Racing club's $750k punt, guess who? :)

[Murray Fish]

Racing club's $750k punt that's still paying out 17 years on

“It is a big outlay, and a risk, because it is too expensive to insure against a loss, so if we slipped on a banana skin, it could be catastrophic."

 

Logan Savory

Dec 10, 2025

 

 

 

Southland Racing Club president Sean Bellew says its annual Christmas at the Races meeting costs the club $750,000 to put on.

That’s a number not for the faint-hearted, let alone a small sporting club with limited resources.

“It is a big outlay, and a risk, because it is too expensive to insure against a loss, so if we slipped on a banana skin, it could be catastrophic,” Bellew says.

“We haven’t had an abandonment at Ascot Park for over five years, and I don’t want to tempt fate.

“I have so much confidence in our track manager and his protocols.”

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Year after year, for 17 years, the public has continued to turn up in big numbers and remains the Southland Racing Club’s “hay-making day”, in terms of the money it brings in.

Bellew says on a good day, Christmas at the Races provides about a $120,000 in profit for the club, with the majority of that coming from the hospitality offerings, rather than punting.

“I would say that 40% of the people there have their backs to the track. They are there catching up with friends and family.

“We expect that and understand that. We don’t expect to convert 100% of them into race participants.”

That $120,000 or so profit that is made from the Christmas at the Races meeting is vital in helping prop up the club for the rest of the season.

It is used to help fund a portion of the club’s stake money at other meetings.

That it is important for the health of the southern thoroughbred industry, Bellew says.

 

 

Southland Racing Club president says profits from Christmas at the Races help boost the club’s stake money for the rest of the season.

There are 3500 pre-booked tickets for this Saturday’s Christmas at the Races meeting, including those in close to 100 marquees.

“It just never gets old… I would have thought it would work its way through its shelf life, but we keep working away at it, and it manifests in front of you each year.”

“It’s been 17 years, and it keeps staying at capacity.”

Why does Bellew believe Invercargill’s Christmas at the Races has held onto its appeal for so long?

“It’s the colour and the pageantry. I think it’s the glamour… I watch people walk onto the course, and they have put in a huge effort.

“It is the best-dressed public event in Southland… We are talking glitz and glamour.”

 

 

Southland Racing Club president Sean Bellew believes it’s the glamour attached to Christmas at the Races which is why the event has remained popular for 17 years.

The event doesn’t just provide the racing industry with a handy financial boost; it is also an economic winner for the city as a whole.

Last year, only Stag Day surpassed Christmas at the Races, as far as an ILT trading day.

“We’d have to inject seven figures into the economy, because you’ve got to buy a dress, then you get your makeup done, and your hair done, and fake tans, and of course the boys follow and buy a shirt and a tie,” Bellew says.

Race 1 on Saturday is scheduled for 12.40pm, which is the first of nine races.

The last race of the day is scheduled to jump at 5.20pm.

[Chief Stipe]

42 minutes ago, Murray Fish said:

Southland Racing Club president says profits from Christmas at the Races help boost the club’s stake money for the rest of the season.

Why put it into stakes when there is a shortfall in maintenance and/or rainy day fund?

[curious]

14 minutes ago, Chief Stipe said:

Why put it into stakes when there is a shortfall in maintenance and/or rainy day fund?

Is there?

[PeterLambFan]

1 hour ago, Chief Stipe said:

Why put it into stakes when there is a shortfall in maintenance and/or rainy day fund?

Put a bit aside each year to self insure incase there is an abandonment one day. 

[Freda]

How do you know they don't?

[Murray Fish]

1 hour ago, Chief Stipe said:

Why put it into stakes when there is a shortfall in maintenance and/or rainy day fund?

I be thinking that they actually have that sort of thing covered!

I believe the next big challenge is the closing down of the Dogs,  various people worked across the codes, the unbidden from that is still to play out...

[Chief Stipe]

4 hours ago, Murray Fish said:

I be thinking that they actually have that sort of thing covered!

I believe the next big challenge is the closing down of the Dogs,  various people worked across the codes, the unbidden from that is still to play out...

 

6 hours ago, curious said:

Is there?

Yes.  Look at the consortium accounts.  They are heavily reliant on the Greyhounds and Harness.

[PeterLambFan]

4 hours ago, Freda said:

How do you know they don't?

I don’t know that. Be great if they already are. 

[Special Agent]

What a great job Southland are doing!  After 17 years it's still a party and a raging success.  What makes the southern shindig inferior to Riccarton's leg of the Grand Tour?  This club knows what it's customers want, and prepared to pay for.  They are engaging with the community, which is not what happens at Trentham or Ellerslie.

When Ascot Park loses it's title of the only track in NZ to host all three codes I hope they can find a profitable use for the inside of the two remaining racing surfaces.  Does anyone have any ideas what the greyhound track area could be used for?  Velodrome, pony races, dog walking, athletics, retired greyhound sanctuary, something equestrian, pony livery/pony club/riding school, trackwork rider and apprentice school ???

[Murray Fish]

1 hour ago, Chief Stipe said:

 

Yes.  Look at the consortium accounts.  They are heavily reliant on the Greyhounds and Harness.

They know all about 'cutting their cloth to suit!',  one of the D Bros was proud to tell me that they had brought land elsewhere! They are very aware of their connection to their local community!  lol, they still have plenty of land they can sell off! the are privileged where the track is!   Easy my Fav Club!  When were you last their @Chief Stipe  'we' are planning to be on course there for their Big Cup meeting in Feb!

 

[mikeynz]

How do they come to the figure to host this raceday, if it cost SRC that much, what does it cost others?

Edited 15 hours ago by mikeynz

[Special Agent]

13 hours ago, mikeynz said:

How do they come to the figure to host this raceday, if it cost SRC that much, what does it cost others?

Exactly mikey.

The SRC is a racing club where the core business is racing.  How many other clubs have 100 marquees/tents pre-sold for a race meeting?  To me the $750K, even though like Sean said was originally a huge risk, is a real investment into their event.  The fact that their profit of $120K goes into stakes speaks volumes, and is exactly what NZTR has asked of clubs for a long time now.  How does anyone  know that none of that profit, or money gained by other means, doesn't go into track maintenance?

A balance sheet is not the whole story either.  There are many factors making up a club's existence.  It is easy to make assumptions from what you see from the outside.  I can relate such perceptions of the most successful jumpouts in the country.  Yes, other entities would like a share of the profits.  The overheads to run any successful event are usually substantially more expensive than most would envisage.  You have to speculate to accumulate.

Congratulations Southland.  What an example to other clubs!

[mikeynz]

Be interesting to see what impact no dogs has on the accounts for SRC, think they are fortunate to have the trotting club, be very different without them, but each code needs to support each other, not sure if that's the case in some places, one ignorant arsehole when Otaki had a meeting put off blamed the harness racing a few weeks earlier on it as the reason, probably didn't factor in the dollop of rain a day or two before raceday, some ignorant arseholes around sometimes.

Edited 1 hour ago by mikeynz

[Chief Stipe]

1 hour ago, Special Agent said:

The fact that their profit of $120K goes into stakes speaks volumes, and is exactly what NZTR has asked of clubs for a long time now.

But it is the wrong thing to do.  It has been proven beyond doubt that increasing stakes does NOT increase participation.

1 hour ago, Special Agent said:

How does anyone  know that none of that profit, or money gained by other means, doesn't go into track maintenance?

There is no indication in their annual accounts that it goes to the maintenance of core racing infrastructure.  Certainly not enough does nor is enough profit put aside.

1 hour ago, Special Agent said:

A balance sheet is not the whole story either. 

It should be the main story.  I'm afraid though most committees have no idea how to manage a balance sheet and inevitably end up spending money on the wrong activities e.g. bolstering stakes.

1 hour ago, Special Agent said:

I can relate such perceptions of the most successful jumpouts in the country.  Yes, other entities would like a share of the profits.

If you are talking about Levin well congratulations on "the most successful jumpouts in the country".  However you are deluding yourself if you think that Levin is making sufficient proft to maintain their assets.  Especially when you take into consideration the sale of land to sustain themselves plus the raceday subsidisation by the Otaki Maori Racing Club.

1 hour ago, Special Agent said:

The overheads to run any successful event are usually substantially more expensive than most would envisage.

Never a true word.

1 hour ago, Special Agent said:

You have to speculate to accumulate.

Congratulations Southland.  What an example to other clubs!

Therein lies the conundrum.  They aren't accumulating they are redistributing as Stakes.  They are taking the risk with their speculation that the track will always perform yet they are not accumulating to maintain that asset.

[curious]

53 minutes ago, Chief Stipe said:

If you are talking about Levin well congratulations on "the most successful jumpouts in the country".  However you are deluding yourself if you think that Levin is making sufficient proft to maintain their assets.  Especially when you take into consideration the sale of land to sustain themselves plus the raceday subsidisation by the Otaki Maori Racing Club.

Not sure what you are talking about. The Levin Racing Club doesn't run the Levin jump-outs.

And you have still failed to quantify how much you think Otaki is subsiding Levin's race days though you keep bringing it up.