NZ TAB said 'we need to spend millions'...

[MisterEd 328]

24 minutes ago, Berri said:

So what strategy was made public to RITA's customers to get them betting? Nothing. In there lies the problem.

Well several years ago the the management at the TAB decided to adopt the UK way of bookmaking and started going crazy with risk management. I believe they took this too far and started turning punters off with restrictions that escalated into bad marketing via social media channels. The "you know the odds now beat them" slogan did not curry favour well with those that could not get a bet on and punters started looking elsewhere. Once you start losing your punters especially your bigger ones doing a large percentage of the turnover, you are on a downwards slide because now the turnover is dropping, to keep the profit up you need to manage risk even more as you need profit to give back to the industry.  Add in some disastrous decisions like the new platform and you are already over the cliff.

Until you change the thinking at the top level I do not believe this is salvageable. 

[JJ Flash 2,132]

5 hours ago, shaneMcAlister said:

RiTAs model for growth seems to be to produce a worse product (Less presenters, less cameras, less face to face betting, l

Well if you inherit a oversized unprofitable top heavy lemon what else could you do except cut costs. Dont forget this is what the industry wanted and chased WP for. Now its being implemented everyone except the smarts are up in arms. If it was your business and you are close to insolvent but want access to funds you would need a pretty harsh cost cutting plan before any funders would come to your aid.

You cant have it both ways when your broke so hard options are taken. An example being and ive raised this before if you had a choice between keeping Radio or  taking 4 mio off stakes which one would you choose??

The second point i would raise is that surely the promotion and growth  of the relevant 3 codes is up to those codes. RITA's focus is on providing gaming options and implementation of racing bill to the new entity NZTAB

[Tropical 49]

We don't need bookmakers.  Get back to the basic bet types and do away with most of the exotic bet types.  I don't know how but look to have a trans tasman pool.  The Hong Kong system works pretty well.  

[shaneMcAlister 1,425]

24 minutes ago, JJ Flash said:

Well if you inherit a oversized unprofitable top heavy lemon what else could you do except cut costs. Dont forget this is what the industry wanted and chased WP for. Now its being implemented everyone except the smarts are up in arms. If it was your business and you are close to insolvent but want access to funds you would need a pretty harsh cost cutting plan before any funders would come to your aid.

You cant have it both ways when your broke so hard options are taken. An example being and ive raised this before if you had a choice between keeping Radio or  taking 4 mio off stakes which one would you choose??

The second point i would raise is that surely the promotion and growth  of the relevant 3 codes is up to those codes. RITA's focus is on providing gaming options and implementation of racing bill to the new entity NZTAB

Hi Greg

"Top heavy", the top is not where the cuts have been made, it is arguably more top heavy then ever.

The three codes are limited in funds for promotion, as they depend on RITA's distribution.  This distribution is shrinking.

[JJ Flash 2,132]

6 minutes ago, shaneMcAlister said:

Hi Greg

"Top heavy", the top is not where the cuts have been made, it is arguably more top heavy then ever.

The three codes are limited in funds for promotion, as they depend on RITA's distribution.  This distribution is shrinking.

Your obviously not up with the play. Top end  job cuts are already underway but at a stage where due process has to be followed. I was told at my local yesterday that interviews were being carried out for National sales manager. The successful candidate would replace 3 current sales management positions.

 

Greg

[rdytdy 5,341]

1 hour ago, JJ Flash said:

 

The second point i would raise is that surely the promotion and growth  of the relevant 3 codes is up to those codes. RITA's focus is on providing gaming options and implementation of racing bill to the new entity NZTAB

 

Greg

Part of the function/responsibility of the NZRB is to promote the racing industry. I refer you to the objectives of RITA under the Racing Act 2003 particularly (a) 

8 Objectives of Agency

 

The objectives of the Agency are—

(aa)

to reform New Zealand racing in a manner that supports effective governance and improves industry sustainability; and

(a)

to promote the racing industry; and

(b)

to facilitate and promote racing betting and sports betting; and

(c)

to maximise its profits for the long-term benefit of New Zealand racing.

Section 8 heading: amended, on 1 July 2019, by section 9(1) of the Racing Reform Act 2019 (2019 No 32).

Section 8: amended, on 1 July 2019, by section 9(2) of the Racing Reform Act 2019 (2019 No 32).

Section 8(aa): inserted, on 1 July 2019, by section 9(3) of the Racing Reform Act 2019 (2019 No 32).

 

 

[Sobeit 99]

National Sales Manager & National Retail Manager positions - who'd want to go there? I'd love to see the job descriptions for both of these roles. I suspect the successful candidates may only be in their respective new seats for a very short period of time if the new broom doesn't produce the expected results. Personally, I just don't see how the TAB's future can look even remotely rosy given the depth of the rot within.

[Bestbetbazza 36]

JJ Flash 

National Sales Manager is probably not at the TOP. It's the range of positions above that level that appear to be untouched at this stage.

With regards your comment that it's not RITA job to promote the industry. If that's the thinking of RITA then we haven't a chance. It's everyone's job to promote the industry.

What RITA don't seem to understand is as they drive cost savings down in the wrong area they are driving revenue down so you finish no further ahead.

[slam dunk 1,317]

8 hours ago, Tropical said:

We don't need bookmakers.  Get back to the basic bet types and do away with most of the exotic bet types.  I don't know how but look to have a trans tasman pool.  The Hong Kong system works pretty well.  

You are on the right track. Why have the smart people at the TAB trying to fleece the punter. Far more logical and efficient having those people growing the product whilst its the punter who tries to beat another punter.

[rdytdy 5,341]

19 hours ago, rdytdy said:

 

Greg

Part of the function/responsibility of the NZRB is to promote the racing industry. I refer you to the objectives of RITA under the Racing Act 2003 particularly (a) 

8 Objectives of Agency

 

The objectives of the Agency are—

(aa)

to reform New Zealand racing in a manner that supports effective governance and improves industry sustainability; and

(a)

to promote the racing industry; and

(b)

to facilitate and promote racing betting and sports betting; and

(c)

to maximise its profits for the long-term benefit of New Zealand racing.

Section 8 heading: amended, on 1 July 2019, by section 9(1) of the Racing Reform Act 2019 (2019 No 32).

Section 8: amended, on 1 July 2019, by section 9(2) of the Racing Reform Act 2019 (2019 No 32).

Section 8(aa): inserted, on 1 July 2019, by section 9(3) of the Racing Reform Act 2019 (2019 No 32).

 

 

 

No response Greg

(c) was never adhered to as evidenced by the huge new platform costs etc and excessive salaries

and now (a) is not being adhered to evidenced by cut backs to radio, form, presenters etc recently announced to go along with other promotion retrenchments in recent years.

Without (a) & (b) occurring to create interest and growth leading to income the bottom line of (c) will be reduced.  

 

[Leggy 4,076]

1 hour ago, rdytdy said:

 

No response Greg

(c) was never adhered to as evidenced by the huge new platform costs etc and excessive salaries

and now (a) is not being adhered to evidenced by cut backs to radio, form, presenters etc recently announced to go along with other promotion retrenchments in recent years.

Without (a) & (b) occurring to create interest and growth leading to income the bottom line of (c) will be reduced.  

 

That's your opinion Ted. Clearly, RITA believe that the actions you note re (a) will maximise profits not reduce them. Do you have any actual evidence to the contrary?

[TurnyTom 1,534]

2 hours ago, rdytdy said:

2 hours ago, rdytdy said:

 

No response Greg

(c) was never adhered to as evidenced by the huge new platform costs etc and excessive salaries

and now (a) is not being adhered to evidenced by cut backs to radio, form, presenters etc recently announced to go along with other promotion retrenchments in recent years.

Without (a) & (b) occurring to create interest and growth leading to income the bottom line of (c) will be reduced.  

 

Thanks Ted

Agree 100%. If Rita have some other plan I welcome their advices

 

[Tauhei Notts 1,411]

Lovely dinner out tonight with people who are occasional punters.  Their expressions of disbelief when I tried to explain to them that the TAB was broke became amusing.

"BUT, how can the TAB go broke???  It takes money, it doesn't give it out."  I tried to explain but it was too difficult.