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Ohokaman

Winstons big announcement...

146 posts in this topic

Taxi' says to Hos, Winnie has to bring the AWT etc up in cabinet/caucus discussion where the 'assistance to racing project' is contestable with other ministers wish lists

Barry Soper says that Winston wins as the COL falls over if Winston wishes. And a lot of the numpties are out of a job or at least out of a limo'

You could fairly say, the unknown is how much of Winnie is gas, and is it a mirage like the Pike River mine re-entry. 

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19 minutes ago, hesi said:

That was the conclusion I arrived at also

That might be right and what she was talking about. In that case, it might be more palatable to taxpayers. It is inevitable that the pokie revenue will sooner or later have to go back to communities, but if racing got say a couple of million a year for track infrastructure from that going forward. If you are right, and the government has already begun to negotiate the return of that funding to communities and that's what Jacinda was referring to, then fair play to them. The sports and overseas racing revenue should be next to be returned to taxpayers.

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8 minutes ago, hesi said:

Isn't this what NZTR should be pushing for, sort of

Thanks NZRB, for running the wagering operation that funds our business, but to be honest, what you return in profit does not allow us to grow our business or invest in new facilities

It does allow it. Just NZTR has chosen to waste all the distribution on stakes and not allocate anything to investment in tracks.

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17 minutes ago, Leggy said:

That might be right and what she was talking about. In that case, it might be more palatable to taxpayers. It is inevitable that the pokie revenue will sooner or later have to go back to communities, but if racing got say a couple of million a year for track infrastructure from that going forward. If you are right, and the government has already begun to negotiate the return of that funding to communities and that's what Jacinda was referring to, then fair play to them. The sports and overseas racing revenue should be next to be returned to taxpayers.

Yep there's the kicker.  Taxinda: "NZRB put your pokie revenue back into the community or lose it.  Return all sports derived revenue to the sports you got it from.  The Government will give you a one off loan to build an AWT."

 

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The NZRB formed their own trust so that they could administer the funds from gaming. That is one part of their business model that is actually growing, and they have invested in more sites, and have upgraded existing ones. What probably is in question is the costs involved in getting those funds that they return to the community, as by law, they have to return a %.

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1 hour ago, poundforpound said:

How do you measure operating costs v profit ?

I’d have thought you’d need to find similar global entities, Western Australia maybe, or Galop France, probably the latter actually as their industry seems to be set up similar to ours.

That’d be the only fair way to measure NZRB costs.

I agree. For example, although Qld has a similar population as NZ, Racing Qld supports Non-TAB meetings for no return to the Industry. These non-TAB meetings make up 39% of all races in Qld? Why do they support them? Because of the important Social and Cultural impact they have on rural communities. Where you can compare Qld v NZ is on Infrastructure spending. I think you'll find that NZ lags badly in this area. 

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The NZRB has a 100% water tight Class 4 gaming licence, just like say the St John’s Ambulance might have, and there’s really no chance they’ll ever lose that licence.

They can do what they like with the proceeds of the pokies in their venues, however, I agree that on moral grounds a substantial portion of those proceeds should go to the community from where they came.

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33 minutes ago, poundforpound said:

The NZRB has a 100% water tight Class 4 gaming licence, just like say the St John’s Ambulance might have, and there’s really no chance they’ll ever lose that licence.

They can do what they like with the proceeds of the pokies in their venues, however, I agree that on moral grounds a substantial portion of those proceeds should go to the community from where they came.

The NZRB may have a "100% water tight Class 4 gaming licence" but that doesn't preclude the ultimate licensor negotiating a trade off to appease political needs.  As far as I know St John's Ambulance don't have a licence.

I think the political grounds will out weigh any moral grounds.

I think Taxinda will demand a compromise that is politically tenable and that means a focus on the Class 4 license and sports gambling.

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2 hours ago, Ohokaman said:

The Tasmanians go to the polls shortly and Labour have said they will phase out pokies altogether because of problem gambling.

You can guarantee that will be watched closely.

We should follow suit. 

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21 minutes ago, CosmicBlackie said:

You’d have to find a way of replacing the 20 odd million of revenue that the pokies generate for racing if the above were to happen.

There are ways of doing that and we would have less gambling harm being done to our communities. 

 

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Agreed, no argument there. That age old debate of whether gambling should be supporting , well, gambling.

NZRB seem to have gone down that path, including the gaming turnover in their overall turnover, so its a significant investment for them.

They’d have to “unwind” and go down a significantly more different path, what that is, I don’t know.

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18 minutes ago, Ohokaman said:

...they will be gone.....

Fishing or down the mine??  Either way Peters won't give a damn--just tell me ONE thing he has done for the betterment of the country rather than his self interest. ( And don't bother regurgitating the Wine Box)

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1 hour ago, Midget said:

Just been reported the NZ First is now below the 5% threshold.Is this because of failed promises or other issues? 

With margin of error 3%.

Never thought you would be one to take notice of polls.

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1 hour ago, Ohokaman said:

NZF down to 3.8% in latest poll.....they will be gone.....and Peters with them......:lol:

A year after last election they were at 2%.Polls in non election years have proven in past to have no meaning

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On 1/30/2018 at 8:39 AM, 2Admin2 said:

Although Taxinda seemed confused in her statement I believe she was alluding to the financial benefit NZRB gets from pokies.  I wouldn't be surprised that any assistance offered by Government will be done on the condition that NZRB relinquishes their pokies license or totally commit to putting that revenue directly back to the community they derived it from.

Sorry - I haven't read or watched the Labour leader's (sorry - the PM's) comments but surely the racing industry would be crazy to agree to such a deal. Like P4P I believe the pokies are a blight on society but currently it is what it is so why would racing want to give that away. I don't know what the NZRB distribution from their pokie revenue is annually. I did see some figures from a gaming trust recently that said they had distributed $1m in their last round. So even "a round" say every 2 months equals $6m per annum, which I would suggest is reasonably small fry to some trusts. But taking that trust as an example, and if that's about what the NZRB returns, it wouldn't take many years to get to the quoted $20 million to fund an artificial track and even it's ongoing maintenance at say 20% per annum. So, if the NZRB wants to be proactive why don't they direct all revenues from their pokies to track infrastructure? And maybe that's not an artificial track that will only benefit those close too. Maybe it's a $x million investment over x number of years that will support x number of tracks, from the far north to however deep is needed to go in the south. And I would suggest that could mostly come direct from their pokie revenue, wrong as that may be but as aforementioned that is the way it is at the moment. Once that is done though there may well be some decent track facilities established which can support/provide an alternative when the unfortunate climatic conditions of late occur. And I must add that even though I live a long way from the City of Sails I am fully in support in recognising Ellerslie as our flagship venue. A Strathayr track, or whatever improvements there are to that, is a must - the Auckland RC probably have enough monies themselves to do it but whether that be the case or not it should be part of a bigger industry plan.

 In closing I would suggest we don't need government "conditions" on investment. The GDP alone should convince them of their need to invest and if the NZRB is everything it is made out to be in terms of revenue they are the first ones that should be putting monies forth.

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1 minute ago, Hawke's Bay Lad said:

Sorry - I haven't read or watched the Labour leader's (sorry - the PM's) comments but surely the racing industry would be crazy to agree to such a deal. Like P4P I believe the pokies are a blight on society but currently it is what it is so why would racing want to give that away. I don't know what the NZRB distribution from their pokie revenue is annually. I did see some figures from a gaming trust recently that said they had distributed $1m in their last round. So even "a round" say every 2 months equals $6m per annum, which I would suggest is reasonably small fry to some trusts. But taking that trust as an example, and if that's about what the NZRB returns, it wouldn't take many years to get to the quoted $20 million to fund an artificial track and even it's ongoing maintenance at say 20% per annum. So, if the NZRB wants to be proactive why don't they direct all revenues from their pokies to track infrastructure? And maybe that's not an artificial track that will only benefit those close too. Maybe it's a $x million investment over x number of years that will support x number of tracks, from the far north to however deep is needed to go in the south. And I would suggest that could mostly come direct from their pokie revenue, wrong as that may be but as aforementioned that is the way it is at the moment. Once that is done though there may well be some decent track facilities established which can support/provide an alternative when the unfortunate climatic conditions of late occur. And I must add that even though I live a long way from the City of Sails I am fully in support in recognising Ellerslie as our flagship venue. A Strathayr track, or whatever improvements there are to that, is a must - the Auckland RC probably have enough monies themselves to do it but whether that be the case or not it should be part of a bigger industry plan.

 In closing I would suggest we don't need government "conditions" on investment. The GDP alone should convince them of their need to invest and if the NZRB is everything it is made out to be in terms of revenue they are the first ones that should be putting monies forth.

Some smart people have done the analysis that shows racing's contribution to GDP is negative.

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26 minutes ago, 2Admin2 said:

Some smart people have done the analysis that shows racing's contribution to GDP is negative.

And that may well be true, I'm only going on what has been quoted and I am negligent in repeating that without investigating myself.  The point remains though, being that given their revenues NZRB should be able to fix this themselves - and without adhering to "government conditions/whims" that may see the industry poorer (if that is possible G@d forbid!)

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33 minutes ago, 2Admin2 said:

Some smart people have done the analysis that shows racing's contribution to GDP is negative.

Please tell me who these “smart people” are, as it’s codswhollop to me.

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7 minutes ago, Insider said:

Please tell me who these “smart people” are, as it’s codswhollop to me.

Why would you even listen to him, he hates everything about Racing because he’s a nobody in the game.

There are NO smart people and there’s NO such analysis.

How was your dinner at HQ ?

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2 minutes ago, poundforpound said:

Why would you even listen to him, he hates everything about Racing because he’s a nobody in the game.

There are NO smart people and there’s NO such analysis.

How was your dinner at HQ ?

No mate he knows everything about everything....nobody is smarter.:rolleyes:

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