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Bit Of A Yarn

TAB ownership scheme....is it legal?


The Centaur

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The Racing Act spells out the functions of the TAB. Anything to do with racehorse ownership is NZTR function. Certainly deciding which trainers it will support is not a legal or fair use of TAB profits.

As well has the ownership thing been in the business plan?

RACING ACT

63TAB NZ must prepare business plan

(1)

Before the start of a racing year, TAB NZ must prepare a business plan relating to that racing year.

(2)

TAB NZ must consult each racing code in respect of its business plan.

(3)

However, subsection (2) applies in respect of a racing code only if there is no provision in any commercial agreement between TAB NZ and that racing code or all racing codes providing for consultation by TAB NZ with that racing code or all racing codes on the development of the business plan.

(4)

In carrying out consultation required under subsection (2) or by the commercial agreement referred to in subsection (3), TAB NZ must—

(a)

give each racing code a copy of the proposed business plan; and

(b)

provide each code with a reasonable period (not less than 15 working days) in which to provide comments to TAB NZ; and

(c)

meet with each code (or all the codes) to discuss any matters of disagreement.

(5)

TAB NZ must publish a copy of its business plan on an Internet site maintained by or on behalf of TAB NZ.

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1 minute ago, curious said:

It would hardly be in the NZTAB business plan would it? They are not paying for it. Entain is buying the yearlings and engaging and paying the trainers for the ownership club I think.

So why is it called the TAB Racing Club? If Entain wants to start a totally independent club then do it without digging into TAB coffers with special betting offers. Its a bit like supporting the local grocer with TAB offers because the TAB boss's wife shops there.

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Just now, Huey said:

Gee I wonder who the trainers will be .... 🙄

Specified to be high-profile and successful trainers who will give owners a great experience with excellent communication, stable visits, interaction with top jockeys, etc, etc....which probably leaves out most S.I based.   Maybe Carston?

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3 hours ago, Freda said:

Specified to be high-profile and successful trainers who will give owners a great experience with excellent communication, stable visits, interaction with top jockeys, etc, etc....which probably leaves out most S.I based.   Maybe Carston?

I'm sure you picked up I'm being facetious, we all know who they'll be.

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4 hours ago, Freda said:

Specified to be high-profile and successful trainers who will give owners a great experience with excellent communication, stable visits, interaction with top jockeys, etc, etc....which probably leaves out most S.I based.   Maybe Carston?

Well, you are high profile on here Pam, train at Riccarton and successful on the favoured AWT, and your communication skills appear to be excellent. They might surprise us all.

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1 hour ago, Huey said:

I'm sure you picked up I'm being facetious, we all know who they'll be.

I assume you are inferring Te Akau.  In my opinion it would be a mistake to align with this venture.  Their current model works just fine and pitches to a segment of the market that is distanced from the one this promotion is aimed at.

I'd be keeping a distance between them in the early stages.  Lots of fluff so far reliant initially on a money feed from Entain HQ and their Capital Investors.

Interesting reading this morning where their Poland takeover capital is being financed from.  A company built on Arab money and Russian contacts.

 

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10 minutes ago, Chief Stipe said:

I assume you are inferring Te Akau.  In my opinion it would be a mistake to align with this venture.  Their current model works just fine and pitches to a segment of the market that is distanced from the one this promotion is aimed at.

I'd be keeping a distance between them in the early stages.  Lots of fluff so far reliant initially on a money feed from Entain HQ and their Capital Investors.

Interesting reading this morning where their Poland takeover capital is being financed from.  A company built on Arab money and Russian contacts.

 

' A company built on Arab money and Russian contacts.'

Is this a cause of concern for ...you?

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I suppose there has been things like the "TAB sponsored driver" which is a bit unfair on other drivers but the TAB doesn't in that case tell the driver how to drive the race or which horse to drive.

This case means TAB employees getting involved and then having the CV to go out on their own competing against the "battlers" say as syndicators. There are plenty syndicators and trainers plus breeders willing to do business so why start competing against the "battlers" who don't have the billion dollar capital behind them.

This is another hair brained scheme like the Grand Tour which doesn't compute. Who has the time to figure all the odds options the "grand tour" throws up. 

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3 hours ago, Chief Stipe said:

I assume you are inferring Te Akau.  In my opinion it would be a mistake to align with this venture.  Their current model works just fine and pitches to a segment of the market that is distanced from the one this promotion is aimed at.

I'd be keeping a distance between them in the early stages.  Lots of fluff so far reliant initially on a money feed from Entain HQ and their Capital Investors.

Interesting reading this morning where their Poland takeover capital is being financed from.  A company built on Arab money and Russian contacts.

 

I was thinking of others actually , but youre right they could come into it.

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30 minutes ago, The Centaur said:

 

This is another hair brained scheme like the Grand Tour which doesn't compute. Who has the time to figure all the odds options the "grand tour" throws up. 

Agree , yet another needless flop for the industry. They just branded the partying and boozing ... whip de do!

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Can anyone remember back to the days when the clubs and NZTR would have been the ones to encourage people to get involved in racing, and the TAB's job was to conduct betting. 

I'm not really sure whether it is the TAB who have decided they should take over running everything, or whether the clubs and NZTR just can't be bothered anymore.

I suppose it is all progress. I suppose somewhere there is an analysis of the attendances and turnover for the grand tour events which shows that it has been a great success.  Perhaps there is another way they measure success?

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1 hour ago, Doomed said:

Can anyone remember back to the days when the clubs and NZTR would have been the ones to encourage people to get involved in racing, and the TAB's job was to conduct betting. 

I'm not really sure whether it is the TAB who have decided they should take over running everything, or whether the clubs and NZTR just can't be bothered anymore.

I suppose it is all progress. I suppose somewhere there is an analysis of the attendances and turnover for the grand tour events which shows that it has been a great success.  Perhaps there is another way they measure success?

Having seen how some of the younger crowd behave at race days I'm not sure why we fall over ourselves to get them to the races , apart from the obvious & that's getting boozed up and I've always thought that's a dead end street.

How outside of bar sales does it really contribute to the industry, any thoughts?

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3 hours ago, Huey said:

Having seen how some of the younger crowd behave at race days I'm not sure why we fall over ourselves to get them to the races , apart from the obvious & that's getting boozed up and I've always thought that's a dead end street.

How outside of bar sales does it really contribute to the industry, any thoughts?

I started going to the races as a uni student, but in those days you used to fit in with the racing crowd, rather than pushing them out and turning it into a piss up. I always used to attend for the racing not the piss up. I do think that was a more healthy approach.

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On 17/09/2023 at 9:09 PM, curious said:

It would hardly be in the NZTAB business plan would it? They are not paying for it. Entain is buying the yearlings and engaging and paying the trainers for the ownership club I think.

And Entain will want every bit of exposure that can be garnered.  They aren't, despite all the apparent largesse, a charity.  They are in to make money.  Given the superb track-in-the- making at Ellerslie, along with the new training facilities to be developed at Pukekohe, it seems pretty obvious to me that any new ownership enterprise will be based largely around that.

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On 18/09/2023 at 3:21 PM, Doomed said:

Can anyone remember back to the days when the clubs and NZTR would have been the ones to encourage people to get involved in racing, and the TAB's job was to conduct betting. 

I'm not really sure whether it is the TAB who have decided they should take over running everything, or whether the clubs and NZTR just can't be bothered anymore.

I suppose it is all progress. I suppose somewhere there is an analysis of the attendances and turnover for the grand tour events which shows that it has been a great success.  Perhaps there is another way they measure success?

You pose a good question. Seems TAB, NZTR getting into outside endeavours they know little about. NZTR was never supposed to be a publishing business. What should have happened is three codes along with Trackside and the old radio network combine into a single media company allowing some real experts to be employed.

Edited by The Centaur
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