RaceCafe..#1...Tipsters Thread.... Share Your Fancies For Fun...Lets See Who The Best Tipsters Here Are.
doric68

The tail wagging the dog

Recommended Posts

5 hours ago, doric68 said:

I have just read an article so is this true.Racing stakes are $50 million,costs to run the RIB is greater than that,more people employed with big money wages.Is this jobs for the boys & bugger the racing industry.

 

To balance your comment.......and the RITA accounts ,and NZRB accounts before them can be easily googled and read.

Last season the total expenses to run betting ,the TAB and NZRB etc etc were $142 million of which $61 mill was Wages,salaries. Depreciation [a non-cash item]was $16mill.

The profit was $137 mill........ie before paying the Codes [ for stakes and code specific costs ].

Doggies got $25 mill , Harness got $45 mill and Thoroughbreds got $81 mill.......so roughly $150 mill was paid to the Codes.

I can't see the Stakes figure only but have the 2017 report where code funding was $136.7 mill.

In 2017 Doggies got $22 m [ $12m for stakes] , Harness got $40.6m [ $30m for stakes] ,Thoroughbred got $74.7 m [ $54 mill for stakes]

So more was paid out ,than the profit .....maybe to 'save face' but also in the expectations of some 'windfalls'......less govt levy and Racefields !

Operating expenses and wages were down a little in 2019 , but a few years earlier they had 'surged'.......unrealistically in many minds !

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.