NZRB 2017 report Brian de Lore

[Black Kirrama 1,513]

Brian De Lore wrote ,last week, in The Informant, that the AGM for our pathetic, rudderless 

NZRB will be at 4pm tomorrow at Karaka.
In his articulate style he noted that the NZRB doesn't have to publish their annual report

before the Annual General Meeting !

I can not find the 2017 version on the NZRB Website.

When we do get to see The 2017 NZRB Annual Report will it look like Racing Victoria's?

I suspect that,  The NZRB Annual report  will be a cover up like The Waikato District Health Board for the crooks Nigel Murray and Mohamed Shakel Siddiqui.

Let me know if you are going tomorrow to hear this report !

 

Edited November 20, 2017 by Black Kirrama
spelling

[gazza123 51]

on trackside last night ,couldnt reveal financial report.was a farce

[gazza123 51]

last years accounts could have been signed of by last racing minister whatshis name??

[Ohokaman 5,824]

Gary Chittick certainly wasn't impressed was he, particularly about the Deloitte report. Why haven't NZTR released it by the way ??

[Guest]

This new FOB platform that is costing millions could well be a lemon!

It is going to give punters a helluva lot more betting options, which I doubt we probably need as there is so much racing from around the world already.

Do we really want to be betting on non sport events?

This outfit they have gone in with for this FOB platform owns Sportsbet in Australia which I wouldn’t Think was a positive.

You show any signs of being able to make money and you can’t get a bet on, they shut you down and don’t even advise you!!!!

Wouldnt be holding your breath that they are going to be making all these profits to be returned to racing.

[Ohokaman 5,824]

26 minutes ago, poundforpound said:

A couple of other thoughts.

Check the NZRB screen shots and their spelling ( of the word acquisitions from memory.).

And a final question to you Glenda, how can you look this industry in the eye and make such a defiant speech when there is zero evidence you understand this industry or have done anything to assist and rehabilitate us ?

Before you reply Glenda let’s agree that you’ll remove ALL pokie related data from your historicals so that we can get an accurate background by which we can judge you.

Yes, I saw that. It was correct on later shots. Very sloppy.

[Ohokaman 5,824]

Latest report from NZTR. No mention of the DR but some interesting stats. I did not know Haydn had retired...a big loss to riding ranks.

http://optmail.nzracing.co.nz/t/r-199FF9ADAEDC76D52540EF23F30FEDED

[Patiti 274]

Interesting that the Wn cup top turnover yet the ARC and breeders trying to sabotage it to feather their own nests.

See what happens in January this year.

[ivanthegreat 1,123]

 

[Patiti 274]

What is the point..........................................Who are you trying to get at?

[Ohokaman 5,824]

6 hours ago, poundforpound said:

Chittick made a complete fool of himself.

The Deloitte’s report was NOTHING to do with the NZRB or this AGM, it was commissioned by NZTR, paid for by NZTR, the scope of the report was by NZTR.....Chittick clearly had no idea that this was an NZRB AGM or where the demarcation lines are between the two bodies.

How could John Allen or the NZRB possibly release a report they have no rights to or don’t own ? The notion that they could is fucking bizarre.

It was actually embarrassing to be there at the AGM and to have to endure those rather irrelevant questions from the floor, but it comes as no surprise and I guess that’s why this code is so dysfunctional and in the delapidated state that it is.

John Allen wiped the floor with Chittick, I’ll bet he couldn’t believe his luck when that was the approach Chittick took, asking a totally irrelevant and inappropriate question and wasting what was a good opportunity for someone intelligent to ask some informed questions and drill down into the NZRB figures and performance.

I didn’t bother to ask any questions because the cringe worthy efforts by others meant we all wanted this torturous event to come to an end, however if someone had held a gun to my head I’d have asked this;

How is it that pokie turnover is 480 million, revenue is 37 million, but net profit is only 16 million, and code distribution is a mere 12 million. Where the fuck is the missing 21 million and how did you wash off 21 million in pokie expenses when all you’re able to deduct is a small handling fee and a little percentage of your retail footprint ?

Theres a rort there and I want to know where that 21 million has gone.

Secondly John, help me understand exactly how you funded this 15 million industry payment you agreed to in March to silence the dissenters, did it come from cash reserves or borrowings against revaluation of assets? and furthermore if it’s the latter please justify why you’d borrow against assets to fund something that’s most unlikely to ever return a profit, be sustainable, or be repaid.

Bear in mind John that I don’t ask questions unless I already know the answers  

All Cafers should watch the footage of the AGM, it’s on Trackside at 10 this morning. I’m told by my insiders that they’ve left it unedited because they enjoyed watching our alleged code leaders and “enforcers” make absolute fools of themselves !!

I did wonder why someone didn't ask Jason Fleming who was there. Clearly numbers have been leaked by somebody and they are apparently disturbing enough for people to ask questions, albeit in the wrong forum.

[Patiti 274]

2017 report now available on NZRB website.

[CosmicBlackie 128]

25 million revolving credit facility.

First time for awhile, if ever, had to borrow money . Here’s hoping all the forecasting works.

[tasman man 11 979]

14 hours ago, poundforpound said:

Thanks for that.

Check the pokies for the missing 21 million, well to be more accurate the 21 million soaked up in opex.

Just had a quick look at the Report/Accounts.

Pokies/Gaming had a $436m turnover and $398m worth of kaching kaching payouts with flashing lights.

That left them $37.8 mil from which Duty ,GST and PG Levy of $13mil [total] deducted.

This leaves $24.835 mil surplus.

Then they deduct$12.3 mil for racing stuff like RIU [$6mil] ,Racing Lab , JCA ,Racing publications PLUS $3.2 to Sporting Community groups like Gymnastics ,Table Tennis and tiddlywinks.

After that $15 mil comes out this leaves $8.639 mil as the Distribution from Gaming.

You are very welcome ,but I'll pass your invite to become one of your impeccable sources...my friends a few enough already !

[tasman man 11 979]

I note there is now a green area[ grass ] down at the Viaduct but wonder if those sexy Moet loungers will handle us big units!

Odd place to put a children's playground !

And not to mention H & S....very close to water after a few Moets.

[Tauhei Notts 1,403]

I have spent some time thinking about the New Zealand Racing Board annual general meeting I attended at Karaka, a couple of weeks ago.  I sat next to a likeable rogue who calls himself 453 grams for 453 grams.

There were no annual financial statements made available at the meeting.

Then I thought;

"would the NZRB allow a totalisator licence to a racing club that was so mismanaged that it was unable to present the club's annual financial statements to those present at the club's annual general meeting.

That is the height of administrative incompetence, and no number of excuses, all as weak as urine, will suffice.

[Patiti 274]

Glenda said the previous IT effort was Typhoon or Helix.

In fact they were both monumental failures and the board learnt nothing from their failures.

Used all the reserves and now borrowing to try again.

Trust they know what they are doing this time.

[Berri 2,131]

45 minutes ago, Linda said:

http://bit.ly/2BGAQ1i

Why is this allowed on here? Notice one of the other threads is the same.

[Guest 2Admin2]

3 hours ago, Berri said:

Why is this allowed on here? Notice one of the other threads is the same.

They're called spammers Berri.  As we enter the depths of the Russian winter the frequency of attacks increase.  Although the site software picks up most some still get through.  I do try to have a life outside of Racecafe so some of those that do get through take a while to pick up and remove.

[N1MUE 1,877]

9 hours ago, 2Admin2 said:

They're called spammers Berri.  As we enter the depths of the Russian winter the frequency of attacks increase.  Although the site software picks up most some still get through.  I do try to have a life outside of Racecafe so some of those that do get through take a while to pick up and remove.

Hope the pay is good Admin!?

[scooby3051 10,857]

13 hours ago, Berri said:

Why is this allowed on here? Notice one of the other threads is the same.

Maybe if you paid for your subscription instead of getting the privilege for free we could upgrade the site so you would have nothing to moan about...cheers.

[Berri 2,131]

11 hours ago, scooby3051 said:

Maybe if you paid for your subscription instead of getting the privilege for free we could upgrade the site so you would have nothing to moan about...cheers.

OOOOhhh. I paid my dues when I invested money many moons ago in Dave and Ange to help start this site so that the industry had a voice. What is the subscription and what extra do I get for it?

[Don't You Believe It 93]

Ahh the good old annual report.  At last we can see how the wonderful promises of yesteryear are delivered and gauge the truthfulness of the latest promises of success to come.

But wait...In the 2013-2016 Statement of Intent (SOI), the Banker Bayliss promised that distributions of profit would be $160m-$180m by about now (next year actually).  In fact it even forecast $161m for 2015/2016 - last year.  Probably expected $165m for 16/17 - and yet the annual report now only reports $144m (before fiddling the numbers with "strategic spending").  That's $21m of promised profit missing.

And they want you to trust them now?  $200m here we come.....?

There is a saying "all hat and no horse".

[Ohokaman 5,824]

1 hour ago, Don't You Believe It said:

Ahh the good old annual report.  At last we can see how the wonderful promises of yesteryear are delivered and gauge the truthfulness of the latest promises of success to come.

But wait...In the 2013-2016 Statement of Intent (SOI), the Banker Bayliss promised that distributions of profit would be $160m-$180m by about now (next year actually).  In fact it even forecast $161m for 2015/2016 - last year.  Probably expected $165m for 16/17 - and yet the annual report now only reports $144m (before fiddling the numbers with "strategic spending").  That's $21m of promised profit missing.

And they want you to trust them now?  $200m here we come.....?

There is a saying "all hat and no horse".

That would probably be the missing pokie money alluded to previously DYBI...and that cash "injection" had to come from somewhere.. 

[Don't You Believe It 93]

1 hour ago, Ohokaman said:

That would probably be the missing pokie money alluded to previously DYBI...and that cash "injection" had to come from somewhere.. 

Not quite - coincidence that the same amount crops up twice.  My missing $21m is the gap between promises made four years ago and actual results delivered in terms of profits.  $21m short.  The pokie gap is basically I think due to the compulsory duties and GST payable that also gets deducted from the "win" or margin reported.  It really is a low margin game 5c in the dollar.  BTW - the inclusion of the pokie "turnover" with betting turnover is a complete rort and should be stopped in the interests of "transparency".  It only came about when Bayliss saw the opportunity to talk up the size of his.... business to justify his exorbitant salary ($2 billion business yadda yadda....).  No where in the world does a gambling company "report" like we do.