poundforpound

Winston not happy with Brian de Licker ?

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National Yearling Sales at Karaka  
26 January 2020  
Speech 
Rt Hon Winston Peters, Minister of Racing 
 

Good morning. 

It is a pleasure to be here on opening day of the 2020 National Yearling Sales Series.

Let us all acknowledge Sir Peter Vela and the Vela family for their outstanding contribution to the New Zealand racing industry, and continued support.

And a warm welcome to the Sales Series. This includes a special welcome to those who are visiting or watching from overseas.

This year is the 94th edition of the National Yearling sales. 

And 2020 has produced an impressive catalogue.  Yet again it enhances New Zealand’s reputation for high quality racing bloodstock.

Horses sold here at Karaka go on to have outstanding success both at home and abroad. 

Over 80 per cent of Group One winners in New Zealand last season were sourced at New Zealand Bloodstock. 

More than half of all Group One winners in Hong Kong last season were Karaka graduates. 

And New Zealand-bred horses have had similar success in Australia, Singapore, Malaysia and Macau. 

So over the next few days there are many reasons to bid high and buy well !

The government has a clear vision for this industry and the need to protect and promote this great sport.

The new Racing Industry Bill was introduced to Parliament just prior to Christmas and is presently before a select committee.

This once great industry is at the crossroads. It is time for the industry to work together and use the opportunity before it.

And yet there are some willingly spreading falsehoods and misinformation.

Ignorance will suffocate this industry, not save or grow the industry.

One trade publication has made a series of claims which must be rebutted.

Revenue

It has been claimed “racing is in the worse state it has ever been in its 175 year history”.

Here are facts.  The government has already announced removing the betting levy - a 4 percent tax on annual betting profit.  

Last year’s racing bill also enacted a Point of Consumption charge, and the offshore user charge. RITA is already reaching commercial arrangements on the user charges – more revenue.

Once these revenue streams have come into full effect there will be about $25 million in additional revenue for the industry. This isn't just theoretical - the TAB is already ring-fencing betting duty savings for the industry.

Intellectual Property

It has been claimed the new bill is “stealing the crown jewels - intellectual property” from the codes.

This is not correct. What the bill offers is in effect a continuation of the status quo for IP.  The TAB will be negotiating the aggregate IP for the all codes. Fragmenting your IP will cost you money not make you money. No IP has been stolen from anyone.

Governance 

It has been claimed racing needs “its own Magna Carta” and the bill is about “total control by the Minister with Marxist-type bureaucratic regulatory control”

Not correct. Many of the Ministerial functions already exist in current law.  And the bill transfers racing functions to the codes while RITA will no longer exist. 

And concerns about Ministerial functions are misplaced. They can be triggered at the request of a code to help resolve problems, such as racetrack consolidation.

More is being done for this industry over the last 18 months than has been done in decades.

• The industry wanted a review and a change of governance to the NZ Racing Board – it is being provided.
• The industry wanted tax relief measures. It is being provided.
• The industry wanted other revenue sources. It is being provided.
• The industry want to address racetrack consolidation – and the means and mechanism to do so is being provided.
 
While some of you may want to write a racing “Magna Carta” this government seeks to create genuine change.

Those who doubt this should ask themselves the question – “where would the industry be if the status quo was allowed to prevail?”

Dean McKenzie from RITA has been talking to many of you in the industry and he has good information for which you should keep an open mind.

The Government said it will change this industry for the better and we are. 

There is still much work to do, but we are committed to seeing through the reform of the racing industry so that the industry is revitalised, healthy and financially viable. 

On the following issues remember there is a Racing Bill before Parliament with submissions closing on the 11th of February. 

Whether it is Race Fields/Point of Consumption or provision to be made for ‘flow through’ to the codes officials are already working with the Select Committee about addressing this.

Or on the codes needing to have representation on the Board of TAB NZ.  We hear you but surely we don’t want to go back to where things were in 2003.  

We’re looking at ways to ensure that the heart of this industry gains control of its destiny. 

Or on the need for separation of TAB NZ and Government.  

‘An outsourcing decision is a commercial decision in the best interests of the industry’. That’s the claim but if an outsourcing decision ends up in an asset sale where would we have got ourselves? 

However, let’s flip that on its head and consider a caveat to what the Government will not approve i.e. the industry allowed to reach any outsourcing or JV arrangement as long as it is not an asset sale beyond a certain threshold.

Submissions close on the 11th of February.  We’re here to listen and I trust every critic of this legislation has made their submission.

For these reasons, you should remain confident about this great sport.

And we all look forward to contributing to as well as celebrating the future successes of the next generation of Karaka graduates.

Again, enjoy your time at Karaka and good luck to those buying and selling.

It is a pleasure to declare the 2020 National Yearling Sales open.

And see you again next year.

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1 hour ago, poundforpound said:

National Yearling Sales at Karaka  
26 January 2020  
Speech 
Rt Hon Winston Peters, Minister of Racing 
 

Good morning. 

It is a pleasure to be here on opening day of the 2020 National Yearling Sales Series.

Let us all acknowledge Sir Peter Vela and the Vela family for their outstanding contribution to the New Zealand racing industry, and continued support.

And a warm welcome to the Sales Series. This includes a special welcome to those who are visiting or watching from overseas.

This year is the 94th edition of the National Yearling sales. 

And 2020 has produced an impressive catalogue.  Yet again it enhances New Zealand’s reputation for high quality racing bloodstock.

Horses sold here at Karaka go on to have outstanding success both at home and abroad. 

Over 80 per cent of Group One winners in New Zealand last season were sourced at New Zealand Bloodstock. 

More than half of all Group One winners in Hong Kong last season were Karaka graduates. 

And New Zealand-bred horses have had similar success in Australia, Singapore, Malaysia and Macau. 

So over the next few days there are many reasons to bid high and buy well !

The government has a clear vision for this industry and the need to protect and promote this great sport.

The new Racing Industry Bill was introduced to Parliament just prior to Christmas and is presently before a select committee.

This once great industry is at the crossroads. It is time for the industry to work together and use the opportunity before it.

And yet there are some willingly spreading falsehoods and misinformation.

Ignorance will suffocate this industry, not save or grow the industry.

One trade publication has made a series of claims which must be rebutted.

Revenue

It has been claimed “racing is in the worse state it has ever been in its 175 year history”.

Here are facts.  The government has already announced removing the betting levy - a 4 percent tax on annual betting profit.  

Last year’s racing bill also enacted a Point of Consumption charge, and the offshore user charge. RITA is already reaching commercial arrangements on the user charges – more revenue.

Once these revenue streams have come into full effect there will be about $25 million in additional revenue for the industry. This isn't just theoretical - the TAB is already ring-fencing betting duty savings for the industry.

Intellectual Property

It has been claimed the new bill is “stealing the crown jewels - intellectual property” from the codes.

This is not correct. What the bill offers is in effect a continuation of the status quo for IP.  The TAB will be negotiating the aggregate IP for the all codes. Fragmenting your IP will cost you money not make you money. No IP has been stolen from anyone.

Governance 

It has been claimed racing needs “its own Magna Carta” and the bill is about “total control by the Minister with Marxist-type bureaucratic regulatory control”

Not correct. Many of the Ministerial functions already exist in current law.  And the bill transfers racing functions to the codes while RITA will no longer exist. 

And concerns about Ministerial functions are misplaced. They can be triggered at the request of a code to help resolve problems, such as racetrack consolidation.

More is being done for this industry over the last 18 months than has been done in decades.

• The industry wanted a review and a change of governance to the NZ Racing Board – it is being provided.
• The industry wanted tax relief measures. It is being provided.
• The industry wanted other revenue sources. It is being provided.
• The industry want to address racetrack consolidation – and the means and mechanism to do so is being provided.
 
While some of you may want to write a racing “Magna Carta” this government seeks to create genuine change.

Those who doubt this should ask themselves the question – “where would the industry be if the status quo was allowed to prevail?”

Dean McKenzie from RITA has been talking to many of you in the industry and he has good information for which you should keep an open mind.

The Government said it will change this industry for the better and we are. 

There is still much work to do, but we are committed to seeing through the reform of the racing industry so that the industry is revitalised, healthy and financially viable. 

On the following issues remember there is a Racing Bill before Parliament with submissions closing on the 11th of February. 

Whether it is Race Fields/Point of Consumption or provision to be made for ‘flow through’ to the codes officials are already working with the Select Committee about addressing this.

Or on the codes needing to have representation on the Board of TAB NZ.  We hear you but surely we don’t want to go back to where things were in 2003.  

We’re looking at ways to ensure that the heart of this industry gains control of its destiny. 

Or on the need for separation of TAB NZ and Government.  

‘An outsourcing decision is a commercial decision in the best interests of the industry’. That’s the claim but if an outsourcing decision ends up in an asset sale where would we have got ourselves? 

However, let’s flip that on its head and consider a caveat to what the Government will not approve i.e. the industry allowed to reach any outsourcing or JV arrangement as long as it is not an asset sale beyond a certain threshold.

Submissions close on the 11th of February.  We’re here to listen and I trust every critic of this legislation has made their submission.

For these reasons, you should remain confident about this great sport.

And we all look forward to contributing to as well as celebrating the future successes of the next generation of Karaka graduates.

Again, enjoy your time at Karaka and good luck to those buying and selling.

It is a pleasure to declare the 2020 National Yearling Sales open.

And see you again next year.

He retains his sense of humour doesn't he , the last line .

"And see you again next year" , yea rite .

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2 hours ago, poundforpound said:

Last year’s racing bill also enacted a Point of Consumption charge, and the offshore user charge. RITA is already reaching commercial arrangements on the user charges – more revenue.

Once these revenue streams have come into full effect there will be about $25 million in additional revenue for the industry.

Did you mean Brian De LIquor?

Seems he and Winnie do share some of the same delusions as above though.

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(This current term)Can anyone tell me what has Winston Peters done so far that has up to today put more money back into Stake money. Not promises.

Was there anything said today that would make you invest in a yearling ?

Edited by newbie85

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2 hours ago, poundforpound said:

‘An outsourcing decision is a commercial decision in the best interests of the industry’. That’s the claim but if an outsourcing decision ends up in an asset sale where would we have got ourselves? 

Anyone get the connection between outsourcing of wagering services and asset sales? What would be being sold?

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We hear you but surely we don’t want to go back to where things were in 2003.  

2003 Wellington Cup Stake $250,000 - 2020 Wellington Cup Stake $250,000 - and this new Bill is going to double the stakes?? must be one hell of plan when in 17 years that race hasn't seen $.01 added to it. Unfortunately living in Fairy Land aka 106-110 Jackson Street Petone 

Quote

The Government said it will change this industry for the better and we are.

Ha ha they said they were going to change a lot of things. Poor old Winston has jumped the gates a little early on that call. Only few months until the next election, pity he can't say  "The Government said it will change this industry for the better and we have."

Any trainer with spare blinkers,era plugs and boring poles might like to consider sending those items as a belated Xmas present to Winston

 

Hopefully the one thing this Government will be changing is a voting swing away from them. 

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22 minutes ago, LightsOut said:

Hopefully the one thing this Government will be changing is a voting swing away from them. 

Love him or hate him (Winston) what alternative does the industry have as far as interested politicians from the main two parties??? 

At least he's trying to move us forward :rcf-thinking-1:

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27 minutes ago, LightsOut said:

2003 Wellington Cup Stake $250,000 - 2020 Wellington Cup Stake $250,000 - and this new Bill is going to double the stakes?? must be one hell of plan when in 17 years that race hasn't seen $.01 added to it. Unfortunately living in Fairy Land aka 106-110 Jackson Street Petone 

 

Lucky you are but a youngster Lights Out. Back in 1991 the Cup was worth $300,000.

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Go and put a fee on bets placed in Australia on NZ based sporting games. Trade relation reciprocity exists between NZ and Australia so does anyone with half a brain not think that Australia will turn around and mirror the fee. Not hard top work out who the big real loser will be when it happens. Bad call including sports in the collection of fees they will open up a can of worms that will see the Industry having to fork out millions more than they receive. To be fair probably in line with the current Government's thinking so no surprise really.

The racing side of reciprocity between the two countries works out fine but once again the Racing Industry will pay the huge price involving Sports. 

Remember it took them a while to finally work out that if you want to pay the same sporting odds as overseas that's great for the punter but sadly not so great for the Industry when you factor in your still going to have to pay the NZ sporting codes for bets taken on overseas sports games that involve their sports. That will work well getting clipped on the ticket in both countries on sports betting. %$#k me.

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At least he's trying to move us forward

Your right I just heard that he is looking to supply the item below to all and sundry in the Industry to help that move forward. He received one for Xmas and swears by it for its help to move forward.

Image result for old peoples walker"

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14 hours ago, Leggy said:

Oh. Is that considered an asset?

The TAB.....well it would be if it was well run and not too top heavy. 
Having said that; Dean McKenzie assures me that he has costs, expenditure, under control. 
I will believe it when I see it. 
Sorry Deano. 

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15 hours ago, Insider said:

The TAB.....well it would be if it was well run and not too top heavy. 
Having said that; Dean McKenzie assures me that he has costs, expenditure, under control. 
I will believe it when I see it. 
Sorry Deano. 

How many times have we heard that one Liz...?? Evidence please Dean....

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I’ve said it many times. It’s not a matter of having costs under control it’s about “reducing costs”. Qantas has been posting huge profits yet it is currently in a cost reduction phase, focused on a reduction in Management positions. Until someone bites the bullet and says, all depts must come back in 2 weeks time with a detailed plan to cut 15% from their costs, then costs will remain the same. 

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4 hours ago, Ohokaman said:

Evidence please Dean....

Might you concede that him and the RITA board have only been on deck for a short time, especially DM as CEO. How quickly could anyone fix what they were left with

 

Greg

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42 minutes ago, JJ Flash said:

Might you concede that him and the RITA board have only been on deck for a short time, especially DM as CEO. How quickly could anyone fix what they were left with

 

Greg

He’s made the comment costs and expenditure are “under control”...so let’s see the evidence....

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14 hours ago, Ohokaman said:

He’s made the comment costs and expenditure are “under control”...so let’s see the evidence....

What would you consider to be evidence?? As in do you want the end of year financials or something a bit more current

 

Greg

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1 hour ago, JJ Flash said:

What would you consider to be evidence?? As in do you want the end of year financials or something a bit more current

 

Greg

Well, what steps have been taken to date to change the current situation for starters, where are the savings being made, and what will be the end result to the industry if costs and expenditure are, indeed “under control”. We’ve heard all this BS before Greg, I hope Dean can deliver.

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9 minutes ago, Ohokaman said:

I hope Dean can deliver.

The whole industry apart from a few non performing shit stirring administrators are in agreement with you there.

That said , im prepared to give RITA and Minister time to execute new strategy given how disastrous the situation was  when they began current restructuring. From comments on here many others are not which surprises me but can possibly be explained by sheer frustration at previous managements performance

 

Greg

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On 2/2/2020 at 9:04 PM, Big Boned said:

Provide free Wifi, enough table and chairs and pick up the rubbish. Every race club has delusions of grandeur but does not provide the basics, 

So u want them to enable you to divert turnover away from one of their sources of income? 

What committee do you put out the table and chairs and pick up the rubbish for? 

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43 minutes ago, Huey said:

So u want them to enable you to divert turnover away from one of their sources of income? 

 

Correct, Till NZTR or TAB Racing agree to measure bets done on devices the incentive to provide wifi does not make financial sense.  

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