tripple alliance

Update April. John Allen

36 posts in this topic

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 .

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites
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 :rcf-sad-2:

Share this post


Link to post
Share on other sites
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?

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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. 

Share this post


Link to post
Share on other sites
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. 

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites
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!

Share this post


Link to post
Share on other sites
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.

Share this post


Link to post
Share on other sites

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 

Share this post


Link to post
Share on other sites
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?

Share this post


Link to post
Share on other sites
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...

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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. 

Share this post


Link to post
Share on other sites
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 it
You play the guitar on the MTV
That ain't workin', that's the way you do it
Money for nothin' and your chicks for free

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites
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".

Share this post


Link to post
Share on other sites
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 .

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now