October Entain numbers

[Chief Stipe]

13 minutes ago, Huey said:

I'm guessing it'll be down again , but isn't it one of their strategic priorities to fix that?

Guessed you wouldn't have a clue.

[Huey]

38 minutes ago, Chief Stipe said:

Guessed you wouldn't have a clue.

Oh so you know, well let us know the numbers . I'm intrigued , do you also know what the clown show is doing to fix the decline?

[hesi]

As the last foals come through first week of December, I presume no stats would be available till early next year

 

Owners must notify Stud Book of the birth of a foal within 30 days of the birth

 

[Special Agent]

3 hours ago, Huey said:

Only fools would believe the assets or funds will  be put to good to use

This is a real concern.  It definitely depends who is in charge of investing.  We've all heard the talks and hype, on the back of an overseas entity taking over the NZ Racing Industry.  There are trust issues for me.

[Chief Stipe]

4 minutes ago, Special Agent said:

This is a real concern.  It definitely depends who is in charge of investing.  We've all heard the talks and hype, on the back of an overseas entity taking over the NZ Racing Industry.  There are trust issues for me.

Which Overseas Entity have taken over the NZ Racing Industry?  Certainly isn't ENTAIN.  But if you mean ENTAIN telling NZTR and HRNZ what product they need and when then that conversation was long overdue.

[hesi]

27 minutes ago, Chief Stipe said:

Which Overseas Entity have taken over the NZ Racing Industry?  Certainly isn't ENTAIN.  But if you mean ENTAIN telling NZTR and HRNZ what product they need and when then that conversation was long overdue.

If you put up a billion dollars over 5 years, would you be having the major say in how racing is run

[Huey]

4 minutes ago, hesi said:

If you put up a billion dollars over 5 years, would you be having the major say in how racing is run

So that gives you the right to steal assets   , because some entity put up $1bn?

[Chief Stipe]

1 hour ago, hesi said:

If you put up a billion dollars over 5 years, would you be having the major say in how racing is run

Yes especially if your revenue depends on the quality, placement and promotion of the product.

[Chief Stipe]

58 minutes ago, Huey said:

So that gives you the right to steal assets   , because some entity put up $1bn?

Who's "stealing assets"?  How were the assets accumulated in the first place and where are they now best positioned?  Racing horses is the aim.  

[hesi]

It can't be stealing assets

The Racing Act was amended in 2020 to allow the code (NZTR) to declare a club surplus and legally acquire title

[hesi]

38 minutes ago, Chief Stipe said:

Yes especially if your revenue depends on the quality, placement and promotion of the product.

I'm surprised Entain has not got a lot more forceful, perhaps it has, perhaps that is why Bruce Sharrock left after the ongoing problems with tracks under his watch

[Murray Fish]

1 hour ago, Chief Stipe said:

Who's "stealing assets"?  How were the assets accumulated in the first place and where are they now best positioned?  Racing horses is the aim. 

Over the years I have been involved with quite a few IncSoc, set up a few! A standard rule has usually been that 'on ending',  any reserves go back into that local community! To me, most tracks started of and grew through there relevance to their local community! Most have had nice relationships with their local councils and have kosher agreements around rates.  (read locals have invested in the track..)  rave over..

 

36 minutes ago, hesi said:

It can't be stealing assets

The Racing Act was amended in 2020 to allow the code (NZTR) to declare a club surplus and legally acquire title

sigh, refer to my post above!!  I will share this with you! Over the last few years I have made the effort to speak to various 'committee people' from Tracks that have been label 'gone', just about, and this is still happening, feel that communication around this topic is very flawed! To be Told that they can be sold up and their assists taken strikes deep! Watch the Lawyer$ getting involved when and if certain tracks/clubs get liquidated! 
 

ps. by chance!  I have a spare Race Course! out Avondale way! 200mil and its yours! got a harbor bridge going cheap to!

[Special Agent]

59 minutes ago, Murray Fish said:

Over the years I have been involved with quite a few IncSoc, set up a few! A standard rule has usually been that 'on ending',  any reserves go back into that local community! To me, most tracks started of and grew through there relevance to their local community! Most have had nice relationships with their local councils and have kosher agreements around rates.  (read locals have invested in the track..)  rave over..

Absolutely Murray.  I think you will find many Racecourses were gifted to Racing Clubs by someone, a family or group in their community.  That's where the property should go back to.

[Brodie]

Chief it isnt three years to go, it is 2 and a 1/2.

Not sure how the thoroughbreds are going with the extra money from Entain, but it would be odds on that Harness stakes are going to be crucified in the next year or so!

Unfortunately you can not powder coat what is going on at the moment.

[Newmarket]

How will they replace the millions lost  next year without the NZ  dogs? Anyone heard? 

[Chief Stipe]

1 hour ago, Brodie said:

Chief it isnt three years to go, it is 2 and a 1/2.

You split hairs over 6 months?

[hesi]

To split hairs, it is 2 years and 8 months

[Huey]

4 hours ago, hesi said:

It can't be stealing assets

The Racing Act was amended in 2020 to allow the code (NZTR) to declare a club surplus and legally acquire title

Rubbish !

So long as we know where you turncoats stand.

[Huey]

4 hours ago, hesi said:

It can't be stealing assets

The Racing Act was amended in 2020 to allow the code (NZTR) to declare a club surplus and legally acquire title

They certainly don't belong to an industry that has done all it can to run these entities into the ground.

Was all the work someone from the committee did because @Chief Stipe wouldn't get off his proverbial to help worth nothing?

[Brodie]

1 hour ago, Chief Stipe said:

You split hairs over 6 months?

Yep, when you have been around as long as we have, 6 months means a lot!

This year has just disappeared so quickly and so the 2.5 years is going to come around very quickly.

Chief, have you got the confidence in the current CEO and others making decisions that they have enough business acumen??

[Chief Stipe]

10 hours ago, Huey said:

They certainly don't belong to an industry that has done all it can to run these entities into the ground.

@Huey when will you grasp the concept that the Clubs ran themselves into the ground.  There was never enough revenue to fully fund them.  

When your wife stopped baking cakes for the stall and you broke the chocolate wheel and hung up the paint brush then ground rushing up was inevitable.

If you want evidence from another jurisdiction just look across the ditch where State Governments poured 100's of millions into racing to keep them afloat.

Now the fundamental question is should the assets acquired on the backs of gifts and volunteers be retained in racing or given to current members?

Do you want racing to continue provincially or would you rather in an act of churlish spite give the finger and see racing gone completely?