Distribution up .

[tripple alliance 1,026]

2016,  Net Profit before Distributions reached $146.7 million and a record $135.3 million was distributed to the three racing Codes with a further $1.4 million provided from Net Profit after Distributions following a Board decision in September 2016.

2017, distributing $137.6 million to the three racing Codes and making Commission payments of $9.3 million to National Sporting Organisations - up 16.1% on last year. We also provided $3.0 million to grassroots sports from gaming.

2018, Including the investment in its strategic initiatives, reported net profit was $145.9 million, $1.9 million (1.3%) ahead of last year, despite the delay in ‘Racefields’ legislation which was budgeted to provide more than $4.9 million to racing.  Financial highlights released ahead of the NZRB’s 2018 Annual Report, which is due out later this year, include distributions to the three racing codes reaching a record $148.2 million, an increase of $10.6 million on last year. A further $1 million was allocated from NZRB’s industry enhancement funds to improve stakes, infrastructure and youth development.

 

A result that's travelling in the right direction , the question is will it have an impact on the Messara reports recommendation to outsource the TAB .

[tripple alliance 1,026]

Here's a question for those who know , if the 3 codes are getting an extra $10.6  million this year how much will the gallopers get , and if this money all goes into stakes how much will that lift stakes per race if it's spread equally across all races and another question , if racefields legislation had returned the extra $4.9 million how much could stakes have lifted then .

A friend of mine thinks maidens on a Thursday could have gone to $13000 if $15.5million  was the distribution amount , was this possible , anyone know .

[tripple alliance 1,026]

19 hours ago, tripple alliance said:

Here's a question for those who know , if the 3 codes are getting an extra $10.6  million this year how much will the gallopers get , and if this money all goes into stakes how much will that lift stakes per race if it's spread equally across all races and another question , if racefields legislation had returned the extra $4.9 million how much could stakes have lifted then .

A friend of mine thinks maidens on a Thursday could have gone to $13000 if $15.5million  was the distribution amount , was this possible , anyone know .

Nobody knows , surprizing , let's try another approach , can anyone tell me what % of the extra $10.6 million thoroughbred racing gets and how many races will be run this season , it looks like I'll have to do the maths myself . 

This seems to be a big result for racing and I'm surprized those who oppose track closures aren't all over this one , if this result is projected forward 3 seasons and is achievable then closing tracks won't be necessary .

[ivanthegreat 1,123]

Amazing to think that after sucking all the cream off the top of the industry to improve the betting platform they are considering flogging it off to the Australians.

We have first had knowledge of how we will be looked after ....... have a look at the banking system. Newspapers as well

[drewandjo 129]

good luck believing a single word coming out of the Racing Board

[CosmicBlackie 128]

I wonder where the revolving credit facility is sitting at the moment.

[LightsOut 486]

Net profit might be up 1.9 million but  wonder how much the NZRB owe the bank now compared to 12 months ago. Just another typical spin doctoring of accounts by the CEO who is only hanging in there to collect his over exuberant salary.  NZRB only tell the Industry what they want to hear not what they should be hearing.  When the true facts become transparent it might be far worse than most would imagine. Once upon a time the TAB (now NZRB) worked for the Industry but sadly how times have changed.

Quote

Including the investment in its strategic initiatives,

Just a little bit farcical using the word 'investment' after we have seen proven so often in the past with so called management 'strategic' initiatives becoming a 'liability' eg Typhoon & 20 million plus squandered. How much is the Betting Platform costing and what is the arrangement with Paddy Power ? The Industry doesn't know because supposedly it's sensitive information yet the Industry is paying and it will ultimately determine the future of it. Initial cost 28-30 million yet months late on implementing means millions more in costs so what are the true costs? A black hole is space would be more transparent that the NZRB. Remember there are two costs the Betting Platform and the cost of Paddy Power two completely different identities.

Quote

A result that's travelling in the right direction , the question is will it have an impact on the Messara reports recommendation to outsource the TAB .

Ummm hello the NZRB is already outsourcing at an extra cost to the Industry of millions over a 5 year partnership with Paddy Power (mentioned overseas) which is the same deal they did with France. France had no experience in sports betting that's why they got Paddy Power involved yet the NZRB has had 30 years ?? A yearly fixed fee plus % of profit one would expect. Go with TAB Corp and the the Industry will be paying out on what is left of the partnership agreement. Who in business ties up  their company for a new deal of 5 years most do it for 12 month to 2 years maximum. There is only winner out of the Paddy Power partnership, do you think the management care more about the NZ Racing Industry than a better return for their shareholders (no doubt senior management hold untold shares in their company). The moment the Minister requested a full report on the state of the Industry including the NZRB the Betting Platform should have been put on hold as it's future will be determined by what comes from the report. Be interesting to know exactly what Paddy Power are been used for trading wise. The NZRB is using Paddy Power management to manage the product, yet the NZ Industry has invested tens of millions over the years on managers to improve their experience, knowledge and ability for a better return overall. No doubt the Paddy Power partnership will ensure that management numbers in the NZRB is dramatically reduced as their roles should become surplus to requirements .      

[ivanthegreat 1,123]

 

[tripple alliance 1,026]

4 hours ago, LightsOut said:

Net profit might be up 1.9 million but  wonder how much the NZRB owe the bank now compared to 12 months ago. Just another typical spin doctoring of accounts by the CEO who is only hanging in there to collect his over exuberant salary.  NZRB only tell the Industry what they want to hear not what they should be hearing.  When the true facts become transparent it might be far worse than most would imagine. Once upon a time the TAB (now NZRB) worked for the Industry but sadly how times have changed.

A couple of things , it's possible the OD is an issue but that will be attributed to the advance the RB made to the industry for 10k minimums which was based on the proposed racefields legislation ,  Winston has now cancelled that and in doing so has given the RB a genuine excuse for any future financial failures .  An old saying , never look a gift horse in the mouth , be happy they are handing out an extra $10.6 million for the year , that's a big lift  and the TAB has never been NZRB .

 I think a departure package would be more enticing to hang around for rather than a salary , but anyway let's be fair , $10.6 million is being delivered , that's a big result , it's possible nobody is going any where .

[LightsOut 486]

The advance to the Industry is totally due to the poor performance of the NZRB management over the last few years and especially the last 2 years. The 10.6 million doesn't equate well to the overdraft of what it cost to prop stake money up and the race field fee wouldn't go close to covering it, its simple mathematics not rocket science. There is a good reason why Winston stopped the racefield legislation fee which should have been obvious to management. The TAB and NZRB have never been the same quite obviously as in name but the reason for their establishment is the same and that is  to return the best possible financial return to the NZ Racing Industry and I think for that reason not eventuating as it should be you will find very soon there may well be a few people going somewhere once the true financial situation and other facts are fully known. Watch this space.

[chiknsmack 486]

38 minutes ago, LightsOut said:

There is a good reason why Winston stopped the racefield legislation fee which should have been obvious to management.

Because he wants to go to bat for the industry as sparingly as possible, since doing so costs him political capital (he has to put up with media coverage saying he's only helping out his rich horse racing mates, plus he has to negotiate with the Greens to get anything done).

Also, if he prevents the racing industry from getting the relief that racefields may bring, participants will be all the more willing to do whatever he wants. There are plenty of people running around saying "We need to accept the whole Messara report at once because Winston is the only person who can save us, and that's what he wants". If he'd let Racefields legislation pass and it was successful, not only would he not have gotten all of the credit (the legislation was being moved forward by the previous goverment) but also, if it had noticeably increased stakes, industry participants wouldn't be quite so desperate for change and he wouldn't have us bent over ready to accept whatever he wants.

I don't mind Winston, and I like that he cares about racing. But I think the fact that he largely associates with the top end of town means that the ideas he has to help the industry don't help the whole industry. Case in point: last time he was Racing Minister he said "You can have $3m/year of taxpayer money for stakes, but you have to put it into these five races". NZTR pushed back and asked if they could have the money but spread it wider; Winston said no.

 

38 minutes ago, LightsOut said:

The TAB and NZRB have never been the same quite obviously as in name but the reason for their establishment is the same and that is  to return the best possible financial return to the NZ Racing Industry and I think for that reason not eventuating as it should be you will find very soon there may well be a few people going somewhere once the true financial situation and other facts are fully known.

Good. NZRB (and NZTR, and to a much lesser extent the other codes) have been doing a crap job for a long time and are largely to blame for us being where we are.

[rdytdy 5,341]

I note that they have dropped fixed odds betting for Touch Tone but continued with all tote betting. 

Anyone know the reason for this?   

[tonkatime 323]

27 minutes ago, rdytdy said:

I note that they have dropped fixed odds betting for Touch Tone but continued with all tote betting. 

Anyone know the reason for this?   

Would it be something to do with touch tone not being compatible with with there new platform when it’s launched?