$200 million x 5 = ?

[CeeMeNow 196]

TAB NZ  website;

" Each year, around $200 million is returned to NZ racing and sports "

If that was true, which it isn't, that would mean that TAB NZ  should have paid out to NZ, over the last 5 years $1 billion, or in the next 5 years $1 billion.

Entain    " Guaranteed funding to TAB NZ of greater than NZ$1 billion in the first 5 years"

I note also that it is not stated specifically in the preliminary announcement, that any upfront payment is actually additional to the guaranteed billion.

[Eclipsed 250]

Is it all still wip - nothing’s inked until the Minister gives sign off?

For mine, there is a nervousness that says this offer ($1billion over the first 5 years) is not as simplistic as it’s touted as being.
 

[JJ Flash 2,141]

15 hours ago, CeeMeNow said:

" Each year, around $200 million is returned to NZ racing and sports "

It was until Tod and Stewart took over

 

[Keepingthemhonest 41]

Replace Tod & Stewart with Allan & Hughes in your sentence Mr Flash

[JJ Flash 2,141]

2 hours ago, Keepingthemhonest said:

Replace Tod & Stewart with Allan & Hughes in your sentence Mr Flash

The latter were an unmitigated disaster. After Winnie recapitalised the TAB and it was restructured by a board and CEO who knew how to do it the 3 racing codes distributions were 170 mio despite Covid. Sports betting also did ok.

But i want to raise a point that many are missing re Entain business. Who owns the TAB - the 3 racing codes do and have done so since 1948, ,not sports, although you can bet that they will be after more especially if some on current board would like it that way.

[CeeMeNow 196]

Last year, FYE 31/7/22

Race betting contributed $140.2m to the code distribution, this was topped up with $35.7m from the betting duty and information levy  = $175.9m

Sports    $12.6m      +  duty/levy    $4.4m     = $17m

Gaming   " TAB NZ is incredibly proud to have been able to return over $18.5m to communities throughout NZ through both our Racing and Sports Authorized Purposes "

Well actually,  $14.3m went to funding the RIB, or should we say to funding the RIB community?

$2.4m went to Stakes Enhancement and only $1.6m went to amateur sporting organizations

T/O     Gaming -  $390.8m                   2021   $513.55m

          Sports     -  $780.38m                             $773.20m

          Racing   -  $1,757.24m                           $1,789.40m