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

Good TAB Numbers- Distribution time

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For the year to date, the Reported Profit is $147.2m, which is $37.5m above Budget. Normalised Profit is $145.4m, which is $35.7m above Budget. 

In May the Board also approved making a $10m payment against TAB NZ’s ASB debt facility, which was made this month.

So the first meeting of Racing NZ board is due this week to distribute funds to the respective codes. Fleming for TB ,Woodham for Harness and Glenda for Hounds plus the 2 independents  who  i cant name as i dont know who they are.

Would love to be a fly on the wall as they battle for each and every dollar. Should be quite a simple exercise as TAB would have given the board all the relevant stats, then again nothing appears simple these days

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1 hour ago, Chris Wood said:

So this is delaying our programming for the new season, hopefully it is worth the wait!
 

It is probably the last straw for me.  Just getting interested this year in racing one or two again after 7 or 8 years and they can't now produce a programme for August until at least mid-July? Surely the programming could be done and any additional amendments to stakes as a result of the distribution sorted later?  I just keep getting the same old message that they couldn't organise a root in a brothel.

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5 hours ago, Chris Wood said:

So this is delaying our programming for the new season, hopefully it is worth the wait!
 

I personally think it is crazy the new season starts in august and we do not know if we are still racing for a bag or spuds or not!!!

We were told end of June we get a stake announcement so must be close……

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52 minutes ago, Chris Wood said:

It was an announcement from NZTR, today!

Meeting News

Racing Programme Guide Delayed

 

The RPG covering the first three months of the new season will be delayed and won’t be with trainers until around mid-July. This has been held back while stakes funding for the new season is finalised. NZTR will electronically send these programmes to trainers as soon as they are available and will post them on the NZTR website as soon as they are confirmed. A press release from NZTR is expected to be sent out at the end of this week.

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48 minutes ago, gubellini said:

NZTR want to put their payout primarily to build up reserves so don't expect any increase in minimum stakes. On past form I am very sceptical about what will be the eventual fate of these reserves.

Reserves for a rainy day?  Please tell NZTR it is pissing down!!

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59 minutes ago, gubellini said:

NZTR want to put their payout primarily to build up reserves so don't expect any increase in minimum stakes. On past form I am very sceptical about what will be the eventual fate of these reserves.

Gubes they southed 2m from the paying down to 14th thats gone into reserves. I think a large part of a larger distribution from TAB should go to stakes.

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there is a common theme here....

TAB paying off a debt they should have never got in to, as fast as they're able.

The codes stocking up their empty cookie jars.

Whilst stakes remain at levels paid out some 20 years ago.

Racing's still a cot case, albeit the current regime were handed a goose when the previous regime took their exit payments and moved on.

Roll on 2028

 

 

 

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7 hours ago, Nerula said:

Gubes they southed 2m from the paying down to 14th thats gone into reserves. I think a large part of a larger distribution from TAB should go to stakes.

It's seemingly a one off distribution. So, it seems to me that wasting it on stakes as they have been prone to do for eons would be foolish. That is not likely to contribute to the bottom line and ongoing stakes funding. Surely, if they get a few extra mil one off, they should use it for something that will. Refurbishing one or two key tracks would be high on my list of options.

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11 hours ago, shaneMcAlister said:

I personally think it is crazy the new season starts in august and we do not know if we are still racing for a bag or spuds or not!!!

We were told end of June we get a stake announcement so must be close……

It was a case of the 3 codes not sorting out the 2 independents for Racing NZ board. A message from the Racing Min saw them jump into action . First board meeting is supposed to be on 30th June. Its then up to the codes to

{1} Decide how much each one gets out of the pot and then

{2} How the respective codes spend/allocate their share .

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1 hour ago, Leggy said:

It's seemingly a one off distribution. So, it seems to me that wasting it on stakes as they have been prone to do for eons would be foolish. That is not likely to contribute to the bottom line and ongoing stakes funding. Surely, if they get a few extra mil one off, they should use it for something that will. Refurbishing one or two key tracks would be high on my list of options.

I would not waste money on refurbishing tracks as they won’t need them if they don’t increase stake money.  TAB have given them increased funding, they need to distribute to those that provide the product or there is no product. 
 

fertiliser is better for the land than a new tractor. 

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4 minutes ago, JJ Flash said:

It was a case of the 3 codes not sorting out the 2 independents for Racing NZ board. A message from the Racing Min saw them jump into action . First board meeting is supposed to be on 30th June. Its then up to the codes to

{1} Decide how much each one gets out of the pot and then

{2} How the respective codes spend/allocate their share .

Hi JJ. Who is the new Board, be hard to get this ready for today’s meeting.  It’s just crazy and continuous delays. 
 

 

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45 minutes ago, shaneMcAlister said:

Hi JJ. Who is the new Board, be hard to get this ready for today’s meeting.  It’s just crazy and continuous delays. 
 

 

Much as i have tried i am unable to tell you who the 2 appointed independents are. TB rep is Jason Fleming, Harness is Gary Woodham and Hounds is probably Glenda.

Agree about delays but the day of reckoning has arrived. I just hope the independents have a thorough knowledge of gambling and how the net revenue was arrived at. Also, that no deals are done to subsidize one code over another eg should 1 code have a bad year.

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One would hope they are not holding onto millions owing to service providers in order to make things look better on paper than they actually are. Sadly wouldn't be the first time. 

And hopefully they have learnt how to establish areas of costs that should be correctly accounted for in expenses eg  previous reports out by millions due to supposed coding errors 🤨

Still no report over a year later as promised to the Industry as to how and why it happened. No worry the NZ taxpayer funded the loss through the bail-out.

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It all comes down to signals before an investor can make decisions. Only a fool invests on poor or no forthcoming signals.

Mares need to be prepped for breeding now and why would you make that decision when you dont know whether there is an upward trend coming or the downward spiral persists.

NZTR promised the funding policy would be announced in May.  Sad! It looks like the inertia is caused by the dead hand of the DIA. Awaiting appointment of the TAB board is the excuse.

 

It's hard to soar like an eagle when surrounded by turkeys

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I have just been reading the latest TAB News Release about how great the TAB is going at the moment. I'm not an accountant but this part does worry me "Next year, the three racing codes - New Zealand Thoroughbred Racing (NZTR), Harness Racing New Zealand (HRNZ) and Greyhound Racing New Zealand (GRNZ) - are projected to receive $23 million more in fixed distributions compared to that budgeted for the current financial year, at a total of $140m. This increase equates to a 20 percent rise in growth year-on year (see Table 1 below)."

All the comparisons are against "budget" and nothing is compared to past performance. I think that the distribution in 2018 was about 148m. WE were going no good then so how are these figures so great. What am I missing. 

It would be interesting to compare the expenses this year compared to earlier years rather than "budgeted" with all the cost cutting that's been done since Covid.

Are we going to see Press Releases designed to stroke the egos and improve the CV's of CEO's.

Will we see the continued increasing of Stakes by reducing the number of races and not the amount of extra money being put in the industry. What have I over looked 

 

 

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11 hours ago, Tony said:

I have just been reading the latest TAB News Release about how great the TAB is going at the moment. I'm not an accountant but this part does worry me "Next year, the three racing codes - New Zealand Thoroughbred Racing (NZTR), Harness Racing New Zealand (HRNZ) and Greyhound Racing New Zealand (GRNZ) - are projected to receive $23 million more in fixed distributions compared to that budgeted for the current financial year, at a total of $140m. This increase equates to a 20 percent rise in growth year-on year (see Table 1 below)."

All the comparisons are against "budget" and nothing is compared to past performance. I think that the distribution in 2018 was about 148m. WE were going no good then so how are these figures so great. What am I missing. 

It would be interesting to compare the expenses this year compared to earlier years rather than "budgeted" with all the cost cutting that's been done since Covid.

Are we going to see Press Releases designed to stroke the egos and improve the CV's of CEO's.

Will we see the continued increasing of Stakes by reducing the number of races and not the amount of extra money being put in the industry. What have I over looked 

 

 

I dont think youve missed much, but there must surely be significant cost savings on the way given what the industry has given up to survive?

At any rate the "TAB Fairy" will surely be along shortly to put us all right.

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So come next season the TAB have said the code distribution will be $170mio. So they are forecasting more $ in the pot for distribution but the crux of the issue is what is NZTR's share of the $170 and how are they going to put the extra to work.

PS I think is the wash up there will be more than 170 but that's another matter

Where's that miserable  Nomates to give us his low down on all things re racing funding.

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