NZTR Establishes Industry Investment Fund to Secure Racing’s Future

[Brodie]

14 minutes ago, Chief Stipe said:

@Brodie all well and good instincts theory but the fact is an insolvent business that has had to be bailed out by the taxpayer isn't actually worth that much.  

$900m paid up front then invested at 10% as you say returns $90m a year which would need to be spent on upgrading infrastructure, funding operational costs and what was left distributed in stakes.  That would have been a significant drop in what was paid to the industry trainers, jockeys/drivers and owners.  Then of course if you are using all your 10% you are not keeping up with inflation and your capital is losing value.

Then of course no one would have paid $900m up front AND distribute profits from TAB revenue.

 

Without knowing the full details of the deal, It would appear that Entain will do quite nicely out of it!

900million is a drop in the bucket for a big gambling outfit and they were given a 25 years term which would be unheard of in any commercial business deal!

Who is to say that once the 5 years is up they dont flog it off to another gambling agency for a massive profit as we are not privy to any real details.

Still maintain that we wouldve been far better to have done a deal with someone other than a sports and gambling outfit as racing is not their thing.

Edited 5 hours ago by Brodie

[Chief Stipe]

4 minutes ago, Brodie said:

Still maintain that we wouldve been far better to have done a deal with someone other than a sports and gambling outfit as racing is not their thing.

Racing IS a Sport funded by gambling.  Which companies in the world would have been better?

[curious]

1 hour ago, Brodie said:

Anyone know what has happened to the Committee?

What committee?

[Chief Stipe]

Just now, curious said:

What committee?

I think he means the committee aligned to TABNZ with Vela and co on it.

[Brodie]

35 minutes ago, Chief Stipe said:

Racing IS a Sport funded by gambling.  Which companies in the world would have been better?

One of the TAB’s in Oz?

[curious]

51 minutes ago, Chief Stipe said:

I think he means the committee aligned to TABNZ with Vela and co on it.

Oh ok thanks. Nothing to do with Entain/TABNZ then.

[Chief Stipe]

16 minutes ago, curious said:

Oh ok thanks. Nothing to do with Entain/TABNZ then.

Certainly not ENTAIN.  But possibly TABNZ.

[curious]

9 minutes ago, Chief Stipe said:

Certainly not ENTAIN.  But possibly TABNZ.

Sorry meant Entain NZTAB.