tripple alliance 1,026 Report post Posted April 5, 2019 You will know that the NZRB distributed $150.8m (excluding proceeds from gaming) in funding to the Codes for the 2017/18 season - the year before, it was $138.6m. This year we expect the Board to meet its commitments to Codes in relation to distributions which will match 2018/19 levels and anticipate a net profit before distributions ahead of last year of around $155m. In relation to racing, turnover has been down on what we expected which is a consequence of having less racing product to bet on in both Australia and New Zealand (the number of starting horses in New Zealand in March was for example down 367 on March last year) and a slower than anticipated takeup of the new betting platform by some traditional racing punters. We are however deriving higher than expected margins from our racing betting. Looking forward to next season, the reality is that with the range of changes currently being discussed it is simply not possible to provide concrete certainty about distribution levels. I am hopeful racefields and point of consumption charges will be legislated and can be collected from the commencement of, or at least early in the season and that the requirement for the Board to pay duty on betting will be abolished. If this happens it will lead to new revenues being distributed to the Codes. So stakes flat at best and the delay in racefields and point of consumption charges is proving costly . Full article on NZ racing news . Quote Share this post Link to post Share on other sites More sharing options...
Patiti 274 Report post Posted April 5, 2019 Define traditional punter. Is this the computer illiterate. No mention of the teething problems or under performance of the FOB platform. Where do I find the NZ racing news. Quote Share this post Link to post Share on other sites More sharing options...
slam dunk 1,317 Report post Posted April 5, 2019 Wasn't the higher distribution last year due to borrowing. Thats the type of business formula Bernie Madoff followed. So with the $50M spend up on technology John Allen is able to fleece more out of a diminishing pool of punters. Hardly a level playing field for the punters. Guess where that is heading. Quote Share this post Link to post Share on other sites More sharing options...
von Smallhaussen 3,226 Report post Posted April 5, 2019 2 hours ago, tripple alliance said: 2 hours ago, tripple alliance said: (the number of starting horses in New Zealand in March was for example down 367 on March last year) and a slower than anticipated takeup of the new betting platform it is simply not possible to provide concrete certainty about distribution levels. If this happens This does not sound like the very positive John that we have all come to expect Insider 1 Quote Share this post Link to post Share on other sites More sharing options...
Littletramp 390 Report post Posted April 5, 2019 3 hours ago, tripple alliance said: In relation to racing, turnover has been down on what we expected which is a consequence of having less racing product to bet on in both Australia and New Zealand (the number of starting horses in New Zealand in March was for example down 367 on March last year) and a slower than anticipated takeup of the new betting platform by some traditional racing punters. We are however deriving higher than expected margins from our racing betting. Have they ever considered that this may be a factor in betting turnover is falling? Quote Share this post Link to post Share on other sites More sharing options...
Patiti 274 Report post Posted April 5, 2019 367 down No of meetings and races the same?? Harness Gallops or both?? Needs a bit more analysis. Just a number plucked out of the air at the moment. Number of dogs seem to have dropped remarkably last few weeks. Not sure whats happening there. Also offerings from overseas esp Aus, are they down as well.????????????????? Would like to see a more detailed picture that might lead to proper projections. Quote Share this post Link to post Share on other sites More sharing options...
Eclipsed 250 Report post Posted April 6, 2019 John Allen should stand for parliament next year. His spin is uplifting..... "Reported net profit for the first half of 2018/19 was $76.2 million, $2.8 million or 3.5% down on last year, a result impacted by the absence of anticipated Racefield’s legislation" Help me understand how a downwards trending result can be a factor of something that wasn't there last year and aint there this year either?? Income from racing plummeted by $8m for this 6 months on the same period last year however sports betting and pokies smoothed some of that chasm. The half yearly report has an Ariadne feeling with Bruce Judge at the helm.... NZRB's Equity at 2017 $69.3m NZRB's Equity at 2018 $53.5m NZRB's Equity at Jan 2019 $38.2m Fear not, as although borrowings from the bank have lifted from $10m mid 2018 to $25m at January 2019, the NZRB's liquidity is as good as gold. "At balance date, NZRB had available (undrawn) $10 million under its rolling credit bank facility" - how reassuring. Pam Robson, hedley, Midget and 2 others 1 1 3 Quote Share this post Link to post Share on other sites More sharing options...
Phantom 494 Report post Posted April 6, 2019 He is so full of shit. On $660K+ a year, been there five years and achieved absolutely nothing, spent $50m+ that the industry doesn't have on the worst betting platform you could imagine. And as for blaming the absence of Race Fields Legislation for falling turner is spin that Mitch McConnell would be proud of. Time to put the shot putter and return Postman Pat to sender, the board that appointed these clowns should be ashamed to show their faces in public. Midget, THE TORCH, Leggy and 3 others 5 1 Quote Share this post Link to post Share on other sites More sharing options...
Insider 3,961 Report post Posted April 6, 2019 3 hours ago, Phantom said: He is so full of shit. On $660K+ a year, been there five years and achieved absolutely nothing, spent $50m+ that the industry doesn't have on the worst betting platform you could imagine. And as for blaming the absence of Race Fields Legislation for falling turner is spin that Mitch McConnell would be proud of. Time to put the shot putter and return Postman Pat to sender, the board that appointed these clowns should be ashamed to show their faces in public. I couldn’t agree more. How their performances over the last 5 years can be supported by anyone is totally beyond me. The success or failure of any business is measured in it’s profitability and balance sheet. Look at theirs and the flow on effect which Is in free fall for all participants. chelseacol, Midget, hedley and 2 others 4 1 Quote Share this post Link to post Share on other sites More sharing options...
Tauhei Notts 1,413 Report post Posted April 6, 2019 I have been very critical in the past of the NZ Racing Board, and I believe my criticism has been justified. So, this morning I wish to compliment them on their live coverage of the Grand National Steeplechase from Aintree. It was wonderful. Red Rum 1 Quote Share this post Link to post Share on other sites More sharing options...
Phantom 494 Report post Posted April 6, 2019 1 minute ago, Tauhei Notts said: I have been very critical in the past of the NZ Racing Board, and I believe my criticism has been justified. So, this morning I wish to compliment them on their live coverage of the Grand National Steeplechase from Aintree. It was wonderful. Shame the TAB were closed so you couldn't bet on it! Quote Share this post Link to post Share on other sites More sharing options...
Red Rum 1,833 Report post Posted April 6, 2019 21 minutes ago, Tauhei Notts said: I have been very critical in the past of the NZ Racing Board, and I believe my criticism has been justified. So, this morning I wish to compliment them on their live coverage of the Grand National Steeplechase from Aintree. It was wonderful. Was great coverage , as was the Arc, Cheltenham , DWC night ,and iam sure Royal Ascot, Kentucky Derby will be too. I appreciate being able to watch these big racing events and build up is covered pretty well. Midget 1 Quote Share this post Link to post Share on other sites More sharing options...
Charlie Bukowski 411 Report post Posted April 6, 2019 If JA stuck his hand up and admitted the website wasn't up to scratch and needed to be better , I am sure he would get the support of 99% of all the punters in this country, (1% thinks it's great and WE should learn to navigate it better) C'mon John , be a man John Insider 1 Quote Share this post Link to post Share on other sites More sharing options...
Phantom 494 Report post Posted April 6, 2019 2 minutes ago, Charlie Bukowski said: If JA stuck his hand up and admitted the website wasn't up to scratch and needed to be better , I am sure he would get the support of 99% of all the punters in this country, (1% thinks it's great and WE should learn to navigate it better) C'mon John , be a man John Do you think he has any idea how bad it is? hedley, Insider, Midget and 1 other 3 1 Quote Share this post Link to post Share on other sites More sharing options...
Charlie Bukowski 411 Report post Posted April 7, 2019 Just get him to read out today's scratchings for me !! How the fk they they manage to put up Fridays scratchings is both incompetent and embarrassing and how much did they pay for this crapsite but you are right , he would not have a clue Midget and hedley 1 1 Quote Share this post Link to post Share on other sites More sharing options...
Charlie Bukowski 411 Report post Posted April 7, 2019 Oops , might have been my computer , refreshed and they are there but still !! Quote Share this post Link to post Share on other sites More sharing options...
Patiti 274 Report post Posted April 7, 2019 Showing Saturdays now. Sure it had todays earlier Now todays again Quote Share this post Link to post Share on other sites More sharing options...
Phantom 494 Report post Posted April 7, 2019 On 4/6/2019 at 5:45 AM, Eclipsed said: John Allen should stand for parliament next year. His spin is uplifting..... "Reported net profit for the first half of 2018/19 was $76.2 million, $2.8 million or 3.5% down on last year, a result impacted by the absence of anticipated Racefield’s legislation" Help me understand how a downwards trending result can be a factor of something that wasn't there last year and aint there this year either?? Income from racing plummeted by $8m for this 6 months on the same period last year however sports betting and pokies smoothed some of that chasm. The half yearly report has an Ariadne feeling with Bruce Judge at the helm.... NZRB's Equity at 2017 $69.3m NZRB's Equity at 2018 $53.5m NZRB's Equity at Jan 2019 $38.2m Fear not, as although borrowings from the bank have lifted from $10m mid 2018 to $25m at January 2019, the NZRB's liquidity is as good as gold. "At balance date, NZRB had available (undrawn) $10 million under its rolling credit bank facility" - how reassuring. Winter is coming... Quote Share this post Link to post Share on other sites More sharing options...
Eclipsed 250 Report post Posted April 8, 2019 A person I was chatting to said “what’s equity?” I used the example that In 2017 the business I owned had net assets of $69.3 million and there were no borrowings. In January 2019 that same business had net assets of $63.5 million but we now had bank borrowings of $25million So not only had the value of the business gone backwards, it had also “mortgaged” itself up by a not inconsequential sum and was intending to get even deeper in debt. The friend asked how borrowings would be repaid? Sadly the NZRB hasn’t publicly said how this will happen and most likely because it will be somebody else’s problem - Hughes, Allen et al will have moved on. Winter is approaching Phantom. Midget, ADM and Insider 3 Quote Share this post Link to post Share on other sites More sharing options...
gubellini 4,004 Report post Posted April 8, 2019 Yesterday at Pukekohe we had R65 horses running around for $10,000 and R72 horses racing for $11,000. Sobering to realise that John Allen is paid this amount every week regardless of performance. If he was a horse his form summary would read- Racing well below par and hard to see a form reversal here. Midget, Phantom, napier and 4 others 6 1 Quote Share this post Link to post Share on other sites More sharing options...
von Smallhaussen 3,226 Report post Posted April 8, 2019 11 hours ago, gubellini said: Yesterday at Pukekohe we had R65 horses running around for $10,000 and R72 horses racing for $11,000. Sobering to realise that John Allen is paid this amount every week regardless of performance. If he was a horse his form summary would read- Racing well below par and hard to see a form reversal here. Now look at them yo-yo's, that's the way you do itYou play the guitar on the MTVThat ain't workin', that's the way you do itMoney for nothin' and your chicks for free Phantom 1 Quote Share this post Link to post Share on other sites More sharing options...
Tauhei Notts 1,413 Report post Posted April 8, 2019 If the figures posted by Eclipsed are correct, that the equity of NZRB dropped from 53.5 to 38.2 in six months; then how come Racecafe is the only place showing any worry about that dreadful trend. This is alarming in the extreme. My old lawyer mate, who is so old that he raced a horse by Test Case, told us on Saturday that he no longer has a share in a racehorse and that whilst John Allen runs the show, he will not have another share in a racehorse. This matter has now become extremely serious. Midget 1 Quote Share this post Link to post Share on other sites More sharing options...
We're Doomed 4,866 Report post Posted April 8, 2019 8 minutes ago, Tauhei Notts said: I My old lawyer mate, who is so old that he raced a horse by Test Case, told us on Saturday that he no longer has a share in a racehorse and that whilst John Allen runs the show, he will not have another share in a racehorse. This matter has now become extremely serious. I'm sure John's answer to that would be "that's ok, I don't have a share in a horse either". Midget 1 Quote Share this post Link to post Share on other sites More sharing options...
tripple alliance 1,026 Report post Posted April 8, 2019 1 hour ago, Tauhei Notts said: If the figures posted by Eclipsed are correct, that the equity of NZRB dropped from 53.5 to 38.2 in six months; then how come Racecafe is the only place showing any worry about that dreadful trend. This is alarming in the extreme. Could be tactics , what better way to force change , when the money runs out the choices and the opposition to change are gone . Quote Share this post Link to post Share on other sites More sharing options...
hedley 1,900 Report post Posted April 8, 2019 Management by crisis Quote Share this post Link to post Share on other sites More sharing options...