LightsOut

I can't fathom why McKenzie would in the half year August 2019 - January 2020 financial report make mention at the beginning and the end of his comments the impact that Covid 19 has had on most business's across the globe. Covid 19 had zero effect on the a bottom line of the accounts in question. In comparison to previous 6 monthly reports it's a 'con' 'dense' statement and as such lacks the required information to be able to fully comprehend the true situation. It's poor financial reporting when an Organisation doesn't have the previous 6 months alongside the current figures and if you look at last years 6 monthly report report both current and this years both figures exist. The Racing Minister said that RITA would be a transparent and open agency well it's obvious they are far from that. The first 6 months there appears to have been no real urgency towards cutting costs and then along comes Covet 19 and gives RITA the jump start they needed but due to basically doing nothing in the first 6 months they had no other option to adopt but a cost cutting knee jerking reaction which meant maybe some things were cut which shouldn't have been eg Radio Trackside . .Mmm do you think the axing of Radio Trackside would resulted in a decline in public interst of the Industry. Why didn't RITA communicate with their customers as required under their mandate to do? They obviously forgot about that small detail of been open and transparent. Ha financials structure had no chance when millions in Bonus Bets oddly gets coded to the wrong area. I mean come on how could it not have been picked up earlier when all of a sudden one area of cost starts going above what it should be. Most financial Organisations would actually call that creative accounting rather than blamed on a coding error. Great financial structures implemented when it takes months to pick-up what should have been noticed after a month. So that's a fail by RITA. Looking at the figures and results that's a fail by RITA Update from RITA aug 2019 4th meeting board Near a year on the same pin gets given bad results going punters way and big punters betting less. Must be some punters making plenty out there. Oddly enough the best sports result ever occurred in the first 6 months when the TAB won over $7 million from the Rugby World Cup. Fail Does that $26 million relate wholly to the first 6 months? And is it reflected in the expense accounts? Why are they reporting revenue growth in this area when merchant fees charged to a consumer are only supposed to be a recovery of bank credit card costs by a Company. The expense and income from this area should cancel each other out. Elite customers don't pay credit card fees and with them turning over % wise in betting more than the average 'Joe' punter it seems they are subsidising the free ride for the Elites. John Allen said the $50 million dollar plus $17 million a year in costs would be world class and enable the NZ TAB to competitive with overseas rivals. Well the first thing you do is remove credit card deposite fees like all TAB"s and Corporate bookies have in Australia. Paying a fee to use that nightmare of a site is a joke. Poor NZ punter deposites $20 into his account pays his bank $2.15 for a credit card fee, if he uses card credit pays about 20% then punts into tote pools with a top takeout of 26% then they poor $#$@ard has to try and pick a winner. That credit card fee came in a year after Bayliss and his ex banking GM mates came in. The NZ TAB would have a good % rate on their merchant fees, most companies that do charge a credit card fee are around 2.5% so teh $2.15 on a $20 deposite is a high % for a customer to pay and on that type of a transaction results in a money making excercise. Interesting Lotto don't charge a merchant fee for online deposites. The merchant fee for debit cards online is 1% and $0.00 through eftpos. If anyone was charged a merchant fee of $2.15 by the TAB when depositing online during Lockdown e-mail them for a refund as banks waived merchant fees during this period. Its not the amount but the principal; as punters already get stung enough without adding to the TAB's revenue line when they don't have to. The first 6 months I would rate RITA's performance 2/10 as saw nothing to make me think they were onto it and made changes needed.

Ha no doubt they only surveyed the VIP punter's who only bet sport. No VIP punter who bet on racing and has any clues would make a negative comment such as that. The bottom line is that it will have an impact on racing turnover.

Don't hold your breath there will be a 6 month report coming out as the word is it was that bad the Industry wouldn't believe it. The end of year financial report will blame Covid 19 for the overall end result but anyone with a half a clue knows financially wise things were in a dire situation well before that.

So why is the GM who promoted the new betting platform to the ex CEO and Board still there?

no

Just shows the reason why the NZ TAB should not be in the business of bookmaking and why the new platform will never pay for itself. Take bets at $1.04 and your only paying out half making good money. Just once again proves how clueless the management are and why the Industry is in financial strife.

Ha ha free bet if your dog finished 4th in 4 runner race beautiful. Obviously they changed the wording on that race from 'if your win bet on a greyhound doesn't win but runs 2nd-4th we will give you up to $30 in bonus bets to 'have a bet on any runner in the race and we will credit you up to $30 in bonus bets' at least that doesn't sound so stupid.

on a new betting platform to be competitive with the rest of the world, just more bullshit sold to the Industry. Penrith vs Newcastle at half time score 14-6 Panthers and they turn the tap off on the Panthers after having them at $1.01 while the rest of the world were $1.04 and Betfair $1.06. If you are only offering $14 on one team and close book on the other team pay out all the bets on them. You would call them fleas but that would be insulting the flea's of the world. Close the book and while your at it close your business down your cluless. Your going that bad you cant take 100k at $1.04 with 40 minutes to go give up and sack yourselves.

Exactly restructure the senior management team down to 1 and the Industry might, just might survive.

Ha Betting Platform the Industry was told would be world class. No runner form comments at today's Addington meeting the first one back since Lockdown. On Sportsbet's website (NZ TAB's betting partner in sports) they have comments. This new betting platform Allen told the Industry was needed to compete with overseas competition. If you don't have comment previews guess what your not going to be competing. $#$%@en clowns (sorry that's an insult to the clown's of the world).

Yes the TAB needed to lose some of these 230 people but how many have lost their jobs to help pay for a lemon of a betting platform's overrun in costs along with a $17 million a year to service and maintain it. These job cuts are going to save the industry $10 million the Industry is told but the Industry was never told of the $17 million a year in additional costs for the betting platform until after it was up and running. Now punters are paying for it also (not money wise but info wise) by not having raceform publications,previews on local racing (no Metro previews today),no onourse presenters, no newspaper coverage, no radio coverage, no terminals on track etc. First to have have their jobs go should have been the clowns involved in the betting platform as the Industry was lied to as to regards the costings. The Board was lied to as well and they were obviously too thick too know otherwise. The Industry needs to be making a stand and demanding these people go down the road and if they don't do that well they get what they deserve an Industry's wagering service they help to pay for going down the drain. Make some noise rather than sitting back thinking it's all going to be okay, bottom line is it won't be.

The TAB was set-up to service the racing clubs and now they have no service to offer them so why does it still exist?

Industry should be demanding it if the Racing Minister doesn't when review is finished.

Exactly so what is left, brain dead nilers!

A lot of things cost the Industry money but they are very small compared to what the one biggest cost to the Racing Industry is.

Wasn't that the mandate given to RITA by Winston Peters when he legislated them to take over on 1st July 2019? It's like John Allen has been reincarnated. RITA needed Covid 19 to make them wake up and realise what a pandemic actually is and to click that maybe the Racing Industry was already in that state before the virus struck! Pandemic definition is - occurring over a wide geographic area and affecting an exceptionally high proportion of the population Examples of Pandemic : Research from the 'Deloitte & Messara Reports' paint a bleak picture of the economic toll that the NZ Racing Industry will suffer for years to come due to the TAB's 'pandemic' of employing brain dead CEO's and General Management resulting in closed racetracks,breeding numbers down by hundreds as well as huge numbers of Industry related job losses. In one small bizarre way the NZ TAB showed the Nation that when either a 'man made Industry pandemic' or a 'virus pandemic' hits the end result is much the same. Now if the NZ Racing Industry had seen the 'pandemic' coming and put the NZ TAB General Management into 'Lockdown' maybe things could have got better a lot sooner rather than later and the fallout damage would have been a lot less to endure and the recovery rate greatly shortened.

"Despite far reaching efforts to reduce costs across the TAB, including salary reductions, staff taking leave and reducing all non-essential expenses, it simply was not enough to offset the blow (Bayliss knew all about blow) Covid-19 has had, and will have, on our industry," executive chair Dean McKenzie said. https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=12334597&fbclid=IwAR1POn-S8u3ZDmjoMwAHhNkRoMD2DjVt0u26VK_S47zRlgH4b6GPw1KfrG4

If he doesn't have get any success with the Gambling Industry (ha that's stating the obvious) the perfect job just came up on-line. Looking For Children’s Party Entertainer - New South Wales Job Position: Looking For Children’s Party Entertainer Company: Confidential Country: Australia Location: New South Wales Published: 05/05/2020 ID: 253981523 Looking for 2 children-s party entertainers for 3 hours on Saturday 7th from 10.30am to 1.30pm for about 50 children for face-painting, balloon twisting and games. quote to gulcom Perfect they are looking for 2 clowns so he can put a word in for one of his NZ TAB mates. If they want a well qualified, known clown and someone on the same wavelength as 50 children it will be tough going to find a better clown. Word is he twisted a CEO and board to believe his stories so it will be a walk in the park twisting children with his fanciful tales. https://au.jobomas.com/looking-for-children-rsquo-s-party-entertainer_iid_253981523?utm_source=jobrapido&utm_medium=xml&utm_campaign=xml&utm_content=xml-avisos

Word is they got sent over by the Corporate Bookies in Australia to knock off the NZ TAB so no race betting monopoly would then exist and they could move in to NZ.

Agree with you We're Doomed I have said in the past I have no doubt John Allen would be a lovely fellow to have afternoon tea and biscuits with while discussing the weather.

Mikie compare the situation to a high priced selling yearling purchased at the sales. Sold on the basis it had the pedigree to deliver but failed to perform as was expected and after a continued run of non performance was sacked and was subsequently picked up at half of its original price where it would have no problem fitting into the new enviroment full of others with the same past form.

Given past and recent management performances the NZ Racing Codes should be demanding that all pre RITA appointed General Management resign immediately given that the Racing Act states: 9Functions of Agency (1)The functions of the Agency are—(aa)to lead and manage the reform of New Zealand racing during the transition period, including (without limitation) by—(i)implementing a fit-for-purpose organisational structure for the governance of the racing industry:(ii)preparing for the transfer of the Agency’s functions to the racing codes and its successor organisation:(iii)supporting sustainability of the racing industry by undertaking initiatives to ensure efficiency and drive revenue growth:(iv)carrying out any other things necessary or desirable to promote the objective of reforming New Zealand racing: The General Management led and managed the Industry to the brink of total collapse so why would the Racing Codes want them involved in the restructuring measures needed to turn the industry around and to prepare for the transfer of functions to them. Stephen Henrys Linkedin info site includes: Strong general management and consulting experience specialising in managing businesses and organisational turn around Specialties: Service Delivery Strategy Development & Execution P&L Management Customer Management Project / Programme Management Change Management M&A Board roles. Accomplishment listed as the Fixed Odds Betting Platform which is a major concern given Accomplishment is used as a word to something successful or impressive that is achieved after a lot of effort and hard work. There are only two possible senario's resulting from the above: 1. Your taking the piss 2. You struggle to interpret the true meaning of some english words eg Accomplishment. I do agree with one of his specialities 'execution'

No doubt Mr Allen left this performance review out of his recent CV. https://www.anzsog.edu.au/preview-documents/case-study-level-1/760-trimming-the-fat-change-at-the-ministry-of-foreign-affairs-and-trade-2013-142-1/file?aid=2760&return=aHR0cHM6Ly93d3cuYW56c29nLmVkdS5hdS9yZXNvdXJjZS1saWJyYXJ5L2Nhc2UtbGlicmFyeS90cmltbWluZy10aGUtZmF0LWNoYW5nZS1hdC10aGUtbWluaXN0cnktb2YtZm9yZWlnbi1hZmZhaXJzLWFuZC10cmFkZS0yMDEzLTE0Mi0x