Chief Stipe Posted October 6, 2022 Share Posted October 6, 2022 TAB NZ Trading Performance Update - August 2022 www.tabnz.org TAB New Zealand (TAB NZ) provides the first monthly trading update for the 2022/2023 financial year, with the results and highlights for August 2022. The TAB continued to operate through its online and retail channels throughout August. While the Omicron outbreak continued to be a presence and factor, New Zealand remained at the Orange setting in the Covid-19 Protection Framework with retail and hospitality operating through the month. Turnover was down against budget in August, as was gross betting revenue (GBR) and gross betting margin (GBM). A combination of ongoing factors have contributed to August’s result, including the continuing soft economic conditions that impact our customers’ discretionary spend, mask restrictions in retail venues through the month deterring a section of customers from visiting, and race meetings being abandoned due to weather. August once again saw a drop in starters across all three racing codes, maintaining a trend that began in April. Operating expenses were slightly up on budget in August due to restructuring costs, and investments in customer retention and acquisition. The Board will continue to factor in potential developments in New Zealand’s response to Covid-19, the current domestic and global financial climate, and the potential impact of any further ongoing trend of a drop in starter numbers as it assesses future distributions in the 2022-23 financial year. Wagering Performance Summary In August, the first month of the 2022/23 financial year, key performance results for TAB NZ were slightly down on the overall positive trends of the previous financial year. Turnover of $197.9m was 5.8% ($12.3m) below budget. GBR of $31.5m was down on budget by 6.0% ($2.0m) and GBM of 15.9% was 0.1 percentage points below budget. Racing Average NZ thoroughbred starters per race in August was 10.3, slightly below the FY22 average of 10.6, while the peak turnover for a domestic meeting was $2.4m on 27 August for the Waikato Stud Foxbridge Plate Raceday at Te Rapa. The average starters per harness race in July was 9.1, below the FY22 average of 10.2, while the peak meeting turnover of $0.95m was on 12 August at Addington. For greyhound racing, the average starters per race in August was 7.4, slightly below the YTD average of 7.6, while the peak turnover for a domestic meeting was $423k on 18 August at Addington. Sport The top 3 sporting events by turnover for August were the All Blacks test against Argentina ($0.98m) followed by the two All Blacks tests against South Africa ($0.7m and $0.8m). Tennis was the leading in-play sporting code accounting for 22% of in-play turnover while Rugby League was the top pre-match singles sporting code accounting for 32% of pre-match turnover. August Operational PerformanceReported Profit for the month was $10.4m, which was $1.4m below Budget.Operating Expenses were $10.5m for the month, which was $0.3m above Budget. August Distributions Racing Codes were paid $12.4m in distributions and other payments for August, versus $12.3m budgeted. This consisted of TAB NZ Betting Profit (listed as Fixed Distribution in the table below), offshore bookmaker commission fees, which are based on actual turnover (termed Betting Information Use Charges (BIUC) in the table below), and Betting Duty/Levy repeal. Top 10 Racing events by turnover Date Venue Race No. Race description Turnover 27-Aug Te Rapa R6 Waikato Stud Foxbridge Plate (G2) $500K 6-Aug Riccarton Park R8 Winning Edge Presentations 125th Winter Cup (G3) $436K 27-Aug Te Rapa R5 Savabeel 1400 $394K 13-Aug Riccarton Park R10 Christchurch Casino 27th Annual SI Awards 16/09 $309K 20-Aug Ruakaka R7 Noel Reed Memorial $300K 20-Aug Randwick R8 Winx Stakes (G1) $295K 27-Aug Te Rapa R8 Super Seth Mile $295K 27-Aug Caulfield R8 Magic Millions Memsie Stakes (G1) $291K 20-Aug Ruakaka R1 10 September Harcourts for Hospice Maiden $289K 20-Aug Ruakaka R8 Fireco $284K Top 10 Sporting events by turnover Date Code Event Turnover 27-Aug Rugby Union New Zealand v Argentina $978K 14-Aug Rugby Union South Africa v New Zealand $818K 7-Aug Rugby Union South Africa v New Zealand $716K 21-Aug Rugby League Newcastle Knights v Canberra Raiders $494K 12-Aug Rugby League New Zealand Warriors v Canterbury Bulldogs $476K 26-Aug Rugby League Penrith Panthers v New Zealand Warriors $474K 19-Aug Rugby League North Queensland Cowboys v New Zealand Warriors $472K 18-Aug Rugby League South Sydney Rabbitohs v Penrith Panthers $436K 20-Aug Rugby League Sydney Roosters v Wests Tigers $431K 26-Aug Rugby League Melbourne Storm v Sydney Roosters $414K Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted October 6, 2022 Author Share Posted October 6, 2022 Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted October 6, 2022 Author Share Posted October 6, 2022 Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted October 6, 2022 Author Share Posted October 6, 2022 Where's @JJ Flash when you need him! August Operational Performance Reported Profit for the month was $10.4m, which was $1.4m below Budget. Operating Expenses were $10.5m for the month, which was $0.3m above Budget. Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted October 6, 2022 Author Share Posted October 6, 2022 Actually where is Mackenzie now? Quote Link to comment Share on other sites More sharing options...
Bloke Posted October 6, 2022 Share Posted October 6, 2022 Oh well the Real World Cup starts next month and that will make them look good. There was $35M bet on the last World Cup on the NZ TAB with 136Billion Euro Worldwide. Quote Link to comment Share on other sites More sharing options...
mikeynz Posted October 6, 2022 Share Posted October 6, 2022 29 minutes ago, Bloke said: Oh well the Real World Cup starts next month and that will make them look good. There was $35M bet on the last World Cup on the NZ TAB with 136Billion Euro Worldwide. Football in NZ must get some handy payouts from the TAB. I know Basketball does, the NBA is very popular, so there is a plus side to sports betting, profits go to organizations just as lotto does with theirs Quote Link to comment Share on other sites More sharing options...
Bloke Posted October 6, 2022 Share Posted October 6, 2022 1 hour ago, mikeynz said: Football in NZ must get some handy payouts from the TAB. I know Basketball does, the NBA is very popular, so there is a plus side to sports betting, profits go to organizations just as lotto does with theirs Yes they get 1% of turnover and a small share of profits from betting on the sport Quote Link to comment Share on other sites More sharing options...
mikeynz Posted October 8, 2022 Share Posted October 8, 2022 (edited) On 10/6/2022 at 10:27 PM, Bloke said: Yes they get 1% of turnover and a small share of profits from betting on the sport Like it or not, (and I say that as it's a racing forum) sports betting is where the growth for the TAB, and if they don't provide betting options then people will just go elsewhere, I find the sports betting stimulating, always something on, and lots of sport to watch on the website ias well. While I'm sometimes not always a fan of the TAB, they do support racing and sport in NZ , people must not forget that. Edited October 8, 2022 by mikeynz Quote Link to comment Share on other sites More sharing options...
Joe Bloggs Posted October 8, 2022 Share Posted October 8, 2022 A new player enters the game over here this week, Betr, they will shake the shite out of the 'others', huge backing, and if their first promotion is a sign of things to come then, bring it on.......they will bet you 101-1 about any runner in the MEL Cup right up to Derby Day!!!........to lose $1000.......so a 10 buck wager.........I'm in for that, spend 300 get 30 picks and still pocket a lazy 700.........what will TAB NZ offer...... Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted October 9, 2022 Author Share Posted October 9, 2022 19 hours ago, Joe Bloggs said: A new player enters the game over here this week, Betr, they will shake the shite out of the 'others', huge backing, and if their first promotion is a sign of things to come then, bring it on.......they will bet you 101-1 about any runner in the MEL Cup right up to Derby Day!!!........to lose $1000.......so a 10 buck wager.........I'm in for that, spend 300 get 30 picks and still pocket a lazy 700.........what will TAB NZ offer...... They won't last long with that model. Still need to make a profit. Quote Link to comment Share on other sites More sharing options...
mikeynz Posted October 9, 2022 Share Posted October 9, 2022 3 hours ago, Chief Stipe said: They won't last long with that model. Still need to make a profit. If it looks to good to be true, probably is, but if Mr Bloggs said it then it may well be true. lol. When they start setting those odds for every race im in. Quote Link to comment Share on other sites More sharing options...
Joe Bloggs Posted October 9, 2022 Share Posted October 9, 2022 Their website should be a goer shortly, mass exodus of Kiwi punters from NZ TAB to follow? Quote Link to comment Share on other sites More sharing options...
curious Posted November 10, 2022 Share Posted November 10, 2022 https://www.tabnz.org/tab-nz-trading-performance-update-september-2022 31 October 2022 TAB New Zealand (TAB NZ) provides the second monthly trading update for the 2022/2023 financial year, with the results and highlights for September 2022. The TAB operated through its online and retail channels throughout September. While the Omicron outbreak continued, the New Zealand Government dropped the COVID-19 Protection Framework/Traffic Light System from 13 September, easing all restrictions in retail and hospitality. Turnover was slightly down against budget in September, as was gross betting revenue (GBR) and gross betting margin (GBM), but overall, the performance showed signs of improvement compared to August. While the easing of mask restrictions had a positive impact on retail traffic, other factors - including the continuing soft economic conditions, abandoned race meetings, and another month of a drop in starters across all three racing codes - contributed to the above results. The Board will continue to factor in the current domestic and global financial climate, and the potential impact of any further ongoing trend of a drop in starter numbers as it assesses future distributions in the 2022-23 financial year. Wagering Performance Summary In September, the second month of the 2022/23 financial year, key performance results for TAB NZ were slightly down on the overall positive trends of the previous financial year. Turnover of $212.7m was 2.0% ($4.4m) below budget. GBR of $33.6m was down on budget by 3.4% ($1.2m) and GBM of 15.8% was 0.2 percentage points below budget. Racing Average NZ thoroughbred starters per race was 10.1, below the FY22 average of 10.6, while the peak turnover for a domestic meeting was $3.2m on 10 September at Hastings. Harness average starters per race was 9.8, slightly below the FY22 average of 10.2, while the peak meeting turnover of $1.5m was on 30 September at Addington. For greyhound racing, the average starters per race was 7.3, slightly below the FY22 average of 7.6, while the peak turnover for a domestic meeting was $441k on 22 September at Addington. Sport The top 3 sporting events by turnover for September were the three All Blacks tests against Australia and Argentina with a combined turnover of $3.4m. Tennis was the leading in-play sporting code accounting for 26% of in-play turnover while rugby union and rugby league were the top pre-match singles sporting codes accounting for 30% and 24% of pre-match turnover respectively. September Operational Performance Reported Profit for the month was $11.3m, which was $1.2m below Budget. Operating Expenses were $10.5m for the month, which was $0.1m above Budget. Year to Date Reported Profit was $21.7m, which was $2.5m below Budget Year to Date Operating Expenses were $21.0m, which was $0.5m above budget. September Distributions Racing Codes were paid $13.2m in distributions and other payments for September, versus $13.2m budgeted. This consisted of TAB NZ Betting Profit (listed as Fixed Distribution in the table below), offshore bookmaker commission fees, which are based on actual turnover (termed Betting Information Use Charges (BIUC) in the table below), and Betting Duty/Levy repeal. Top 10 Racing events by turnover Date Venue Race No. Race description Turnover 10-Sep Hastings R9 Tarzino Trophy (G1) $616K 10-Sep Hastings R7 HB/PB Tbred Breeders Assn Gold Trail Stakes (G3) $422K 17-Sep Randwick R7 Fujitsu General George Main Stakes (G1) $398K 24-Sep Ruakaka R5 Kensington Refrigeration $354K 10-Sep Hastings R10 Cancer Society - Donate Now 1400 $349K 17-Sep Riccarton Park R5 Double Tree By Hilton Karaka Handicap $328K 24-Sep Rosehill R7 Racing & Sports Golden Pendant (G2) $328K 30-Sep Te Rapa R6 Skycity Hamilton Waikato Cup Day 10 Dec Mile $327K 24-Sep Rosehill R8 Chandon Golden Rose Stakes (G1) $322K 17-Sep Riccarton Park R6 New Zealand Bloodstock Canterbury Belle Stakes $317K Top 10 Sporting events by turnover Date Code Event Turnover 24-Sep Rugby Union New Zealand v Australia $1.2M 15-Sep Rugby Union Australia v New Zealand $1.1M 3-Sep Rugby Union New Zealand v Argentina $1.1M 24-Sep Rugby League Penrith Panthers v South Sydney Rabbitohs $774K 11-Sep Rugby League Sydney Roosters v South Sydney Rabbitohs $679K 17-Sep Rugby League Cronulla Sharks v South Sydney Rabbitohs $679K 16-Sep Rugby League Parramatta Eels v Canberra Raiders $617K 23-Sep Rugby League North Queensland Cowboys v Parramatta Eels $594K 9-Sep Rugby League Penrith Panthers v Parramatta Eels $497K 10-Sep Rugby League Melbourne Storm v Canberra Raiders $494K Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted November 10, 2022 Author Share Posted November 10, 2022 1 hour ago, curious said: Turnover was slightly down against budget in September, as was gross betting revenue (GBR) and gross betting margin (GBM), but overall, the performance showed signs of improvement compared to August. Um how does that work? Down but shows improvement!!!! FFS. 1 hour ago, curious said: Average NZ thoroughbred starters per race was 10.1, below the FY22 average of 10.6, That figure is a real worry as punting revenue drops off real quick when the fields drop below 8. Quote Link to comment Share on other sites More sharing options...
curious Posted November 10, 2022 Share Posted November 10, 2022 1 hour ago, Chief Stipe said: That figure is a real worry as punting revenue drops off real quick when the fields drop below 8. Punting revenue per race but not punting revenue per starter Quote Link to comment Share on other sites More sharing options...
curious Posted December 29, 2022 Share Posted December 29, 2022 November Operational Performance Reported Profit for the month was $14.0m, which was $1.7m below Budget. https://www.tabnz.org/tab-nz-trading-performance-update-november-2022 Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted December 29, 2022 Author Share Posted December 29, 2022 TAB NZ Trading Performance Update - November 2022 www.tabnz.org TAB New Zealand (TAB NZ) provides the fourth monthly trading update for the 2022/2023 financial year, with the results and highlights for November 2022. TAB NZ operated through its online and retail channels throughout November. Turnover was up on budget in November, following a strong Melbourne Cup, NZ Trotting Cup and the continuing Football World Cup. Gross betting revenue (GBR) was above budget, but gross betting margin (GBM) was below budget. Retail traffic continued to hold strong following the easing of Covid-19 restrictions, and overall field sizes across all three codes were up on the year-to-date average. However, key factors such as continued competitive pressure from unregulated online offshore operators, reduced betting margin and lower average bet size in key customer segments had an effect. Overseas racing and sports drove the increased turnover, leading to increased payments and levies for these products. New Zealand Football will directly benefit from the Football World Cup through commission payments of $500k. There was also increased marketing investment to attract new customers and retain existing customers. The TAB NZ Board signalled to the racing codes in early December that it will reduce distributions by nine percent in the 2022/23 financial year (year ended 31 July 2023). Factoring in other distributions derived through New Zealand racing, overall distributions will be around $160m for this financial year. Wagering Performance Summary In November, the fourth month of the 2022/23 financial year, turnover of $260.9m was 7.3% ($17.7m) above budget. GBR of $40.6m was up on budget by 1.3% ($0.5m) and GBM of 15.6% was 0.9 percentage points below budget. Racing Average NZ thoroughbred starters per race was 10.8, above the YTD average of 10.5, while the top three domestic meetings were the Cup Week meetings at Riccarton with combined turnover of $10.8m. Harness average starters per race was 10.5, above the YTD average of 10.1, while the peak meeting turnover of $7.35m was on 8 November for the IRT NZ Trotting Cup Day at Addington. For greyhound racing, the average starters per race was 7.5, slightly above the YTD average of 7.4, while the peak turnover for a domestic meeting was $1.07m on 10 November for the New Zealand Greyhound Cup meeting at Addington. Sport The top sporting event by turnover for November was the Rugby World Cup final featuring the New Zealand Black Ferns and England Red Roses with turnover of $1.2m. Basketball was the leading in-play sporting code accounting for 35% of in-play turnover while Football was the top pre-match singles sporting code with 37% of turnover. November Operational Performance Reported Profit for the month was $14.0m, which was $1.7m below Budget. Operating Expenses were $11.0m for the month, which was $0.4m above Budget. Year to Date Reported Profit is $47.6m, which was $7.4m below Budget. Year to Date Operating Expenses were $43.1m, which was $2.0m above budget. November Distributions Racing Codes were paid $17.6m in distributions and other payments for November, versus $16.7m budgeted. This consisted of TAB NZ Betting Profit (listed as Fixed Distribution in the table below), offshore bookmaker commission fees, which are based on actual turnover (termed Betting Information Use Charges (BIUC) in the table below), and Betting Duty/Levy repeal. Top 10 Racing events by turnover Date Venue Race No. Race description Turnover 1-Nov Flemington R7 Lexus Melbourne Cup (G1) $11.5M 8-Nov Addington R11 IRT New Zealand Trotting Cup (G1) $1.9M 14-Nov Riccarton Park R8 Martin Collins 159th New Zealand Cup (G3) $907K 9-Nov Riccarton Park R9 18th Coupland's Bakeries Mile (G3) $774K 5-Nov Flemington R6 Darley Champions Sprint (G1) $618K 9-Nov Riccarton Park R7 Valachi Downs Canterbury Breeders Stakes (G3) $618K 5-Nov Riccarton Park R9 Al Basti Equiworld 50th NZ 2000 Guineas (G1) $589K 1-Nov Flemington R8 In Memory of Her Majesty Queen Elizabeth II $573K 8-Nov Addington R10 Avon City Ford Mobile Pace $558K 5-Nov Flemington R8 TAB Champions Stakes (G1) $539K Top 10 Sporting events by turnover Date Comp/Code Event Turnover 12-Nov Rugby Union New Zealand Women v England Women $1.2M 9-Nov Cricket New Zealand v Pakistan (T20) $724K 22-Nov Football Argentina v Saudi Arabia $624K 13-Nov MMA Israel Adesanya v Alex Pereira $596K 1-Nov Cricket England v New Zealand (T20) $521K 13-Nov Cricket Pakistan v England (T20) $514K 20-Nov Rugby League Australia v Samoa $494K 10-Nov Cricket India v England (T20) $493K 26-Nov Football England v USA $484K 25-Nov Cricket New Zealand v India (ODI) $483K Quote Link to comment Share on other sites More sharing options...
Trotsfan Posted January 3, 2023 Share Posted January 3, 2023 Can someone please explain to me how they paid out 1.1 million above budgeted figure to codes for month after just announcing a reduced payout for year Quote Link to comment Share on other sites More sharing options...
curious Posted January 3, 2023 Share Posted January 3, 2023 5 hours ago, Trotsfan said: Can someone please explain to me how they paid out 1.1 million above budgeted figure to codes for month after just announcing a reduced payout for year The reduced payout announcement is because they have been doing that for the last 6 months through October to the tune of $15m. More is likely if current performance continues (see below). I'm guessing another $10m cut before the end of the season. Quote Link to comment Share on other sites More sharing options...
curious Posted January 3, 2023 Share Posted January 3, 2023 November Operational Performance Reported Profit for the month was $14.0m, which was $1.7m below Budget. Operating Expenses were $11.0m for the month, which was $0.4m above Budget. Year to Date Reported Profit is $47.6m, which was $7.4m below Budget. Year to Date Operating Expenses were $43.1m, which was $2.0m above budget. 1 Quote Link to comment Share on other sites More sharing options...
Special Agent Posted January 3, 2023 Share Posted January 3, 2023 Initial thoughts are nonsense, rubbish and crap. Operating costs up due to restructuring and investment in customers. How's the latter working for them? I thought restructuring usually meant a cut to costs. There are so many marketing people involved, what the hell are their pieces of educational paper doing for the racing industry? Quote Link to comment Share on other sites More sharing options...
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