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Everything posted by Chief Stipe
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Eden Park's grim financial future laid bare in report Todd Niall06:57, Jan 09 2019 The future of Eden Park Share Play Video CHRIS SKELTON/STUFF The debate around Eden Park is ongoing. Will it be a stadium of the future or the site of new housing? The country's premier stadium, Eden Park, could run up losses of nearly $80 million in the next decade. It also can't afford an estimated $62m of maintenance and upgrades needed over the next 10 years. The grim financial future for the central Auckland stadium was laid bare in a report by consultants Ernst and Young, obtained by Stuff. EY said the stadium's trust board probably wouldn't be able to pay even the interest bill on its almost $50m of loans in 2019 and the future hosting of major events could be at risk. The bleak assessment was commissioned by Auckland Council which has been considering, behind closed doors, whether to bail out the venue that hosted the 2011 Rugby World Cup final.SUPPLIED The financial clouds are darkening over Eden Park in a report by Ernst and Young. The council guarantees the repayment of Eden Park's $40m loan from ASB Bank, which is due to expire in October and which the trust has no means to pay. Eden Park's annual deficit was forecast to deepen this year to $8.2m from $6.8m, and EY didn't see an upswing likely in the future. The EY assessment of Eden Park's finances highlighted a cocktail of worsening factors which posed both financial and political challenges for the council. The most immediate was the financial hit, due this year, from a big cut in major sporting events at Eden Park. The stadium would host only one All Blacks test instead of two due to the Rugby World Cup in Japan, losing an estimated $1.4m in revenue. Only two cricket internationals would be hosted instead of the usual four, and there would be one fewer Super Rugby match. The partially one-off dip in major sporting clashes was just the tip of a financial iceberg which included the risk of declining revenue from other sources. The report said Eden Park management thought up to eight of 18 corporate suites may not be renewed after leases expired last October, with revenue forecast to fall to $3.6m in 2019 from $4.3m two years ago. Membership numbers are picked to fall by 99, with revenue falling $1.2m over two years. The cumulative effect is the stadium's revenue falling 14.7 per cent next year to $14.1m - 62 per cent lower than two years earlier. The evaporating cash flow is expected to hit "business-critical"maintenance such as replacing the turf at Eden Park, floodlighting and big video screens. "Should major capital expenditure projects remain unfunded, it may result in an inability for Eden Park to host major events," said EY. The floodlighting failed during testing prior to a day/night cricket match last March, and EY said management believed failure could recur without replacement, costing $5.6m. EY said the 15-year-old turf should be replaced every seven years, with an estimated bill of $1.5m. Some commercially-sensitive figures have been deleted from the report obtained by Stuff, but there is considerable detail highlighting the quandary facing Eden Park. The stadium is owned by a trust board. Five of its nine members are appointed by the government, with others appointed by the Auckland Rugby Union and Auckland Cricket Association. The five additional appointees were created when taxpayers pumped in $190m to revamp the stadium for the 2011 Rugby World Cup, but there is no ongoing Government involvement. "I'm vary wary about spending more on stadiums – because there are requests all around the country," Finance Minister Grant Robertson told Stuff in November. "The long-term Government position is that the Crown does not fund operating costs for regional stadiums." At the time of the RWC revamp, seven of Auckland's then-eight local bodies declined to contribute, forcing the trust board to raise the $40m loan which Auckland Council now guarantees. Eden Park also borrowed $6.5m from the council, which has no payback date. Auckland Council has declined to release documents on its own deliberations about how a bail-out of Eden Park might work. The council is understood to be close to considering paying off the trust's bank loan, but how it would then exercise influence of control over Eden Park's future is not yet clear. Stuff
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I clicked on the link below expecting a summary of the changes to the betting rules that coincide with the introduction of the "New" TAB website. Lo and Behold I don't get a summary but get a download of a 262 page pdf. Does anyone know what the changes are? https://www.tab.co.nz/punters/Info/news/changes-tab-betting-rules
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30 HOURS TO THE BIGGEST COCK UP BY TAB
Chief Stipe replied to TIME FOR CHANGE's topic in Galloping Chat
It is a new TAB inspired feature - makes it harder for YOU to make money. -
30 HOURS TO THE BIGGEST COCK UP BY TAB
Chief Stipe replied to TIME FOR CHANGE's topic in Galloping Chat
You could have used the potato peelings to make moonshine. -
30 HOURS TO THE BIGGEST COCK UP BY TAB
Chief Stipe replied to TIME FOR CHANGE's topic in Galloping Chat
So was that one of the "tweaks"? Not tested "mobile first"? I can see it now - "The TAB in association with SPARK are offering discount phone upgrades. Bring in your smart phone and upgrade to a 15 inch phablet." -
30 HOURS TO THE BIGGEST COCK UP BY TAB
Chief Stipe replied to TIME FOR CHANGE's topic in Galloping Chat
So it's a copy of something else with "a few tweaks" that has cost in excess of $50m? Paddy wouldn't be an Irishman would he? So more multis and betting options for mug punters. Obviously the odds will be done by computer because surely we can't afford more bookies. Or are we paying an ongoing operating license fee to Paddy? As for the race streaming that was an easy fix and nothing advanced about that at all. Shame they are not consistent with their HD on Trackside. -
30 HOURS TO THE BIGGEST COCK UP BY TAB
Chief Stipe replied to TIME FOR CHANGE's topic in Galloping Chat
Ok but why carry over the constraints? The site hasnt got improved performance and the user experience has not obviously been tested or more importantly designed from an average customer perspective. So essentially all they have done is built the same products on a "new modern technology stack" but in a way that is harder for the average punter to use. Oh and spend well North of $50 million to do so. If the performance is like it is today then come Melbourne Cup day watch out. It will be interesting to see if operating costs increase. I have a strong suspicion they will as the "new architecture" is resource hungry. -
Rule Number(s): 638(1)(d)Following the running of Race 4 (VETS ON RIVERBANK 1400), Information A12117 was filed with the Judicial Committee. It alleged a breach of Rule 638(1)(d) by Apprentice Jockey, Ms Jasmine Fawcett. The Information alleged that: ”Jasmine Fawcett (LO SCHIAFFO) allowed her mount to shift out near the 350m ... (RSS generated with FetchRss)View the full article
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Rule Number(s): 330(3)(a)Following the running of Race 1 (GARDNER HOMES 1200), Information A12116 was filed with the Judicial Committee. It alleged a breach of Rule 330(3)(a) by Class B Rider Z Moki in that she “broke a riding engagement for WHOZTHEBOSS without reasonable cause". Rule 330(3) states: "A rider shall not: (a) wilfully ... (RSS generated with FetchRss)View the full article
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30 HOURS TO THE BIGGEST COCK UP BY TAB
Chief Stipe replied to TIME FOR CHANGE's topic in Galloping Chat
New technology it may be but is it a game changer? Will it increase revenue and reduce costs? I think not. But from what I've seen this "new technology" has carried over many of the constraints from the previous system. Thankfully Melbourne Cup day is wee way off. -
Keep up the good tutorials BOAY'ers I might be able to invoice the TAB for our help desk service!
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Rule Number(s): 869(3)(b)Following the running of Race 5, the Night N Day Park & Morrison’s Saddlery Mobile Pace, an Information was filed by Stipendiary Steward, Mrs C Tibbs, against Open Driver Mr S McNally alleging that. “You Shifted inwards moving into the first bend when not clear of PACIFIC CHAL causing that runner along ... (RSS generated with FetchRss)View the full article
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Rule Number(s): 638(1)(d)Following the running of race 2, Fell Engineering, an Information was filed pursuant to Rule 638 (1)(d). The Informant, Mr Williamson, alleged that Mr Goindasamy allowed TAVLIN to shift in checking FRIDAY WOOLFE (M Cameron) who lost considerable ground near the 1300 metres. Rule 638(1) (d) provides: ... (RSS generated with FetchRss)View the full article
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Rule Number(s): 638(1)(d)Following the running of Race 4 (Farmlands Marton Congratulates Evan Dix on Turning 100), Information No. A12267 was filed with the Judicial Committee. The Informant alleged that Mr Innes allowed his mount IFFINDOUBT to shift inwards when not sufficiently clear forcing MISS CONTESSA inwards across the ... (RSS generated with FetchRss)View the full article
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Rule Number(s): 638(1)(d)Following the running of Race 1 (Bell Booth/ Plasma Biotec Premier), an Information was lodged by Mr N Goodwin alleging a breach of Rule 638(1)(d) in that D Bradley angled his mount ARIDITY outwards when not sufficiently clear of VIKTOR VEGAS which was checked near the 100 metres. Mr Goodwin had Mr Oatham ... (RSS generated with FetchRss)View the full article
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Rule Number(s): 869(2) and Use of Whip RegulationsAn information was filed by Stipendiary Steward, Mr Munro, against Mr Kyle, the driver of LADY ZARA in race 5, THE GATE CROMWELL / OSBORN ENGINEEERING TROT alleging that he used his whip on more occasions than permitted in clause (b) of the Use of the Whip Regulations. Rule 869 provides as follows: (2) ... (RSS generated with FetchRss)View the full article
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30 HOURS TO THE BIGGEST COCK UP BY TAB
Chief Stipe replied to TIME FOR CHANGE's topic in Galloping Chat
Slower and harder to navigate than Racecafe. -
Rule Number(s): 864(2)(d)Following the running of Race 4, the Brendan Hammond Building Contractors Mobile Pace, an Information was filed by Stipendiary Steward, Mr S Renault against Public Trainer, Mr G Smith, alleging a breach of Rule 864(2)(d) in that he, as trainer of GOD ONLY KNOWS, failed to securely affix the front hopple ... (RSS generated with FetchRss)View the full article
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Rule Number(s): 642(1)Following the running of Race No 6, the Versatile Homes 1400, an Information was filed Instigating a Protest pursuant to Rule 642(1). The Informant, Apprentice Rider Mr D Danis, alleged that horse number 1 (MORRIE OCK) placed 1st by the Judge interfered with the chances of horse number 4 (ITS DESTINYS ... (RSS generated with FetchRss)View the full article
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Rule Number(s): 869(2) and Use of Whip RegulationsFollowing the running of Race 6, the Cutts Above Roofing Mobile Pace, an Information was filed by Stipendiary Steward, Mr S Renault against Licensed Open Horseman, Mr B Butt, alleging a breach of Rule 869(2) in that he used his whip on more occasions than permitted by Clause (b) of the Use of the Whip ... (RSS generated with FetchRss)View the full article
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Rule Number(s): 869(3)(b)This charge arose from Race 1, the Grass Track Racing @ Te Aroha January 12 Mbl Pace 2200m. Mr Mulcay submitted an Information alleging that Junior Horseman, Mr N Delany 'drove carelessly early in the run home when allowing his mare (WHATCHAGOT) to shift down inside the marker line'. Mr Delany was present ... (RSS generated with FetchRss)View the full article
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Can someone confirm did he pass away today?