Alls not lost , performance .

[tripple alliance 1,026]

Update , abbreviated .

Performance
"" As has been previously signalled, the performance of the then New Zealand Racing Board for the 2018/19 financial year did not meet budget or forecast projections.  There were a number of reasons for this reduced turnover in the first half of the year with lower betting activity from Elite punters; lower margins in the second half, particularly in Sport; and customer disruption in January as we launched our new betting platform.

While the full year results for RITA will be outlined at the AGM in November (and featured in the pending Statement of Intent), the unaudited net profit for the 2018/19 financial year at $137 million was significantly below last year’s result of $145.9 million and well below the budgeted $173.5 million. In spite of this, distributions to the Codes for both the 2018/19 and 2019/20 season have been held at the current level of $151.6 million. 

It has been a reasonably positive start to the year with turnover and gross betting revenue both ahead of the same period last year. Our year to date net profit is in line with our budgeted forecast, so we remain cautiously optimistic of meeting our targets.
 
As you will know, promotional initiatives are in market to stimulate betting turnover for the Rugby World Cup campaign and it is tracking towards being a successful tournament. Turnover is above expectations, participation in the Try Time promotion is greater than originally expected and margin is up on expectations. While some of this is good fortune, there has been a considered effort to drive this through pricing, product promotion and market ordering decisions.
 
In the first week of the competition, 16,000 punters signed up for the TAB Tipping competition and there were more than 75,000 active customers - the most in a single week since Melbourne Cup week 2018.""

 

So not the end of the world , profits down around six million but not unexpected ,  parliament , as yet hasn't done it's job . Still waiting for the  Introduce Betting Information Use Charge and Point of Consumption tax legislation , sports betting showing good promise . 

 

[Swoopa 281]

When do "boys get pounded" start up again?

[Leggy 4,093]

4 hours ago, tripple alliance said:

So not the end of the world , profits down around six million but not unexpected ,  parliament , as yet hasn't done it's job . Still waiting for the  Introduce Betting Information Use Charge and Point of Consumption tax legislation , sports betting showing good promise .

I think you got your 6 upside down. Profit was down $9m and $36m shy of budget.

Also if you read the RITA release again it says " the Board should be in a position to have a further look at the timing of distribution of some of the new revenue streams such as the betting levy which is presently being collected."

[tripple alliance 1,026]

2 hours ago, Leggy said:

I think you got your 6 upside down. Profit was down $9m and $36m shy of budget.

Also if you read the RITA release again it says " the Board should be in a position to have a further look at the timing of distribution of some of the new revenue streams such as the betting levy which is presently being collected."

Easily resolved if the optimist is to be believed ,   the Betting Information Use Charges agreements  should be bringing in $250,000 every week."",  these agreements are not in place yet , politicians seem to be the problem .

That's  $13,000,000 just waiting to being collected , if that figure is  anywhere near accurate then all's well in the medium term  .

 

[Leggy 4,093]

10 minutes ago, tripple alliance said:

Easily resolved if the optimist is to be believed ,   the Betting Information Use Charges agreements  should be bringing in $250,000 every week."",  these agreements are not in place yet , politicians seem to be the problem .

That's  $13,000,000 just waiting to being collected , if that figure is  anywhere near accurate then all's well in the medium term  .

 

Except there's no basis for those figures. They are a pipedream based on erroneous or no data. I'd believe the DIA and Treasury which suggest the net revenue may be negative after collection costs. Using the IRD GST figures and the best peer reviewed research to base estimates, I'd say 10% of that is  more likely if they can enforce the BIUCs at reasonable cost. I wouldn't be counting on much additional revenue from that source myself unless NZ based punters suddenly decide they can afford to lose a lot more than they are now.

[tripple alliance 1,026]

1 hour ago, Leggy said:

Except there's no basis for those figures. They are a pipedream based on erroneous or no data. I'd believe the DIA and Treasury which suggest the net revenue may be negative after collection costs. Using the IRD GST figures and the best peer reviewed research to base estimates, I'd say 10% of that is  more likely if they can enforce the BIUCs at reasonable cost. I wouldn't be counting on much additional revenue from that source myself unless NZ based punters suddenly decide they can afford to lose a lot more than they are now.

The term ''suggest'' is a problem with your summation ,  the truth is you simply don't know and PEER reviewed , by who ?? .

What's happened today is the doom merchants are having to face the fact that all's not lost as some have been suggesting , yourself included .

You may choose to reflect on some of your own history when it comes to racing and racing management  , it hardly inspires confidence .

[tripple alliance 1,026]

Where's lights out ?? , he's had plenty to say , where are you lights out lets hear your thoughts (keep it short )

[Leggy 4,093]

2 hours ago, tripple alliance said:

You may choose to reflect on some of your own history when it comes to racing and racing management  , it hardly inspires confidence .

Thanks for the suggestion TA but given I've never had a role in racing management it will be a pretty short reflection.

2 hours ago, tripple alliance said:

and PEER reviewed , by who ?? .

Stupid question. Given that peer review is a double blind process if I knew who reviewed it, it wouldn't be peer reviewed research would it?

[tripple alliance 1,026]

11 hours ago, Leggy said:

Thanks for the suggestion TA but given I've never had a role in racing management it will be a pretty short reflection.

Stupid question. Given that peer review is a double blind process if I knew who reviewed it, it wouldn't be peer reviewed research would it?

Dictionary , peer review .''  evaluation of a person's work or performance by a group of people in the same occupation, profession, or industry.''  NOTHING about double blind . Wikip the same or similar .