NZRB borrowing

[Keepingthemhonest 41]

Guess you have to invest to get a return.

Hope it works in the long run.

 

[von Smallhaussen 3,226]

put on a bit of weight since been working in that building 

[Midget 4,489]

He treats you all with contempt.

Listen to the first minute, he makes great store of "opening new accounts", the clear implication being that this is a huge and ambitious achievement ......that's just a crock of shit because thousands of accounts are opened every time we have a major sporting event, but then they go into hibernation.

The only relevant figure Slippery John is "active accounts" that are being used so drop the condescending shit and talk facts please.

 

[Scotch Thistle 133]

1 hour ago, von Smallhaussen said:

put on a bit of weight since been working in that building 

... and bloated his ego too... "thanks for joining me"... 

[gubellini 3,995]

John with all his gesticulations comes across as a poor man's John Cleese. I am totally opposed to the NZRB borrowing this proposed $20 million on the strength of dubious pie in the sky future revenue streams. Troubled times ahead in my opinion.

[lecithin 429]

I have been to several of his presentations over the last few years.  The presentations where he continually pushed the "three pillars" that would bring in the cash - new FOB platform, doubling account customers and race fields legislation passed before the 2017 election.  We were told we could judge him on the success of these....

Strange then, that apart from one passing comment on race fields legislation (possibly a slip of the tongue) his focus and lengthy updates were just on the FOB platform and doubling accounts to generate this extra revenue.  Anyone know what the update is regarding race fields legislation being passed before the election?

[tonkatime 323]

1 minute ago, lecithin said:

I have been to several of his presentations over the last few years.  The presentations where he continually pushed the "three pillars" that would bring in the cash - new FOB platform, doubling account customers and race fields legislation passed before the 2017 election.  We were told we could judge him on the success of these....

Strange then, that apart from one passing comment on race fields legislation (possibly a slip of the tongue) his focus and lengthy updates were just on the FOB platform and doubling accounts to generate this extra revenue.  Anyone know what the update is regarding race fields legislation being passed before the election?

It's unlikely to be passed before the election, its being present to the house in August I believe.

[eastern whipbird 82]

Of course it won't be passed before the election. The National Party cabal headed by the lady shot putter will make sure of that. Allen is nothing more than a puppet for the incompetent board whose next meeting will be at Eden Park next Saturday night.

[Phantom 494]

We're borrowing $20 million "because we're confident these projects will deliver a lot more to the codes". Based on what? Allen and Glenda's combined knowledge of the betting industry? LMFAO. More likely the $20 million will help ensure their ridiculously bloated salaries get paid for another couple of years while they hammer the last few nails into the racing industry's coffin. It all sounds great but there is absolutely nothing to support these figures at all. He's like a bible belt evangelist. The only question is does he actually believe the stuff he preaches to his constituents (?) and the answer has to be no because he has no history of success in this industry, or reason to believe the pie in the sky numbers he and Glenda have pulled out of their "hats" have any basis in reality at all. So save this, note all the numbers/targets mentioned and review it in a couple of years. And of course Midget is right, the number of accounts means absolutely nothing. Next June they have the World Cup which will no doubt see new accounts opened in their tens of thousands with the help of any half decent marketing campaign. They'll use these numbers in July to show how well they are doing. But they mean nothing. ACTIVE accounts is what they need. And what they are losing every week.

[Phantom 494]

And those sportsbook holds he mentions are miserable. But life goes on in TAB land, no change, it's all good, dum de dooh.. 

[Ohokaman 5,825]

56 minutes ago, Phantom said:

We're borrowing $20 million "because we're confident these projects will deliver a lot more to the codes". Based on what? Allen and Glenda's combined knowledge of the betting industry? LMFAO. More likely the $20 million will help ensure their ridiculously bloated salaries get paid for another couple of years while they hammer the last few nails into the racing industry's coffin. It all sounds great but there is absolutely nothing to support these figures at all. He's like a bible belt evangelist. The only question is does he actually believe the stuff he preaches to his constituents (?) and the answer has to be no because he has no history of success in this industry, or reason to believe the pie in the sky numbers he and Glenda have pulled out of their "hats" have any basis in reality at all. So save this, note all the numbers/targets mentioned and review it in a couple of years. And of course Midget is right, the number of accounts means absolutely nothing. Next June they have the World Cup which will no doubt see new accounts opened in their tens of thousands with the help of any half decent marketing campaign. They'll use these numbers in July to show how well they are doing. But they mean nothing. ACTIVE accounts is what they need. And what they are losing every week.

The important words there Phantom are "any half decent marketing campaign.."

Can you remember the last one...?? 

[Phantom 494]

Run, Seabiscuit, run!!.... 

[Phantom 494]

Definitely a smart move making this video private, Mr Allen. I mean just in case anything you said it in could be proven to be a lie in years to come.... 

[Patiti 274]

Why would an organization with a large cash flow need to borrow money.

Reserves used to be around $80M until Brown and Bayliss frittered it away.

What happens if the borrowings go the same way.

[Bimbo 734]

Surely this can't be for real.  You get a guy from the post office or wherever and he gets a bunch of other guys he worked with at the post office or wherever and they come up with a plan to borrow money to run a business that a teenager should be able to run blindfolded and make money from without borrowing a cent.  It's a legal monopoly!  I've heard some funny things before, but this has got to take the cake.

Where has the video gone?

[The Crucible 632]

4 hours ago, Patiti said:

Why would an organization with a large cash flow need to borrow money.

Can't comment on this particular organisation, but if you read some business articles/texts you might find the odd large organisation that has levered their balance sheet for growth!?

[Ohokaman 5,825]

9 minutes ago, Bimbo said:

Surely this can't be for real.  You get a guy from the post office or wherever and he gets a bunch of other guys he worked with at the post office or wherever and they come up with a plan to borrow money to run a business that a teenager should be able to run blindfolded and make money from without borrowing a cent.  It's a legal monopoly!  I've heard some funny things before, but this has got to take the cake.

Where has the video gone?

Someone's been watching Bimbo.......

[Guest 2Admin2]

Someone must have a copy of the video.  If they do please message me and I'll see what I can do with putting it back up.

With regard to borrowing the $20m - what happens when the strategies don't work?  Do the Racing Clubs have a liability with regard to the loan?  Land sales anyone?