by Brian de Lore
Published 8th May 2020
Better late than never, but Wednesday’s announcement by RITA that it’s finally decided to reduce costs is a classic case of ‘too little, too late.’
It may be a short-term respite for RITA’s chronic cash-flow condition, but it neither addresses the long-term competitiveness of the racing industry in any shape or form and nor will it off-set the expected substantial decline in code distributions, hence the pending prizemoney decline for 2020-21.
That predicament is notwithstanding RITA’s application to Treasury for a COVID-19 bailout for a figure purported to be $80 million. Should it be approved with Minister Peters giving it his solid support, the bank debt of $45 million and current liabilities might be covered, but it would leave little for anything else.
The brief COVID-19 Update which appeared on the RITA website on Wednesday, states: “The proposal includes a reduction of approximately 30 percent of roles across all areas of the organisation and is in addition to other cost-saving measures aimed at reducing total expenditure.”
NZ Rugby has announced job losses for its full-time staff of 180 at 50 percent, with the remaining 50 percent having to reapply for their roles.
According to New Zealand employment law, the proposed cuts will have to be presented to staff for consideration, then be up for discussion with feedback taken before the final decision in late May. NZ Rugby has announced job losses for its full-time staff of 180 at 50 percent, with the remaining 50 percent having to reapply for their roles.
NZ Rugby lost more than $7 million last year but is estimating a fall in revenue this year of around $100 million. By comparison, NZRB/RITA lost $28.5 million last financial year, and increased bank debt, but did nothing about its ridiculously top-heavy employee level. It has carried them through to May 2020 where they have reached the point of no choice.
When NZRB became RITA on July 1st last year, a great opportunity existed for the widest Bunnings broom to go through and clear out the blatantly obvious deadwood and instill some confidence in the stakeholders of racing. A great opportunity missed, and ever since, the rise in debt is paralleled only by the decline in industry morale.
Wednesday’s Update from RITA clearly blames COVID-19. Executive Chair Dean McKenzie is quoted as saying, “The TAB has taken a major hit from COVID-19 with revenue last month 47 percent below forecast and customer numbers down more than 35 percent.
“Despite far reaching efforts to reduce costs across the TAB, including salary reductions, staff taking leave and reducing all non-essential expenses, it simply was not enough to offset the blow COVID-19 has had, and will have, on our industry.” – Exec Chair Dean McKenzie
“Despite far reaching efforts to reduce costs across the TAB, including salary reductions, staff taking leave and reducing all non-essential expenses, it simply was not enough to offset the blow COVID-19 has had, and will have, on our industry.”
My version is quite different. RITA was insolvent before COVID-19 turned up. It’s a simple matter of tangible assets failing to equal the size of the mounting bank debt. And while revenue might be down 47 percent as claimed by McKenzie, having no New Zealand racing since the day Alert Level 4 commenced has meant having to make no payments to the codes for stakes money. Then, with the wages subsidy supplementing salaries, the TAB has been accepting bets on Australian racing on a ‘betting information use charge’ – a far less onerous form of conducting business.
McKenzie goes on to say, “The reality is the TAB will need to be a leaner, more efficient business with fewer roles, and focused on driving our core wagering and gaming business.” Why wasn’t he heard to say that last July?
The Update concludes rather tersely with, “No further comment will be made until a final outcome is confirmed.” It’s a relatively short Update that fails to mention the monetary savings which would accrue from the downsizing which is the most important figure.
…it would be surprising if savings annually on this move exceeded $10 to $12 million or only five percent of the total costs.
Thirty percent of roles sounds significant but given they have 700-odd employees including the RIU which doesn’t include consultants which numbers 70 in this cost-cutting measure, it may not make too much of a dent on the total running costs of 2019 which amounted to $211 million. Drawing information from the Annual Report and last SOI, it would be surprising if savings annually on this move exceeded $10 to $12 million or only five percent of the total costs.
In the Budget of 2019, the Government provided $3.5 million to the racing industry to: “make the best use of the $3.5m Crown contribution to the cost of industry change ensuring that this funding buys change.”
Has the $3.5 million been used for anything yet or saved for this RITA debut of cost-cutting, which seems unlikely given the parlous state of its financial position over the past year. We don’t know – RITA has never mentioned it.
Racing needs a revolution with a business-savvy leader to get rid of the deadwood, address the skill level required, understand IT on a global level, and deliver a balance sheet for New Zealand’s racing future. No sign of it yet!
The Deloitte Report was dismissed out of hand by an NZRB which adopted a contemptible ‘we know better’ attitude towards the codes.
The Deloitte Report is now three years old (May 2017) but is as relevant now as it was then – it was authoritative but was dismissed out of hand by an NZRB which adopted a contemptible ‘we know better’ attitude towards the codes. Deloitte had significant experience in the thoroughbred business and drew upon its Australian expertise to compile the report.
Deloitte said: “The lack of scale means it is unlikely NZRB will be able to achieve a sustainable competitive advantage against international wagering competitors. Based on our experience of the benefits achieved with industry consolidation in other settings and our analysis of the NZRB current cost structure, we are of the view material cost synergies would be achievable if a more substantive outsourcing or similar initiative were to be pursued with an appropriate party. Our initial assessment is that gross annual benefits could be in the vicinity of $63 million.
Since NZRB ignored that advice, the racing industry in New Zealand is something like $250 million worse off when you take into account the lost opportunity and a commitment towards a $50 million FOB platform plus ongoing deals with Openbet (10 years) and Paddy Power-Betfair (5 years). That may have been about the time they made the movie, Dumb and Dumber.
The RITA SOI (Statement of Intent ) released last November stated: “We are optimistic this result (previous year) will be a one-off and we will deliver on our forecasted net profit in 2019/20 of $165.8 million.” That budget currently looks like missing by $55 million or so with a bottom-line result of between $100 million and $110 million. They can blame COVID all they like but the industry isn’t that dumb, or dumber, to swallow that one.
We only have to go back and compare New Zealand with Western Australia to realise what a pig in the trough scenario we have endured.
The 2019 Annual Report says NZRB/RITA spent $22,500 per week on consultants. Travel and Accommodation amortised out at $54,000 per week. Other expenses were totalled up at $14.25 million or $273,396 per week. In the notes to discover what they were, the list is shown but the final item reads as ‘Other Operating Expenses, ’ which is $2,047,000 or $39,400 per week.
To have ‘Other Expenses’ and then a sub-title under that listing another ‘Other Operating Expenses’ which amounts to $39,400 per week with no notes as to how the money was spent, is symptomatic of the lack of proper accounting, transparency and accountability to which the participants of New Zealand racing have been subjected to for many years.
Finally, have a look at what happens in Western Australia to which I have made comparisons on numerous previous occasions. RWWA (Racing and Wagering Western Australia) has one organisation running wagering and racing whereas New Zealand has five. Under RWWA’s board they have five committees. By their own admission they believe it’s far from perfect, but compared to NZ, WA is efficient.
| NZ Racing (2019) | Racing Western Australia (RWWA) (2019) | |
| Net Betting Margin | $285m | $305m |
| Salary & Wages | $63m | $40m |
| Employees | ~700 | 370 |
| Senior Managers (Note 1) | 23 | 7 |
| Margin/employee (Note 2) | $400k | $800k |
1. NZTR, NZ Harness, NZ Greyhounds and the RIU do not disclose salary information for senior managers. For the purposed of comparison with RWWA have assumed two managers each paid $200k
2. Key racing industry efficiency and competitiveness measure
| New Zealand | Western Australia | |
| Population | 4.886m | 2.589m |
| No. race meetings | 311 | 283 |
| No. races | 2,582 | 2,140 |
| No. starters | 4,744 | 3,197 |
| $Loss for $2018-19 | ($28.5m) | ($3.12m) |
Footnote:
The Optimist has learned that a pre-budget announcement will be made next week by our Minister of Racing, the Rt Honourable Winston Peters. I am told it is big and a game-changer for the industry. Could it be about the bail-out application? Might it be fake news? On the previous form on big announcements, in a head to head it’s $2.60 on the loan approval and $1.40 on the fake news. All bets accepted as soon as my betting license arrives.
Mr Gil Dymock posted this comment close to publishing today’s blog. I have therefore reposted it as the content is generic. The Optimist.
First, a point of order, Mr Chairman.
Winston Peters is not the Minister of Racing, he is the Minister for Racing. And anyone who thinks the distinction doesn’t matter needs to bone up on their political science studies.
Following on from that, if the sport had been administered in anything like a businesslike manner over the past century, it would have no need, none at all, for a Minister, either of Racing or for Racing.
The idea that racing’s problems have all arisen recently is a nonsense; they’ve been building since not long after British soldiers raced their mounts along the Petone foreshore before heading off to face Te Rauparaha or whoever else was bothering their masters.
I could list a dozen things that need fixing but let’s just concentrate on one — the number of race courses in New Zealand.
Here’s a way to boil it down: New Zealand (population 4.8mil) has 52 racetracks for thoroughbreds; New York state (population 19.4mil) has four.
OK, NZ is a different shape to NY and at 268,000 sq km covers an area twice as large as NY’s 140,000 sq km.
But, fair dinkum? Fifty-two racetracks for 4.8 million people? It’s insane.
Northland (pop 180,000) has two. One is OK, the other a joke. Yet when there was a move to shut Dargaville down ten or so years ago, Graeme Rogerson led the charge to keep the joint open. And every subsequent attempt has been met by a cavalcade of bleeding hearts, appealing to community this, community that, and community every other thing.
If an industry leader like Rogerson can’t see what the problem is, in fact advocates for the stupid side, then is it any wonder that the game is stuffed. Of course, when someone of the status of Rogerson attends Dargaville races, they’re not expected to slum it with the peasants so maybe their perception of the place is somewhat slanted.
I’ve resided for the past 25 years in the Kaipara District, for which Dargaville is the administrative centre. I’ve been to the races there once and won’t be going back. Why? Because on my only visit I copped an arseful of splinters from a weatherbeaten seat and when I sought a beer I was directed to the tractor shed, where I was handed a can, warm. At least they’d taken the tractor out, so that’s something they got right.
Up until the 1950s, it was easier for racing to be taken to the people. But since the 1960s, at the latest, and more so in these times of modern motor vehicles and reasonably good roads, it is just as easy for the people to get to the races. The need for every town, village and hamlet to have its own race course disappeared so long ago that the only people who remember the case are sitting in rest homes wondering whether Covid-19 or the Queen’s telegram will arrive first — if they can wonder at all.
Skewing all this was the move in the 1990s to televise racing and, in one of racing’s most egregious decisions, to make it free to view. In one fell swoop, the on-course crowds were removed; ten years later, the internet killed the TAB’s retail arm.
So now, with pretty much every punter sitting at home with his own private betting terminal, what is the point of having fifty-plus venues?
New Zealand could probably get away with four but, let’s be generous, and have say eight in the North Island and six in the South.
If racing’s movers and shakers can get their heads around that set-up they would be making the first move toward running the sport for the good of all participants.
Do any of our RITA board have an association with any of the follow people,
Kim Jong un,
Hillary Clinton,
Bill Gates,
Vladimar Putin,
If not, then I believe RITA have deliberately run our Industry to the wall.
Brian, thanks for your reseach, stats, and proof to the above statement.
But can you tell me why , and why are the Stakeholders putting up with
the ARROGANT DICTATORSHIP mirrored by the above meantioned people in their personal differant ways ,with a similar result that RITA force upon us?
Brian, you have brought to our attention the EXTRAVAGANCE of RITA.
It amazes me how the RITA Board who would have family and friends within
our industry, and would treat them with a type of hatred, (opposite to friend)
Had King Winston ruled at the begining of Racing in the 17th century, and had instructed His Board to make the changes and two years later, no improvment .
Well they didn,t sack people in those days.
Let me put it this way , the King would have created a completly new board.
I try to imagine what my fellow Stakeholders are thinking ,I wonder if I could have access to their cheque books, and wonder if they would allow me the same spare no expense privileges as RITA, in return for JACK.
As I have asked you , will you continue to sit on your hands ?
So now you see a need to sweep the floor.
How?
The best and most direct way , either Strike or start a new Entity.
How would I start this new Entity, with just one race course, my admin team, including race day would be …..
there would not be too many on salary.
My last comment is this ,
Are people in our industry afraid to speak out ? The reality is my comments
will soon be like an old news paper , my yesterday was a great day of
no real value now,
but tommorrow belongs to those of us that can count.
Thanks Brian .With insight and previous history the Minister must NOT bailout the TAB . Hopefully Price Waterhouse call the receivers. The Minister then can fund a new betting platform . Clubs retain IP and everything starts to fall into place . Let Racing Administrators run the show . Thanks
Gil …..please stop being ‘the voice of reason’ haha …loved your post.
The sad fact is that the NZ TAB should have been the most profitable business ever launched in this country …FACT….and not 60 mill in the hole.
It was like being handed Phar Lap ….the Pavlova …the All Blacks ….Split Enz ….Dave Dobbin …..and anything else that was a roaring success in NZ and flushing it down the dunny! ….the mind boggles.
Graham B.
You are so right, Graham!
Our TAB is a body corporate. We are now getting the 2% betting levy back which will be $13 million annually in year three. All the profits come back to the codes theoretically and they would be substantial if we administered racing leanly and efficiently. The Australian corporates have to pay dividends to shareholders after paying a tax we are not required to pay. We should be creaming it – it’s the perfect model. But instead, the top heavy, big salaried administrators who are not racing people are creaming it. It’s nothing short of theft – and Winston is condoning it by doing nothing!
Brian the 2%betting levy we got back this year was gobbled up by 3 and half million dollar mistake on the free bets giveaway which got counted twice in their books. How bad was that. And I’m sure i can remember about 3 years ago in their annual report how they had 13 to 14 million other costs. Which nobody knew what they were. Now someone out there might be able to check that. But at the time I thought that is a hell of a lot of unspecified accounts. The codes need to take charge but are they up to it.??
In agreement Murrary .
It is achieved by with holding product.
Its called a STRIKE.
And it worked for Queensland. $29,000,000 ,their strick last a day and a half.
What a shame the govt have a bail out forced upon them and by ex govt employees.
Why do I say that.
Because now the govt own our industry
On your comments Murray .
An auditory needs to be conducted ,there is no accountability, must be amazing to pay yourselves what you want and spend whatever you want and anwser to no one.
Ask Fonterra dairy farmers,its obviously normal life in our days.
You know what guys …your all on the ball and any ideas mooted on this blog would help the bottom line ….BUT (and there always a but) …..everyone knows the answer but nobody acts apon it.
Just install Brian De Lore and Michael Dore up the top as Brian is the ‘figures’ man and Michael is the ‘ideas’ man.
Both men use LOGIC and thats important…..and hasn’t been used for many a year unfortunately.
The TAB is an absolute ‘cash cow’ because its one way traffic ….and the only way it could ever lose money is by poor management….and guess what …..its been managed worse than any business in this country.
It will be a sad day if and when the TAB goes ‘belly-up’ because there was absolutely no need for it to happen …..and if Winston doesn’t tip in 70-80 mill to them next week it could be curtains and sold off to TAB corp Aust so we would have to put up with wall to wall Dapto dogs and Quirindi out-back hacks every 4 minutes.
I reckon Winston will tip in ……because of the size of his EGO more than anything else ….he wouldn’t want to be labelled the bloke that beheaded the TAB …..but if he doesn’t then the boat has snapped its moorings.
Graham B…… Petone.
I think he will chip in as well Graham but what conditions will the money come with.?. Graham you might be the best man to comment on this do we need bookies. I can remember before they came on stream wairio trots had a day when mark purdon came down with 7 horses won 6 hot favorites of course and club turnover 1.4. Million best day ever for club. I think around 18 cents or more was taken out of every dollar spent how can tab lose. Club got about 11 cents. Now days if that happens and it has happened tab loose money for the day. What is best. They say beat the odds but if you do we are going to restrict you. What sort of a message is that, no wonder punters look for bigger site’s overseas. They always said that 15% of the .punters put 60% of the turnover on, so stuff the wee punter. What would happen if bookies stick to sports betting only would we better off?it would be interesting odds would be totally different than what the bookies set.would pool’s be bigger. And yes Michael and Brian would be a hell of a lot better than what we have now.
Sure needs a fix! A big clean out all the way through! Overpaid pen pushers while racing being run by volunteers who certainly are not giving their time and evergy for nothing to be pushed around by the heavies!! So you think closing clubs and grabbing assets is the answer! Back the truck up! So you think taking racing away from the big city will fix it!! Refer to Stats data on population growth! It’s certainly not Cambridge! There should be a drive to encourage new owners from the new rich ! The Chinese who love gambling! Get them away from pushing buttons on pokie machines! But what is planned is only to cater for a few top trainers to enable them to prepare their horses for rich racing carnivals in Australia! Racing was reborn and had to grow again after both world wars!! Start with a new page and a few people!! Same people are still sitting in the seats who have watched and being responsible for the decline!! I know as sand people had plum jobs in year 2000 when I was on Racing Board! They just keep moving between racing board and NZTR ! Some have popped up running Greyhound Racing! It’s a joke!! People are finally waking up! But even back in 2000 the old boys network did not like forward thinkers!!
The crime of course is that NZ has the best environmental conditions on earth to grow superior equine athletes and according to the current racing act it should be administered to not only sustain the racing industry but for it to thrive.
Brian’s comparison between Western Australia and NZ is a valid one and having been involved in the WA industry for the past 30 years I can vouch for the mantra there which is founded on respect for the horse/hound, their owners, trainers, jockeys/drivers/handlers and breeders.
This respect, when it has been seen to be waining, has periodically been brought to government’s attention by industry participants in a direct manner with MPs.
The collapse of the NZ racing industry will not be a major concern to one RITA board member as he is the owner of the sales company that sells thoroughbreds and Standardbreds. This auction company is missing out on millions as owners of racing horses have had to sell their stock if they show potential just to survive.
Good call Murray ……and as I have said before Bookie’s add colour to a race meeting and pay turnover tax so licencing them would be good for racing in NZ as it might start attracting crowds again like the old days.
As Gil Dymock pointed out …when racing went ‘free to air’ there was no longer any point in attending the track as we all had our own betting terminal at home on the couch without the need to travel to empty race tracks with ZERO atmosphere…and believe me race meetings need atmosphere ……. just look at Cup week in CH CH …atmosphere personified…..but thats only once a year and needs to be weekly.
Racing is fighting for such a minute percentage of the leisure dollar these days that any idea is worth floating for the good of the game and Bookmakers on course is a goodie Murray ……I would be the first to apply for a licence as standing up on my stand fielding punters would add so much fun to the day as the punter will ALWAYS want to beat the Bookie.
The bookies in Australia are a dying breed. When I worked in admin at the Western Australian Trotting Association 29 years ago 24 bookies was the norm in the betting ring every Friday night and now there are none. Sorry guys that is not a viable option.
Diane …you are correct ….the Glos Park ring in the 70’s was a ripper with up to 30 Bookies fielding and I was there every Friday night ready to attact them as they would cop a bet!
I went back to Perth in the 90’s some 20 years later and couldn’t believe there were only two left ……BUT NZ race crowds havn’t seen on course bookmakers for over 100 years so didn’t get bitten by the excitement they added to a days racing so it could invigerate the racegoers in this country!
Just a thought Diane ….it could be like fashion ….it goes in a wheel, and I bet you have pulled out a dress you purchased in the 70’s …..slipped it on and said …WOW I look good in this.
Graham B.
As a longtime owner/breeder since age 22, I have witnessed the demise of a once proud industry which has given us great horses in both codes.
Today, most owners with anything good either race in Australia, or in harness racing we sell to North America just to make a dollar to continue with next one going into training.
Racing missed the bus when NZ went through significant change during the mid 1980s as it was too arrogant to make change to combat the threat of lotto, casinos and the opening up of our economy. All these changes have provided Kiwis with alternative avenues in which to spend their discretionary dollar.
The Racing Board has seen many misfits come and go at the top over the past 15-20 years none with an interest in racing, who brought with them their travelling circus of inept mangers. The current interim incumbents are no different and though they signal change it’s been far to late. They should have identified the issues in the first 100 days of taking over. Looking at the financial accounts one did not need to be a rocket scientist to understand the dire situation. The recklessness of previous managements team got us where are today.
The only way to solve the problem is to take back what is rightfully the industries, that is the IP, The TAB and send the suits packing. The Industry doesn’t need a Minister for Racing, nor RITA. What it needs is people with a passion for racing and the ability to provide effective governance and leadership.
After reading the impending changes written by Barry Lichter this evening once again it looks like we have missed the bus. As an owner/breeder and punter I don’t want to see wall to wall racing from far flung places. I and many others want to see quality NZ racing with some of the higher quality races from Australia not fillers from outback Australia, Brazil, South Korea, North America,
RITA don’t obviously understand the Customer Service Profit Chain which is about looking after the customer which in our industry is not only the provider of the product but also the punter who spends his hard earned, each reliant on the other. Once you understand that we might move out of ICU.
I was considering buying another horse at the up coming All Aged Sale next week however, I think that would be totally unwise.
Another aspect which requires immediate attention is the RIU which is another diabolical disaster and blight on the industry run again by misfits. No wonder when I look at the management team.
I’m old enough to remember when the NZ TAB opened betting on one Australian race a year, the Melbourne Cup . . . from memory, Red Handed’s in 1966 being the first. Come forward 54 years and they’re offering the chance to bet on thousands of races, covering all codes, from all around the world.
Somewhere between those two extremes sits the correct number and I’m pretty sure it’s closer to the 1966 figure of one than 2020’s multi-thousands.
OK, nobody has to bet on all those races. But the attitude of the TAB can be likened to a drug dealer who’s got someone hooked on heroin . . . pushing more and more dope on the addict until the poor sap either dies or goes into rehab.
The raison d’etre of the TAB, on its establishment, was to provide an outlet for the public to have a bet when unable to attend a meeting and to get off-course betting out of the hands of illegal bookies. The TAB most assuredly wasn’t set up as an organisation to squeeze every penny out of punters it was possible to extract. The end result of that policy is that punters, like dope addicts, are disappearing . . . either dying, going broke or taking the cure.
The TAB needs to cut out the wall-to-wall worldwide coverage, have their TV outlets fill the time gained with analysis and news and, sometimes, just show a blank screen.
And alongside a reduction in overseas racing, the number of meetings in New Zealand should be cut. It should be difficult to get a start on raceday; each horse needing to prove itself at trials before entering a race that carries prizemoney.
I know there’d be howls of outrage from trainers from one end of the country to the other if that happened . . . but think of the improved competitiveness of races, the improved quality of contestants, both equine and human, and the heightened interest of racing’s followers.
The horses culled by this regimen would be those that struggle to win a maiden at Wairoa and do nothing else while owners would be saved thousands by not paying training fees for second-raters on the off-chance that “something easy” would be found for them.
Would trainers be made redundant if this happened? Some would, for sure. But trainers come and go all the time, the dead wood constantly being replaced by newcomers willing to give it a go. And I reckon the biggest change would be to those stables currently preparing strings of a hundred plus. They’d be down to forties and fifties with the boutique establishments coming to the fore.Gil Dymock
Downsizing the sport on the participant side would see an increase in the following side.
There’s a slight chance something like this will happen. The economic shakeout from the covid disaster currently afflicting the world may cause New Zealand racing to adopt a leaner mode of operation; one that will be proved successful and be retained. One can only hope so.
Very good post Michael ….and you hit the nail on the head when summed up previous management in a word …’Reckless’ …..as that is exactly what they were.
I still can’t fathom how all the CEO’s since the turn of the century were being paid 300k more than our Prime Minister ….it just doesn’t equate.
Come back Michael Dore PLEASE …knowledge ….passion ….intelligence …he is the one to right the ship in the CEO role and I bet he would accept 400k less than previous CEO’s to get the job done and still be on 500k.
The other step backwards is throwing out best Trackside presenters back into a studio! …no trackside interviews where us punters can read the body language of interview subjects etc etc …..just another giant step backwards.
Racing just aint going to be what it was and its a sad day for the great sport.
Graham B.
Graham, I concur Michael Dore knows racing and is wasted where he currently is. What we need is a clear strategic path of direction, removing Michael Guerin, Jason Teaz and the like is ridiculous. These guys know racing through and through but got removed for probably being outspoken in their dislike of the saturation of an inferior product at the expense of the NZ product. Until you remove that mentality of leadership we will continue down the current path of being a sunset industry. It’s reckless, and serves little purpose as they are turning punters off.
What we want is a quality NZ product which is most important for our industry to survive.
100% correct Michael and now that Winston has tipped in 72.5 million we can resurect the industry under the right (knowledgeable) leadership.
Michael Dore was there for 20 years but always pushed to one side instead of up the ladder (beware of the person frightened of being replaced) …..his passion was second to none and he could have delivered.
He designed a betting platform which was brilliant….but John Allen said NO to it and went with the ‘Dogs breakfast’ we now have (although I am informed he wished he hadn’t) …..and once again Michael pleas fell on deaf ears.
We have a chance this time with a new CEO to be appointed for the new racing season ….lets not waste it AGAIN.
Dean MacKinze,s letter of responce to the Covil Govt was just fabulous.
Dean must have been a razor blade thinkness of falling on his sword.
Telling the straight out TRUTH seems to be a forgotten QUALITY of man kind,
and your behind the closed door lack of transparency continues as disgusting
as it gets for a Shareholder.
Now the truth, Covid saved RITA, thats right Dean and thats what we want hear from your lips , Captain, Boss, Sir , Chief, and if you subscride to any of those titles , show us you care and take a pay cut , anything , $1.00.
Why ?, because we YOUR people have.
Right ,now lets sit back and watch Rita blow $72 mill.
My wager is between 2 and 3 years with poor stakes the norn and it will be gone.
But we will have 3 all weather tracks and yes 10,000 beautiful industry day $$$$, and 5 horse fields, come on be positive ,every runner will get a prize
Steve Herlihy
Tomorrow 20 tracks across the country will no longer be used for racing. They will be the easy targets such as Stratford, Gore. But will Trentham be in the mix? In all honesty even with its long history its probably one that should be slated to close. The Wellington Racing Club in its halcyon days was an excellent venue but overtime has been cannibalised by poor management at all levels much to the demise of the club’s prosperity. It’s cup carnival is a shadow of its former self. There is only so much land you can sell before you have no more left to prop the financial accounts up.
Close Trentham, My Dad will turn in his grave, and WD , it will send Des to his.
Its worth the most, sell it, RITA will need the doe at some stage, but I don’t think Dean would have what it takes.
Its beyond belief that the Flemington of NZ will need to close so that our administration can continue on its extravagant ways.
But think of what it would bring.
Hey lets sell Trentham and put it in to high end stakes ,
have 8 of 10 $2,000,000 races a season, but please not into the maidens
and 65 rated race.
That would only encourage people into ownership, and acknowledging
NZTR/RITA’s on going performance, we obviously don,t want that.
Begs the question, how does RITA have the rights to the Stratford community land which has always been used for other activities outside racing ?
What massive amount of hard local graft to retain ownership, mean while,
down the road New Plymouth’s failure to keep up with there rates account traded their land for a $1 a year rates deal with the NPDC.
Another thought, how many jockey’s will survive ?, jumps jocks nothing
until next winter!
What a crazy world, a bug gets lose in some place called Wuhan half a world away and our GOVT jumps to a height of $72 mill in resuscitation .
I,m going to increase my bubble to Flemington,
its still got what we once had.
PS Why do so few use this great platform, are you died, or are you
too busy packing for Aussie.