RaceCafe..#1...Tipsters Thread.... Share Your Fancies For Fun...Lets See Who The Best Tipsters Here Are.
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TAB to go tits up

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Agree Leo, this result has been in the making for years, we go back to the basics - reduce costs, run lean with good knowledgeable management

Put racing people at the helm and listen to "the Industry" 

Today's news was inevitable given the past

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RITA led by Dean McKenzie need to start acting like there is a crisis. They were appointed to start cleaning up the show. We need staff reductions at the TAB, we need staff reductions at the Racing Authority, we need staff reductions at Racing New Zealand, we need staff reductions at HRNZ and we need to combine the management and administration of Racing Clubs and thereby reducing staff numbers and administration costs. We also need several clubs to be closed down. Only areas with a considerable number of horses in training should be able to conduct race meetings. The cost of racing a horse would then reduce substantially

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They are like all government departments and local bodies. - grossly overstaffed.    These bodies consider over staffing is good for the economy as they offering employment minding there are so many immigrants these days looking for work opportunities in addition to natural local population growth that the government will do anything to disguise the real problems facing the country.    It's like building loads of new dwellings before any infrastructure is put in place.      And of course afterall racing is these days run as a quasi government entity.  

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Quite a unique excuse......$3.8 mil coding / reconciliation error.

This excuse is extraordinary !

We all knew Industry heading south at knots.

We all knew massive changes needed to be made.

We have seen how airlines etc have acted as things turn to custard.

Racing should see this as a new beginning and start with a clean sheet of paper ASAP.

The inevitable job losses may even see a Government handout ?

Also several sports have been decimated thru loss of TAB revenue which in scheme of things was 'petty cash' to the part Sports Betting was contributing !

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1 hour ago, Stables said:

RITA led by Dean McKenzie need to start acting like there is a crisis. They were appointed to start cleaning up the show. We need staff reductions at the TAB, we need staff reductions at the Racing Authority, we need staff reductions at Racing New Zealand, we need staff reductions at HRNZ and we need to combine the management and administration of Racing Clubs and thereby reducing staff numbers and administration costs. We also need several clubs to be closed down. Only areas with a considerable number of horses in training should be able to conduct race meetings. The cost of racing a horse would then reduce substantially

Agree , whats the point in clubs with incredible facilities, event staff etc operating as per normal. Time to reshuffle the calendar head back to the back bone of the sport - country racing !

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Would expect all GM's are given 24 hours to either resign or get sacked and that includes any clown who put the new betting platform proposal to the Board at the time. Any business shareholder would be expecting nothing less as would the Government before they even consider helping out the Industry.  Should have happened day 1 when RITA took over the place.

Coding accounting error?? Just checked the calendar it's definitely not April 1st today.

They would have known exactly where it went which makes you wonder how many so called 'accounting errors' are in the books.

Robbing Peter to pay Paul - To take something from one source of funds and use it towards another.

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I told a mate who works for Radio Trackside last week that they would go crawling on their hands and knees to the government but it has happened way sooner than expected. Such a shame they frittered their rainy day fund on ridiculous projects like Typhoon, Triple Trio and blew $50 million on the worst betting website in the industry. The government should not give them one fucking cent. They need to get rid of most of the 150+ suits they have who get paid $100k plus for doing fuck all. The idiots on the board should also all be fired for hiring clowns like John Allen and Glenda Hughes who got them into this fucking shambles, and RITA should be dissolved immediately. They need to be reduced to a nuts and bolts operation with no freeloaders. And yeah, if I had any money in my TAB account I would be getting it out yesterday! 

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4 hours ago, poundforpound said:

Not sure about being gleeful, that’s not very nice, but you’d rightfully argue that if the industry has been living beyond its means then this is merely a symptom of mismanagement and failure to embrace a sound risk management policy, and the chickens coming home to roost 

A good shakeout might be timely anyway, get rid of most of the RIU ( 7 million there ) and all the dead wood at head office ... change the culture and rebuild a healthy, focused, lean mean industry driven by horse people 

Horse people got the TAB into this mess .Look at the makeup of the Board who hired that POS Glenda Hughes who hired John Allen etc etc. They need people with experience in the betting industry. But to be honest it's too late now, they are in debt up to their eyeballs having borrowed to build that piece of shit website,  they've sold Ellerslie and I assume Petone (?) and revenue is collapsing. Last one out turn out the lights. Congratulations to everyone involved. They were given a monopoly in a relatively affluent betting mad country and destroyed it in 25 years. Some achievement given how much $$ is being made by the big players in the industry.  

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43 minutes ago, Ohokaman said:

Not for much longer the way this is going Mikey....:rolleyes:

I never bet big but just enjoy the interest if in sport or racing,I make my small contribution to the racing industry,....even though the tab make a lot of errors one must not forget if there is no tab there is no racing,simple as that or not in its present state,if it ends up in aussie site hands well who are they going to look after the most,doubt it is us.

 

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The site needed an upgrade.  I was surprised it could not be done for less than $50M......or delayed when outsourcing options investigated.

The part that hurts is that the upgrade is SH1T.  And worse it has an annual licence of $20M.

They tried hard to show growth by giving away free bets....of course people would cherry pick these.

I have a feeling that the $3.2M manual adjustment will relate to the fact that if your free bet won, you could reuse ihe free bet again if you acted quickly......

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1 minute ago, Phantom said:

And sport! It wasn't going to win any prizes but it was functional

In reality they could easily have extended the sports section easily enough too I don't understand the running of it all but I do think the larger number of betting options on sport is a good idea but gee I'm all confused by it all,maybe the real problem is that New Zealand is possibly too smaller number of customers to justify cost,

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13 minutes ago, mikenz said:

I never bet big but just enjoy the interest if in sport or racing,I make my small contribution to the racing industry,....even though the tab make a lot of errors one must not forget if there is no tab there is no racing,simple as that or not in its present state,if it ends up in aussie site hands well who are they going to look after the most,doubt it is us.

 

Plenty of options over the ditch mate....

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