curious

Yeahh. No idea what they've done with that. Hopefully, it's work in progress.

Wouldn't that be handing Entain the whole NZ market on a plate? Can't see the likes of Ladbrokes or Neds giving it up.

Two different things I think but both would be better.

True. But that is also moot if Entain can't generate the revenue and there are signs of movement there from the likes of Sharrock.

They are keen on that but not going to sit around waiting by the sound of it.

Whether we did or not, it's moot. This is what we have now. It was certainly refreshing to hear from people in NZ racing who have an in depth knowledge of the wagering business and a track record of building those businesses. Also that they are going to tackle things like the overseas competition head on, not sit on their hands waiting for the government or someone to help.

There are no significant stakes increases in the forecast are there? Just sufficient funding to sustain current levels or a bit more for five years, then who knows. Entain say their projection is revenue increases by year 3 to cover the guaranteed amounts.

Correct

“I am pleased to confirm that because of the financial security afforded to the TAB by this announcement, the TAB have told me they will be able to remove their roughly 500 class 4 gaming machines from our communities. Given the existing sinking lid policy the government has on these gaming machine licences, this is significant.”

For heavens sake did you not listen to the ministerial announcement before commenting on it here. Yes. The licences are gone.

To the scrapheap where they belong.

"Yeah, well one of the things that I was concerned about and wanted reassurance of was that there were provisions in place to ensure that for whatever reason - it might be just at the end of the 25 year term - that the TAB would be in a position to pick things up. That’s a requirement in the agreement. So, I was satisfied at the conclusion that the TAB and Entain must make sure, that at any point, the TAB is in a position to be able to pick things up, if…whatever happens."

I'm reluctant to comment on this until we have further details but I think you and a number of others are barking up a tree here. Of course they wouldn't sign a 25 year contract without an exit strategy and I'm pretty certain that McAnulty said the other day that TABNZ can take back over at anytime during the period they see fit to do so? Whether or what exit arrangements Entain have is unknown to me.

And what's the bet that NZTR in their wisdom, with the increased funding for next season from the Entain deal, fritters it away on stakes instead of using it for capital investment in the crumbling infrastructure and providing a product that Entain can sell to punters.

Yes, I think any talk of a windfall is smoke and mirrors unless Entain can pull a rabbit out of a hat. Be interesting to hear what they have to say at their roadshow next week.

Go Reefton!

It isn't really earning anything after meeting its obligations to fund the codes is it? In recent times it has had to do even that by borrowing, grants etc. Entain or any other buyer still have to meet those same obligations and Entain has guaranteed to do so.

Looked more like a liability than an asset in recent years to me. If it were a big asset, you wouldn't give it away for $150m would you?

https://www.tabnz.org/racing-and-sport-win-big-tab-nz-strategic-partnering-arrangement

Oh. What is the withholding period?

Oops

There is one in my programme book for June 24 or have they belatedly halved the stakes for that one too like the they did the June 2 one?

I think Chris's time will come, probably when he officially hangs up his boots. His lifetime win record may still be higher then when the award is made. Possibly unassailable, especially considering the downward spiral and reducing opportunities for jockeys that NZ racing is providing.

https://youtu.be/aUDgaN6iHFc

Really? It's all over the news. https://www.americasbestracing.net/the-sport/2023-magical-kentucky-derby-venezuela-mage-scores-classic-upset