2018 Annual Report

[RaceChat]

Just browsing thru  this  now.....A lot  of  things  covered  up  it  appears.....think  Enid Blyton  was  the  author  of  it

[Chief Stipe]

Read it here.NZRB 2018 Annual Report (FINAL).pdf

[Chief Stipe]

Notice the Group Equity has declined $20m in two years.

Net Loss after Distributions of $16m.

 

 

[Chief Stipe]

I'm surprised BOAY'ers are not commenting on this report.  Contrary to the media releases it aint a pretty result by any means.

[mardigras]

5 minutes ago, Chief Stipe said:

I'm surprised BOAY'ers are not commenting on this report.  Contrary to the media releases it aint a pretty result by any means.

Only had a quick glance myself - but I plan to comment. The initial read was that 'aint a pretty result' looks to be an understatement chief!

[Freda]

There has recently been an email inviting 'stakeholders' to yet another meet-and-greet with J.A.

What is the effing point?

[Mark D]

Can't find a media release etc.  Would seem to be the time to do so rather than the self congratulatory tweet from John Allen on 31/10/18 with no chance to check the veracity of it.  As I said at the time notable by the fact that he left out facts that are usually trumpeted by him and Hughes.  Ignoring the reality to promote a (false) perception.

 

John Allen‏ @NZRBJohnAllen Oct 31

 

 

Proud of the NZRB team for delivering another good result for racing and sport in the 17/18 season. Record distributions in a challenging climate with investment laying the foundations for further growth.

2 replies 2 retweets 16 likes

 

[NZRacing]

They have to be taking the piss

2017 Annual Report. The TAB is a major entertainment business with more than 190,000 TAB account-holders placing a bet this year

2018 Annual Report. The TAB is a major entertainment business with more than 230,000 active TAB account holders. RECORD CUSTOMER NUMBERS We have delivered a number of Customer and Channel initiatives which has seen the total number of active account customers betting with us during the year reach a record of 230,000, up 20% on last year. This is a phenomenal rate of growth for a wagering business that has gained the admiration of many of our international competitors

So 40,000 more account holders up 20% in 12 months yeah right, its not exactly equating to any increase in racing turnover is it. 

The best statement in the 2018 NZRB Annual Report 'Our Values be open' ha ha best joke of the year.

ANTI-MONEY LAUNDERING The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) requires that we have systems and controls in place to detect and deter money laundering and terrorism financing. Mitigating money laundering risks is not new for us. mmmm might be more to come on this one

As part of its focus on harm prevention and minimisation, NZRB works with industry partners on raising awareness of problem gambling mmm might be more to come on this one also

Current assets of $61.1 million have decreased by $16.7 million that's a worry especially when your bank overdraft is through the roof

[NZRacing]

Merchant fees of 4.5 million is a concern considering it was never there a few years ago. Charging a credit card fee on your customers to deposite is a joke. You want to be on equal footing with your Australian opposition guess what not one of 4 betting agencies overseas charge me a fee. So you quiet happily sting your customers millions to help cover up your poor efforts.  

[NZRacing]

I’m a serial failure – in the sense that I have done lots that has gone wrong - sadly & unfortunately some things never change

https://www.minterellison.co.nz/our-view/an-interview-with-john-allen-ceo-of-new-zealand-racing-board?fbclid=IwAR0WBVYqzAdi8McGWh3mfFT5oni2tLlqhfYOXZ06EVtdCzw3pQyh36xSwKc

 

[curious]

"I’m a serial failure" ....

We can see that John but you don't need to advertise it.

Why the racing industry would employ a "serial failure" in a key position so they can replicate their previous failures is beyond my comprehension.

Edited December 6, 2018 by curious