RaceCafe..#1...Tipsters Thread.... Share Your Fancies For Fun...Lets See Who The Best Tipsters Here Are.
Midget

Glenda wants to spend our 90 million

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1 hour ago, rdytdy said:

Midget has stated that he has not been invited to the meeting so won't be in attendance Col.

That said, I am sure that what posts are being placed here will no doubt be read by all the parties that are however, therefore any information such as from the likes of Phantom and others will indeed be taken on board.    

Yes thanks Ted I hope you are right they are reading.

I was hoping Midget or someone would feed the costing info Phantom has provided to those attending. More particularly Phantom or his contact should be contacted by the powers that be to advise on the project !!!

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I was so concerned at the direction they were taking two years ago I offered my services as a consultant to Ms Hughes two years ago. Problem is she would have mentioned my name to Purcells and the absolute last thing that guy wants is someone who actually has half a clue poking around the gravy train. 

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Noticing the costs quoted here range from $1.5 million to $90 million I thought it useful to have some real technical information on a Fixed Odds Betting "Platform"

Now I admit having spent 50 years in IT/computing and 50 years betting or practical involvement with racing I haven't a clue what a F/O platform is although my painters used a platform painting the house.

It can't be the ability to take thousands of hits on a web site per second or prevent cyber attacks as the myriad of bankers employed at the TAB supposedly would have solved that problem. It can't be efficiency in framing the odds because punters will steer away if they can't find discrepencies and believe they can make a profit or get on after seeing a price drop in say Australia before dropping here.

Now I understand software runs on platforms like windows, UNIX, android, iOS etc but fixed odds platform Wow!! TAB through Open Bet helping the likes of Paddy Power. Very philanthropic.

So  if someone has in depth technical info it would be informative.

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9 minutes ago, slam dunk said:

Noticing the costs quoted here range from $1.5 million to $90 million I thought it useful to have some real technical information on a Fixed Odds Betting "Platform"

Now I admit having spent 50 years in IT/computing and 50 years betting or practical involvement with racing I haven't a clue what a F/O platform is although my painters used a platform painting the house.

It can't be the ability to take thousands of hits on a web site per second or prevent cyber attacks as the myriad of bankers employed at the TAB supposedly would have solved that problem. It can't be efficiency in framing the odds because punters will steer away if they can't find discrepencies and believe they can make a profit or get on after seeing a price drop in say Australia before dropping here.

Now I understand software runs on platforms like windows, UNIX, android, iOS etc but fixed odds platform Wow!! TAB through Open Bet helping the likes of Paddy Power. Very philanthropic.

So  if someone has in depth technical info it would be informative.

Have forwarded your question to my friend who much more technically inclined than me. Will post his reply when it arrives.

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the company taking the real punt is NYX -this NZRB deal is a nice business as usual deal that keeps their team of 500+ engineers ticking away.

NYX makes for an interesting read so this post has nothing to do with the NZRB. Thery have a registered office in Gurnsey and trade in Canadian $. Their quarterly financial updates and comments are complex to say the least.

Last year they took some big punts through acquisitions of OpenBet and Betdigital, 

With terminology that seems straight from the movie 'The Big Short' they conjured up a "trading profit" for the 9 months to September 2016 but after exchange differences were taken into account they actually lost C$5mm.

Here's a couple of quick snips from their published accounts......

Net financing income was $34.2 million for the three months ended September 30, 2016 .....  due to the change in fair value of the embedded derivatives related to the equity conversion feature in the preferred shares, convertible debentures, and certain warrants. The derivatives are valued using different valuation methodologies. The main factors driving the change are volatility in the Company's stock price and strike prices greater than the current stock price.

Although the Corporation anticipates it will have positive cash flow from operating activities in future periods, it is possible the Corporation may have negative cash flow in any future period as the Corporation continues to progress its business plans and its capacity of operations.

Hmmmm.....

With outside liabilities/ debt of C$580mm and assets that include C$369mm of "Other intangibles" and C$381mm of "goodwill" the balance sheet aint bricks and mortar. Clearly they're reliant on their bankers and William Hill who have a vested interest in their success.

The markets rate them undervalued and a "buy."

My read is their acquisitions to put a bulls-eye on their back such that they'll be gobbled up by a bigger player.

 

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14 minutes ago, Eclipsed said:

Although the Corporation anticipates it will have positive cash flow from operating activities in future periods, it is possible the Corporation may have negative cash flow in any future period as the Corporation continues to progress its business plans and its capacity of operations.

 

That should make for a good fit with the NZRB strategic plan.

"certain warrants"? That also fits well with the gobbledygook emanating from the NZRB.

If those two are going to have a lie down together, anything could happen.

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9 hours ago, Phantom said:

Ok. As promised, Here is the lowdown on NYX/Openbet from a friend who is in a senior management position in probably THE biggest US facing offshore book.

"We talked to them two years ago and they were talking US$1.6-1.8m for software. I have no idea what they are doing for the TAB, but $90 million cannot be a realistic number. $90 million would buy you a 1/4 share in William Hill and they would come and do it for free.

"It's just another case of a state betting agency gone mad in an area they have no clue about.

"I could have got them a deal for 40% of gross profit and no expenses and their customer base would also be a lot happier.

"I imagine their current net profit is not high." (he's right - in industry terms the TAB's fixed odds profit is embarrassing) . "

So much for their extensive tender process. They didn't even talk to these people, nor the industry leaders. Which begs the question who did they talk to? And why on earth would they authorise such a massive spend when clearly it is wayyyyyyyyyyyyyyy beyond the normal price for such an undertaking???

I wonder.

Because they have no clue Phantom.....the term "fishes out of water" doesn't even come close....

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On 1/26/2017 at 4:13 PM, Eclipsed said:

 

My read is their acquisitions to put a bulls-eye on their back such that they'll be gobbled up by a bigger player.

 

Given all of the hoo-ha over the NZRB's spending a lazy $30m or so on the up-front development thought it'd be useful to refer back to the crowd actually doing the grunt work.

Back in January 2017 my read was that NYX were setting themselves up for a takeover - shame there wasn't odds on that

https://www.sgdigital.com/scientific-games-to-acquire-nyx-gaming-group

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1 hour ago, Patiti said:

How does this affect Open bet / FOB project at NZRB

Day one sweet fa - although if the original scope estimate was $20m and if, as reported, it's blown out to $30m it'd mean that instead of NZRB's IT team negotiating with nyx to minimise the up-front coding/dev work they're now negotiating this piece with SG Digital. Whether the new owner would hold any sympathy for project creep and therefore discounting more programming time required versus the previous owners, then probably not?

My point moreso was that the NZRB entered into an agreement where the Chair was quoted ""After a rigorous selection process, we are firm in our belief that the NYX Gaming Group will provide NZRB with the ability to access a first-class fixed odds betting engine. We are delighted to be partnering with the leader in digital wagering...."

I did a quick dig of the company NZRB entered into the contract with and concluded they were technically insolvent and therefore ripe for a takeover/doing a deal. That's exactly what transpired.

You'd therefore have thought that the NZRB Board asked, at the time ,as to who NYZ were and whether in the years to come that the NZRB could still get bug fixes/upgrades/patches et al at a fair and reasonable price. 

 

 

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39 minutes ago, Eclipsed said:

Day one sweet fa - although if the original scope estimate was $20m and if, as reported, it's blown out to $30m it'd mean that instead of NZRB's IT team negotiating with nyx to minimise the up-front coding/dev work they're now negotiating this piece with SG Digital. Whether the new owner would hold any sympathy for project creep and therefore discounting more programming time required versus the previous owners, then probably not?

My point moreso was that the NZRB entered into an agreement where the Chair was quoted ""After a rigorous selection process, we are firm in our belief that the NYX Gaming Group will provide NZRB with the ability to access a first-class fixed odds betting engine. We are delighted to be partnering with the leader in digital wagering...."

I did a quick dig of the company NZRB entered into the contract with and concluded they were technically insolvent and therefore ripe for a takeover/doing a deal. That's exactly what transpired.

You'd therefore have thought that the NZRB Board asked, at the time ,as to who NYZ were and whether in the years to come that the NZRB could still get bug fixes/upgrades/patches et al at a fair and reasonable price. 

 

 

Due diligence ??? They wouldn't know what that was E.... How else do you explain their employment history..?  :rolleyes:

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Guest

Always amazes me how these pseudo bureaucratic dropkicks get it wrong so often.  I bet they paid some consultant to advise them.

What's worse we have talent in this country and they ignore or won't take the risk.

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10 hours ago, Eclipsed said:

Given all of the hoo-ha over the NZRB's spending a lazy $30m or so on the up-front development thought it'd be useful to refer back to the crowd actually doing the grunt work.

Back in January 2017 my read was that NYX were setting themselves up for a takeover - shame there wasn't odds on that

https://www.sgdigital.com/scientific-games-to-acquire-nyx-gaming-group

Spot on again Eclipsed. This will all no doubt well exceed the damage of the Typhoon disaster.

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