving by sea.

I didn't realise that there were exemptions to the NZTR/MPI protocol? Obviously safer to work on your "home" track than the "public" track next door.

The big difference is Freda that their financials look better than ours in terms of ratios like debt to assets! They are an incorporated public listed company and have statutory reporting obligations. They produced a half yearly report for the half year to the end of January 2020 yesterday. PHUMELELA_int_jan20.pdf

Can you read an annual report? The costs they are talking about reducing are peanuts in the overall scheme of things. Does radio trackside really cost that much to broadcast? They are simulcasting the TV audio so they haven't saved any broadcast costs other than staff.... Well they haven't really done that even - one would think that Radio Trackside staff were on the payroll and the Covid-19 staff has been claimed for them so they are still paying 80% of their salaries anyway! Smoke and mirrors! What about the BS that they are saving costs by racing only at courses that have "optic fibre" installed? That's none other than a red herring to justify the hidden agenda of closing down clubs that are not part of the master plan.

Thats been my base case for months and is being addressed, but unlikely to satisfy all participants Nearly 11 months in and RITA has so far done ZERO to address the issue. If it was so apparent to the Minister and presumably his handpicked RITA crew - why is it taking so long? Peter's talks with forked tongue anyway. What "number of years" is he referring to? Surely not the period 2005 to 2008 when he was Minister for Racing - remember the $10m+ he dished out for $1m Iconic races? Wasn't that an example of "living beyond our means"? 2017 to 2020 - um what has he done? Created a new agency which is nothing more than the old NZRB in drag. Which according to you doesn't have to report to the Minister or Industry in the same fashion as previously. Still waiting for that half-yearly report.

Phumelela Gang announced need for financial relief. By James Stevens/Racing Post Today, 4:18 PM The group which operates the majority of racecourses in South Africa warned on Monday it was facing bankruptcy as it emerged the sport's shutdown could extend for a further four weeks, despite earlier plans for a resumption from last Friday. Phumelela Gaming, which operates tracks including Turffontein and Vaal and provides pool betting services, released interim results that referenced a "dire situation" for horse racing in the country and outlined its need for financial relief. That situation has been compounded by the ongoing shutdown of South African racing, which missed an intended return on Friday and now faces an extended wait before resuming action. South Africa went into the fourth stage of lockdown last week—at which point it was believed racing would be permitted to continue—but the National Horseracing Authority (NHA) now expects the government's green light will only come in the next stage of the country's coronavirus response. The Racing Post understands the NHA believes that will come in around three to four weeks' time, at which point they will request the sport's resumption again. This confusion meant Turffontein's three group 1 races, the Horse Chestnut Stakes and South African Derby and Oaks, were rescheduled from last Saturday to Sunday, May 10, but are now unlikely to go ahead unless there is a U-turn on resumption from the government. There are fears that the races may be taken off the 2020 calendar completely. Patrick Davis, racing executive, said: "We had provisionally rescheduled the SA Derby, SA Oaks and Horse Chestnut Stakes from 2 May to 10 May—but given the likely scenario that we're still not permitted to resume by then, further discussions within the industry will need to take place around the Pattern races this year. "We've already delayed the Pattern by a month in the hope that we might be able to resume within that time frame and run these important races in a constricted season, but it'll be back to the drawing board if we can't and it may well be that certain Pattern races will have to be canceled this year if they are unable to fit into a further constricted time period. It's a work in progress." On Monday the country's major racecourse group Phumelela revealed its losses for the six month period that ended January 31 increased to R115.1 million (£4.96 million), from R61.4 million (£2.64 million) at the same point last year. They may now file for voluntary liquidation. A statement from the group read: "At the date of this results announcement the prospects for horse-racing, other sports events and betting are uncertain and the board is in no position to provide reliable guidance. "The group is operating under onerous conditions, much of which is beyond its influence. Phumelela seeks further negotiations with the broader horse racing community to find a resolution to the dire situation in horse racing and agree commercially sustainable solutions. "The group remains engaged in discussions aimed at raising capital. Should these discussions not prove conclusive soon, the board will have to decide on whether there is any reasonable prospect that the Group's business can be rescued, or whether to make application for voluntary liquidation. "The board's current view is that even if financial relief can be obtained, a relief package should be negotiated as part of a business rescue plan. The board will make an announcement in this regard in the near future."

Yes I tend to agree with that statement. Because of the harsh Level 4 restrictions over 5 weeks or so and then the dithering before an announcement about a calendar this season was basically shot. What racing we do see before 1 August 2020 won't actually be a show case of NZ racing.

Wooh ease up there Mardigras. Lies? I suppose it's not too much to ask that we get back on topic?

What about the Levin jumpouts? Good enough to obtain a barrier certificate.

They've been doing it for years. Has got more prevalent as the volume of trials and jumpouts has reduced. I've always wondered what it does to a horse's confidence.

It'll have blinkers on.

Since when has Government been good at choosing winners?

Can you confirm that the Minister of Racing, the CEO/Chairman of RITA and the RITA Board will not be releasing a half yearly report for 2019/20?

Not you.

All this bubble nonsense is getting out of hand. Our supermarkets have largely had a free reign for the last 6 weeks. The 2m rule in those places is impossible to maintain. Only takes one person dithering in an aisle.

Michael Guerin: Winston Peters losing patience with racing's infighting as ruling body set to make dramatic cost cuts 2 May, 2020 6:00am 4 minutes to read The Racing Industry Transition Agency have been under attack from many sectors. Photo / Getty NZ Herald By: Michael Guerin COMMENT: The boss of New Zealand racing — Deputy Prime Minister and Minister of Racing Winston Peters — has finally spoken out and it would appear he is losing his patience with the industry's relentless in-fighting. Peters has kept his public comments about the racing industry brief during lockdown but suggested this week there could be Government support for the struggling industry in coming weeks, possibly announced as part of the May 14 Budget. Peters has put his weight behind the Racing Industry Transition Agency (RITA, the board running the TAB) even though they have been under attack from many sectors. Those attacks eased, for a while at least, on Thursday when the codes were able to announce satisfactory stakes levels for the remainder of the season. The stakes are not great but about the best that could be hoped for in the middle of a worldwide crisis. The nonsensical talk of $5000 stakes, the TAB being insolvent and trainers striking may disappear for a while. The racing industry has many problems and one of the worst is constantly publicly shooting itself in the foot. Peters is the single most important person standing between racing recovering and then improving, or basically being stuffed. Correspondence obtained by the Weekend Herald shows he is firmly backing RITA's actions and thinks the industry has been living beyond its means. A respected industry employee wrote to Peters three times over recent months and received a reply on Thursday signed by the Minister which leaves little room for argument about where his loyalty lies. "RITA inherited a structure which frankly has been living beyond its means for a number of years," wrote Peters. "It faces the unenviable task of addressing that issue while negotiating all the implications of the Covid-19 crisis. "Unfortunately some voices in the industry blame RITA for the problems they have inherited. "This is unproductive. And we don't intend to stand by silent to such criticism when that criticism lays properly somewhere else. "The Government will provide the industry with all the necessary tools to determine its future. However, collaboration and leadership from all levels of the industry are needed ..." Minister of Racing Winston Peters has thrown his support behind RITA as he tires of the industry's infighting. Photo / Trish Dunell The letter also backs the directors of RITA and suggests the Racing Bill could be back in front of Parliament before long. Weekend Herald sources are suggesting it could be passed into law before the election which would, depending on the amendments suggested by the select committee, give racing more power to get things done. So Peters is clearly not in the mood for the tail to be wagging the dog and its appears those who are, at best questioning or at worst undermining RITA, are also going up against the minister. Two of the key issues for RITA, apart from the obvious lack of money and a worldwide pandemic, has been poor communication and outrage from industry participants over their staff levels and therefore expenditure. Both are justified. A recent letter from the Trainers' Association to RITA was handled poorly and often communication to the industry has been so complicated and full of corporate jargon. The people it is aimed at informing have no idea what it means. RITA have also been purposely vague so as not to annoy other political forces while the racing industry applies for a support package. If that is granted, it isn't to prop up RITA, but support the codes. It would be a prudent idea for the racing industry to present a united front as they are asking for Government help. And as for RITA's top-heavy expenses, it is now certain there will be a significant reduction in costs, including many redundancies inside the business. RITA bosses are refusing to comment but it is definitely going to happen, with heads of departments already reporting on how they can achieve those savings, including staff cuts. As for the hot-button issue of out-sourcing? That is still on the horizon but with so much global uncertainty the major potential partners won't be negotiating hard deals any time soon. Implementation of any out-sourcing deal, if it happens, would be at least two years away and only if the Government of the day has an appetite for it. But what Peters seems to have more of an appetite for is racing presenting a united front, especially as it joins the long queue of struggling industries seeking help.

Well the publishing of the Half-Yearly Report from RITA(NZRB) has never been this late before. I've looked back 12 years (gave up after that) and the latest was 1 May 2017.

CEO salary seems to be around $350k

NEW CEO APPOINTED TO WELLINGTONNZ 28 April 2020 John Allen has been appointed as the new Chief Executive of the Wellington Regional Economic Development Agency (WellingtonNZ). John is a passionate Wellingtonian and an experienced Chief Executive, having led New Zealand Post, the Ministry of Foreign Affairs and Trade and – most recently – the New Zealand Racing Board. He has served on the Boards of Te Papa and the New Zealand Festival, and is currently on the Council of Victoria University of Wellington. WellingtonNZ Board Chair Tracey Bridges said the Board was delighted to welcome John Allen to the WellingtonNZ team. “Working with our partners to contribute to the economic, cultural and creative development of our region has never been more important than it is now, as we reimagine our region post-COVID-19. We are delighted to have such an experienced leader and passionate Wellingtonian to join our team.” Wellington Mayor Andy Foster added that he was looking forward to working with John Allen. “John will be joining at one of the most testing times ever for the local, regional and national economy. “I know John well – he’s a big picture, creative thinker which are exactly the skills Wellington needs at this time. The fact that someone of his calibre is attracted to this role is a great endorsement for the excellent work of WellingtonNZ.” Greater Wellington Chair Daran Ponter said the appointment was exactly what the region needed. “John’s track record speaks for itself and he’ll know that there’s a real task at hand. We have COVID-19 to deal to and the challenge of building climate reality into the sustainable economic development of our region.” John will take up the role from 1 June.

I don't mind the banter. The personal abuse sometimes gets a bit tedious and doesn't serve any purpose.

Mehe I suggest you refocus. It isn't your call to tell someone to leave BOAY. You are also starting to consistently overstep the mark again. Remember what happened last time you did that.