mardigras Posted November 12, 2019 Share Posted November 12, 2019 https://www.rita.org.nz/sites/default/files/documents/NZRB1845_Annual_Report_2019_FINAL5.pdf This is not pretty reading for NZ racing. Net revenue on NZ racing and sports betting down $13m, off a new betting platform I'm sure they stated was going to deliver massive results for them. It has actually reduced the margin across the turnover. Haven't digested it all yet, but reserves must have taken a hammering and it's interesting how they seem to be able to write things as if they are all wonderful irrespective of what has just been presented. Quote Link to comment Share on other sites More sharing options...
Hesi Posted November 12, 2019 Share Posted November 12, 2019 Nett betting revenue(NBR) is $69.5 mil down on the budgeted figure !! NBR 17/18 vs 18/19 down $14 mil(which pretty much reflects the increase in nett profit loss), costs down about 0.9% or 2 mil, distributions to racing about the same, in the case of thoroughbred up 700,000 from 80 mil to 80.7 mil. Quote Link to comment Share on other sites More sharing options...
curious Posted November 13, 2019 Share Posted November 13, 2019 It's not pretty alright, considering the balance sheet is supported by this which is mostly a pipedream. Non current assets have increased from last year by $18.5 million (26.8%) due to the significant investment in property, plant and equipment (PP&E) and intangible assets ($19.7 million) relating to the strategic initiatives and other projects ($36.9 million). Quote Link to comment Share on other sites More sharing options...
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