Hesi Posted May 2, 2020 Share Posted May 2, 2020 4 questions 1. What will the revenue be(18/19 was 348 mil, made up of 273 net betting revenue, 29 pokies, 22 overseas and 24 other) 2. What will be budgeted costs(18/19 was 211 mil, made up of 69 variable, 142 fixed) 3. What will stakemoney be for G1, G2, G3 and Listed, Maidens, R65, 72, 82, Open.... in general comments welcome. 4. How much will the government have to bail out RITA Quote Link to comment Share on other sites More sharing options...
curious Posted May 2, 2020 Share Posted May 2, 2020 McKenzie said they may be able to let us know some of that by the end of the month. Some more may be evident in the AWOL half-year report. Quote Link to comment Share on other sites More sharing options...
Hesi Posted May 3, 2020 Author Share Posted May 3, 2020 I ran a few figs, very quickly 2018/19 2020/21 Budget Turnover 348 mil 244 mil (30% drop) Fixed Costs 69 55 (20% reduction) Variable Costs 142 100(30% reduction in line with the drop in turnover) Nett profit before 137 89 distributions 18/19 total distributions of 160 mil(81 mil to Thoroughbred) and on top of this 6.7 for the RIU and 14 mil to Sports I stopped after that, as I was getting a headache Quote Link to comment Share on other sites More sharing options...
Hesi Posted May 3, 2020 Author Share Posted May 3, 2020 9 minutes ago, Hesi said: I ran a few figs, very quickly 2018/19 2020/21 Budget Turnover 348 mil 244 mil (30% drop) Fixed Costs 69 55 (20% reduction) Variable Costs 142 100(30% reduction in line with the drop in turnover) Nett profit before 137 89 distributions 18/19 total distributions of 160 mil(81 mil to Thoroughbred) and on top of this 6.7 for the RIU and 14 mil to Sports I stopped after that, as I was getting a headache If you took 4 mil off the 89 for the RIU and 10mil(30% less) for Sports, you end up with 75 mil. If you pro rata the 18/19 distributions, thoroughbred(53.6%) gets 40 mil Quote Link to comment Share on other sites More sharing options...
mardigras Posted May 3, 2020 Share Posted May 3, 2020 (edited) 37 minutes ago, Hesi said: I ran a few figs, very quickly 2018/19 2020/21 Budget Turnover 348 mil 300 mil (15% drop) Fixed Costs 69 60 (15% reduction) Variable Costs 142 125 (12% reduction ) Government subsidy 5 Nett profit before 137 120 distributions 18/19 total distributions of 160 mil(81 mil to Thoroughbred) and on top of this 6.7 for the RIU and 14 mil to Sports I stopped after that, as I was getting a headache My numbers in bold. So 5 mil integrity, 57 mil NZTR, government handout 30 mil (50% to gallops) = 72 mil to NZTR. Just a guess of course. 10% down?? Edited May 3, 2020 by mardigras 1 Quote Link to comment Share on other sites More sharing options...
Midnight Caller Posted May 3, 2020 Share Posted May 3, 2020 We may need a Mardigraph for this one! Quote Link to comment Share on other sites More sharing options...
curious Posted May 3, 2020 Share Posted May 3, 2020 3 hours ago, mardigras said: My numbers in bold. So 5 mil integrity, 57 mil NZTR, government handout 30 mil (50% to gallops) = 72 mil to NZTR. Just a guess of course. 10% down?? How does that turn into 5 mil in your numbers? Quote Link to comment Share on other sites More sharing options...
mardigras Posted May 3, 2020 Share Posted May 3, 2020 18 minutes ago, curious said: How does that turn into 5 mil in your numbers? The 5 million was wage subsidy. The 30 million was what the government gives extra due to the pleading (hopefully not), but alas I wouldn't be surprised. 1 Quote Link to comment Share on other sites More sharing options...
Hesi Posted May 3, 2020 Author Share Posted May 3, 2020 1 hour ago, mardigras said: The 5 million was wage subsidy. The 30 million was what the government gives extra due to the pleading (hopefully not), but alas I wouldn't be surprised. Surely the Govt is not going to give out anything, unless RITA presents a budget that balances, that would be ludicrous. Any handouts, would be to square off how much in hock they are from previous years, and to be politically acceptable, it will have to be fudged somehow Quote Link to comment Share on other sites More sharing options...
mardigras Posted May 3, 2020 Share Posted May 3, 2020 8 hours ago, Hesi said: Surely the Govt is not going to give out anything, unless RITA presents a budget that balances, that would be ludicrous. Any handouts, would be to square off how much in hock they are from previous years, and to be politically acceptable, it will have to be fudged somehow We've seen it in the past. I'm not sure the government is entirely accountable for what it does. The industry will be pleading that without a handout, if say there is only 90 - 120m in the pot, that will not be enough to keep racing going. It is, but that's not what they will be saying. Quote Link to comment Share on other sites More sharing options...
mardigras Posted May 12, 2020 Share Posted May 12, 2020 On 5/3/2020 at 9:33 PM, mardigras said: The 5 million was wage subsidy. The 30 million was what the government gives extra due to the pleading (hopefully not), but alas I wouldn't be surprised. Shit - even my $30m was conservative. $26m out of the $72.5m to pay off debts. When does it end? Quote Link to comment Share on other sites More sharing options...
curious Posted May 12, 2020 Share Posted May 12, 2020 25 minutes ago, mardigras said: Shit - even my $30m was conservative. $26m out of the $72.5m to pay off debts. When does it end? Debt payments due by Friday. I thought they were in the shit, but not that badly. 1 Quote Link to comment Share on other sites More sharing options...
mardigras Posted May 13, 2020 Share Posted May 13, 2020 At least RITA is doing its best to claw back some much needed profit. Doing things like putting retired horses into their future markets like the Caulfield Cup/Melbourne Cup is a pretty handy way. I thought they had a policy of refunding bets on non-nominated runners - but I couldn't find that in the betting rules, and it states it on some futures markets, but not those events. (TABCORP refunds if not nominated for the CC/MC) Nice RITA, let's hope you snare some mugs out there by getting a few $$$ bet on any horses that are retired. Mind you, pretty shitty odds for a retired runner. (Youngstar is the horse - so I'd suggest that you don't back it). Quote Link to comment Share on other sites More sharing options...
curious Posted May 13, 2020 Share Posted May 13, 2020 I'll put a few bob on it to help them out. Should be able to claim that as a charitable donation? 1 Quote Link to comment Share on other sites More sharing options...
Hesi Posted May 13, 2020 Author Share Posted May 13, 2020 In retrospect, surprising and fundamentally wrong as it was to many, but Peters had to arrange that bail out. Racing going down the gurgler on his watch, not likely. Can someone explain what would have happened had he not got the money so they could pay 26 mil of debts due on Friday Quote Link to comment Share on other sites More sharing options...
mardigras Posted May 13, 2020 Share Posted May 13, 2020 12 minutes ago, Hesi said: Can someone explain what would have happened had he not got the money so they could pay 26 mil of debts due on Friday I think curious would have had to put more than a few bob on Youngstar to win the Caulfield or Melbourne Cups - maybe $26 million would have worked. 1 Quote Link to comment Share on other sites More sharing options...
VC! Posted May 14, 2020 Share Posted May 14, 2020 On 5/3/2020 at 3:23 PM, Hesi said: I ran a few figs, very quickly 2018/19 Turnover 348 mil Hong Kong tote exceeds that within two meetings Back in the early eighties they had 20k day at Pukekohe roll on almost 40 years and you’re about to have 15k dollar days 1 Quote Link to comment Share on other sites More sharing options...
Hesi Posted May 14, 2020 Author Share Posted May 14, 2020 9 minutes ago, Maximus said: true, VC, they did, but that stat is a tad misleading when taken out of context. The $20k days (which went up within a few years to $30,000 if I remember rightly) were the exception not the rule, and were marketed accordingly, bringing in large crowds to Pukekohe racecourse to see top horses racing. Great value for your punting dollar if you could find a winner on the day! Owners, trainers, jockeys, breeders, punters all happy ...was it all a dream? MM 3o k day correct, and most fields were so full of quality that the fave was paying $7 Tote that is, before the days of FO Quote Link to comment Share on other sites More sharing options...
VC! Posted May 14, 2020 Share Posted May 14, 2020 10 minutes ago, Maximus said: true, VC, they did, but that stat is a tad misleading when taken out of context. The $20k days (which went up within a few years to $30,000 if I remember rightly) were the exception not the rule, and were marketed accordingly, bringing in large crowds to Pukekohe racecourse to see top horses racing. Great value for your punting dollar if you could find a winner on the day! Owners, trainers, jockeys, breeders, punters all happy ...was it all a dream? MM It was a great initiative, great Raceday, Unfortunately NZ racing is now finished Sports betting will become the number #1 betting product in NZ the dinosaur’s are slowly becoming extinct and the new breed are coming through NBA 20/20 cricket tennis premier league League Union AFL Golf UFC this is what is heavily promoted on TV this is what the youth are interested in As for NZ Racing what was I reading 20 meetings covered by media game over!!!! Quote Link to comment Share on other sites More sharing options...
pete Posted May 14, 2020 Share Posted May 14, 2020 Those were superb days. You might not have backed too many winners because of the depth of the fields but you knew that if you picked a couple on the day you'd probably be in profit. The other day that used to be an absolute highlight for me was Avondale Cup Day. Top fields and the Cup was always chockful of quality. I used to go up to the Concorde Lounge on the day. Great views and great racing. Quote Link to comment Share on other sites More sharing options...
Hesi Posted May 14, 2020 Author Share Posted May 14, 2020 I think they were twilight meeting days, when the first race was at about 3.30pm. Went to quite a few myself, as worked just down the road, a real highlight, and as you say, top fields 1 Quote Link to comment Share on other sites More sharing options...
mardigras Posted May 14, 2020 Share Posted May 14, 2020 I remember a few in the late 80s - Gibbs used to have fair representation - Maurine, Regal City I think were his. One year I thought he had about 4 or 5 in the cup and most did well. Quote Link to comment Share on other sites More sharing options...
Hesi Posted May 14, 2020 Author Share Posted May 14, 2020 Saw both of those races I went to Uni with a guy called Richard Kidd, who ultimately took out an owner/trainer licence. He owned Lurk, who got 2nd I think in the Avondale Cup one year Horse LURK NZ Lurk is a thoroughbred horse born in New Zealand in 1987. Race horse Lurk is by Standaan (FR) out of Jirob (NZ) , trained by T P Bita. Lurk form is available here. Owned by T P Bita & R J Kidd. Pedigree Sire Standaan (FR) 1976 Dam Jirob (NZ) 1981 [By Bellissimo (FR) 1982] About the horse Description 32yo B Gelding Trainer T P Bita Owner T P Bita & R J Kidd PM Australia : AUD $7,850 New Zealand : NZD $9,500 Total PM AUD $17,350 Career 10 Wins (15%) - 14 Placings (37%) - 65 starts Wins 1400m (1), 1600m (3), 2000m (2), 2100m (1), 2200m (3) Quote Link to comment Share on other sites More sharing options...
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