curious

https://nztr.co.nz/sites/nztrindustry/files/2025-08/NZTR SOI 2026-28.pdf

NZTR Announces Strategic Restructure and Leadership Changes New Zealand Thoroughbred Racing (NZTR) has today announced a strategic restructure of its leadership team, following a comprehensive review of its management structure to better align with the strategic priorities for the 2025/26 season and beyond. Following this review, NZTR has disestablished the roles of Chief Operating Officer (Darin Balcombe), Chief Customer Officer (vacant), and Head of Marketing, Communications and Wagering Partnerships (Dan Smith). In their place, four new senior leadership roles have been created to reflect the evolving needs of the industry: · General Manager – Racing · General Manager – Welfare & Industry Capability · General Manager – Strategy & Transformation · General Manager – Brand Experience, Communications & Industry Promotion “These changes reflect feedback we have received from industry participants about the need to enhance our leadership capability and sharpen our focus on delivering better outcomes,” Ballesty said.” “Bold change is the theme of our strategic focus going forward and this restructure is a key part of enabling that.” Under the revised structure, NZTR is pleased to announce that Dan Smith, previously Head of Marketing, Communications and Wagering Partnerships, will move into the newly created position of General Manager – Strategy & Transformation, a role pivotal to driving implementation of the Strategic Plan with urgency, accountability, and focus. “Congratulations to Dan on this well-deserved appointment,” Ballesty said. “His leadership, industry insight and strategic experience make him the right person to lead this important area of work.” The organisation also acknowledged the longstanding contribution of Darin Balcombe, who will continue to serve as Chief Operating Officer until October while remaining Acting CEO of HBRI. “NZTR is working closely with Darin to explore a future role that harnesses his extensive experience and deep knowledge of the racing industry,” said Ballesty. “I would like to acknowledge Darin’s significant contribution to NZTR as COO and we will continue to work with him through this transition.” The remaining General Manager roles will be advertised at careers.loveracing.nz and shared through wider industry channels in the coming days. “These changes are about building the right leadership framework to deliver on our ambitions,” Ballesty added. “With several exciting initiatives already underway, I am confident that with the right people in the right roles, we are well-positioned to deliver for our participants and the wider industry in the years ahead.” Corporate Communications New Zealand Thoroughbred Racing nztrcommunications@nztr.co.nz

I don't know ANYTHING other than what they stated. The intention is what I said above and the funding is to come from the sales of surplus assets. As requested, please explain if you know something otherwise that I don't.

Sorry @Huey, you've completely lost me. It seems the clear intention is to establish an investment fund to supplement wagering generated revenue from TABNZ to support the industry. I've no clue where the money for that might come from but I also have no idea what you think I may have said elsewhere to the contrary. Please explain and maybe tell us what you think we are missing about the purpose of the fund.

No. That's really my point. What matters is the performance of Entain in NZ, at what level that will then fund NZ racing from 2028, and if that is at a much lower level as seems likely, how NZ racing will manage that.

That story is also 6months or more old. Investors don't currently seem too concerned. The share price has more than doubled in the last 12 months.

That's over 6 months ago! A lot has happened since then.

I'm mystified too @Huey You think the intention is something other than what they stated?

The matter was to be resolved beforehand or go to mediation by August 4 and if that failed they had till September 12 to file a response to the federal court. As far as I'm aware, no outcomes have been reported yet by either party. Do you know something that the rest of us don't?

It's not Entain NZ that faces any fine here. The company has a market capitalisation of 6.45 billion GBP and an EBITBA last year of £1,089m. I don't think a few A$100ms in fines is going to change anything much.

I fail to see how the outcome could possibly have any impact on NZ racing?

NZTR Strengthens Track Advisory Programme with VRC Partnership New Zealand Thoroughbred Racing (NZTR) has announced significant enhancements to its Regional Track Adviser (RTA) Programme for the 2025-26 racing season, including a partnership with the Victoria Racing Club (VRC).https://bitofayarn.com The VRC and its Head of Racecourse, Liam O’Keeffe, will now support NZTR and racing Clubs across New Zealand. VRC Head of Racecourse, Liam O’Keeffe Providing turf consultancy services for an average of five days per month, the partnership will deliver knowledge sharing across maintenance and renovation planning, construction and turf management, track inspections, audits, and raceday surface preparation. The partnership is designed to share international best practices and elevate track management standards across New Zealand. “The VRC is thrilled to provide turf expertise to NZTR Track Managers, sharing our insights into the world-class standard of Flemington Racecourse,” said Leigh Jordon, Chief Racing Officer at the VRC. O’Keeffe will consult with Regional Track Advisers, as part of a partnership that reflects NZTR’s commitment to strengthening track infrastructure and improving surface consistency across all racing venues. NZTR Chief Executive Officer Matt Ballesty commented on the appointment. “Bringing in the expertise of the VRC and Liam is a major step forward for our track programme, and the partnership is about strengthening local talent and addressing the areas where we know improvement is needed.” “We’re fortunate to have experienced and highly skilled Track Managers across the country, and Liam will work alongside them to provide additional support, share international insights, and help us continue lifting standards nationally for the long-term benefit of the industry,” Ballesty said. The RTA Programme continues to serve as a critical support network for Club Track Managers. While Track Managers remain responsible for delivering a safe racing surface, RTAs provide mentoring and advisory support and meet regularly with NZTR to plan and review upcoming racing activity. 2025-26 Track Adviser Club Assignments · Jason Fulford (Auckland Thoroughbred Racing) – Avondale JC, Racing Te Aroha and Whangarei RC. · Bart Cowan (Waikato Thoroughbred Racing) – Matamata RC, Racing Rotorua, Racing Taupō and Racing Tauranga. · Jamie Phillips (RACE Inc.) – Foxton RC, Hawke’s Bay RI, Ōtaki-Māori RC, Waipukurau JC, Wairarapa RC and Woodville-Pahiatua RC. · Colin Cromarty (Waverley Racing Club) – Egmont RC, Taranaki TR and Wanganui JC. · Alan Chapman (Canterbury Jockey Club) – Ashburton RC, Greymouth JC, Kumara RC, Reefton JC and Timaru JC. · Wayne Stevens (Otago RC) – Central Otago RC, Gore RC, Kurow JC, Oamaru JC, Riverton RC and Southland RC. https://bitofayarn.com Corporate Communications New Zealand Thoroughbred Racing nztrcommunications@nztr.co.nz New Zealand Thoroughbred Racing 18 Dick Street, Cambridge 3434 Email: office@nztr.co.nz Tel: 0800 946 637 NZTR.CO.NZ Unsubscribe

Doesn't a 50% cost subtracted from 100%, leave 50% gross in the Entain accounts?

I'm sure it would be, maybe a reduction in gross profit or maybe an operating expense. Not quite sure, but certainly deductible before EBITDA.

"The Entain–TAB NZ partnership is based on a 50/50 share of Gross Betting Revenue (GBR)—that is, wagering turnover minus customer payouts—with Entain covering all operating and marketing costs, meaning the profit split occurs before expenses."