sarge

The 5 year funding guarantee is propping up the distribution to the 3 codes by approx $30m/year.This is the estimate by Grant Thornton who, under S60 of The Racing Act, were appointed to complete a 5 yearly Performance and Efficiency audit. Their report, which was published by the TAB in September last year, say that the TAB at the point of audit had 12 staff plus a Board of 6 directors. The report flagged a shortfall of funding to the TAB versus income Entain were actually making was approx $31.8m (per the attached note.) Assuming that greyhounds don't contribute a significant amount of GBR then this would have an impact to NZTR of approx $20m/year and to HRNZ of approx $10m/year. The full geonet impact is still a year away from being reported and should hold some upside. NZTR's annual report said that the geonet had been in place for one month when their report was done. Entain's new Australian CEO said that this gap was "closing" when asked by Mick Guerin last last year. Realistically the only lever saving that magnitude of money, would be via a stakes reduction.

Interesting updates Bill. A great move by Entain/the TAB although not quite a flick oi the switch. Some background from late last year. "TAB NZ provided some funding to Racing NZ to improve connectivity at various racing venues. Racing NZ then worked with Entain and it was agreed to provide a wifi solution at all race meetings at the 15 x Thoroughbred and Harness tracks where the domestic mobile network coverage was assessed as 'poor'. The solution at the 'poor' venues is an onerous and costly solution, which involves significant labour even once fixed wiring is installed...." One would think that wifi will be on RCP's infrastructure checklist.

Are you understanding the full business model Brodie? My estimate is that roughly half a billion $ has been pissed against the wall since the new Racing Act was introduced in 2003. Poor changes at the TAB , poor employment choices at both the TAB and code level and some super dumb deployments of projects, both at the TAB and code levels. Entain has another 22 years or so to go. There’s a contract in place and they will milk as much as they can until their contract ends/or they on-sell. From your own perspective Brodie, Entain will always have restricted punters. You’re successful and at least 20 others that I know are also restricted. It’s bs really - the limit should be on the bet size not the bet prize. As for HRNZ - their part in this jigsaw doesn’t have a casting vote as they’re perfunctory only, in any Entain decision. So whether some meetings or venues do better than others,that’s their decision. On the bright side….we ain’t in China so at least we can at least have a bet!

Land owned by clubs that’s not critical for racing and is cashed up. However you can only sell land once. Many years back the then CEO of Ellerslie said that their biggest mistake was selling land versus being the landlord. Addington is an outlier in that it’s all commercial plus they’re in a jv with others.It’s been messy and poor thus far however time will see it ultimately reap dividends. Not many clubs own their land and few have sold well -often the symptom of committee led decisions who were risk averse. Well meaning people who in real life had zip experience in such commercial matters. For clarity Riccarton have never owned their land. It is owned by a Trust set up in the 1800’s and proceeds of the recent sale on part of their land to Ngai Tahu gives that Trust $20m or so to then utilise.

Mea culpa. 17 specific accounts is damning. They’re foreigners and have form in multiple other jurisdictions. Their $100m provision reported in August this year looks unders…..

Committees are for the patient. A long time ago Ray Coupland got onto the CJC's committee. It was too slow, in terms of "doing things now" for him, and he quickly exited.

Opening up Fridays and Saturdays restrictions from winning a max of $2k to $5k per bet helps. Still disappointed they simply don’t go 7 days a week with this limit - do they take a bath on these days?

BGP came out of nowhere and have been a positive for racing. News stories on mainstream media showing racing in a fun and positive light. All of the marketing dollars available to The TAB couldn’t drum up what BGP achieved. Did the TAB allow them to place outrageous bets - yes. Did Ellerslie and other Clubs open their arms willingly to get their participation - yes Bottom line for mine is that sceptics bark loud however BGP attracted new participants to racing whether that be punting,owning or simply participating in something they’d never done previously. Who else is actively encouraging this type of involvement successfully ?

Ha…yes😏

Had a small dabble today and completely forgot the restrictions around the increased allowances - Friday and Saturday only. Why? Opening it up 7 days a week you'd like to think would be straight forward.

Reads as if AFR’s source was BETr’s PR dept wanting to ensure their share price remained propped up…..

New legislation upcoming Online Casino Gambling Bill 15 Licenses and Entain's application given the thumbs down for being one of these. No harness/greyhound/sports compoment allowed. What % of gaming $ will this grab off Entain? Does have an outcome roll on in terms of their 50% profit share in 2028

Punt on this woud be that the funds come from the one off $100m Entain pays the TAB for the geo-fence legislation $20 mil goes to sport up to $40 mil goes to re-homing The rest $40 mil gets shared between the TAB and the 2 equine codes. Therefore Project Stamina launched. Have the two codes ever held hands?