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Ridersonthestorm33 likes this post.
And don't forget ism pro selling and he still didn't have an intelligent point to add to the conversation..His right hand man however was incredibly well informed..........And that my dear friends is how yo be a successful Parliamentarian at the moment.
IMO Holt was only ever going to do what Colin told him to do. No matter what this industry group presented to him.
JayJay, thefalcon likes this post.
https://soundcloud.com/tabradio/feb-23-hour-3-michael-grant.
I'm pretty clear on what I felt needed to be done and how to lock in the future funding - which is of paramount importance - but the problem is in the detail.
How do TABTouch record their business transactions. With so much of the earn coming from interstate gambling - which most potential buyers already have access - can you value our local business in a way to ensure that it alone funds the industry?? I'd suggest the answer is NO, but until those figures and ratios are known it is hard to be too specific about what the conditions could be.
I stated along time ago that I thought the price for the TAB was about $100mil. That was based on giving it up so that the new purchaser would be more willing to keep the funding at its current level. However I am aware that the government would only sell if it achieved over $500mil. I sense that the government ahs now become fixated wit a sell price and once that happens then the purchaser will have no good will towards the local requirements.
The big surprise for me was being told just how much - or little - the local product contributed to the profitability of the TAB...and that is IMO the skeleton in the cupboard. how can we demand too much if our product ahs next to no value!?!?!?
Am under the pump at work, but will respond with a few specifics when I have time. I still want it sold, but we cant harm the ongoing requirements of funding and infrastructure grants that we now get from TAB funding..
The TAB is for sale not the racing product.
Whether the WATAB is sold or not, the turnover on all events (from WA punters through the WA tote) will always be part of the income which makes up the WATAB profit.
Although the Eastern States product incurs a product fee, a dollar placed on Ascot or Flemington basically returns the same amount to WA racing.
WARRG report states $33m paid in product fees and $31m received in product fees.
Ridersonthestorm33 likes this post.
People underestimate the link between racing and the TAB`s.
Underfunded racing has a direct link to poor betting turnover.
http://www.perthracing.org.au/docs/default-source/memberslibrary/wargg-report.pdf?sfvrsn=0.
Basically racing has an economy inside an economy trainers , Strappers , greenkeepers , barrier staff , bar attendants , feed merchants , accountants , bookies the list goes on
Its a self sufficient economy
But if you chuck another middle man in the mix that changes it all
No worse off is all I keep hearing but there's no positives like it will be better off
I'm sure diva has cause for concern as reading between the lines margin or turn over tax will be increased by the gov and I'm sure any purchaser will be given exclusive rights to all products that aren't available as yet like in play betting , best tote ect bit like crowns monopoly . So either you won't be playing on a level field or you'll have to purchase rights / pay a fee to be able to
Could a bookie do something similar to offer the same products or not viable /legal
would that bypass the legalities
BTW if TAB is sold I'm sure the gap will grow as I said they'll be bargaining with the gov for exclusivity which anyone else wanting to offer the same will no doubt have to pay a very large yearly fee for the privilege that's how business works when you have a middle man wanting he's cut
A lot of country clubs have had upgrades to facilities via the royalties for regions grants. You could probably set every club up for the next 30 years of facility upgrades for $100mil over about 20 tracks...whereas 100mil wouldn't get the two city track sup to speed and then there is still the issue of city training facilities....This is why it has to be a well planned continuous funding model that gets locked into the sale.
I'd be surprised if the real figure that is required for infrastructure lone over the next decade is greater than any value the government will get for the business.....Holt appears willing to be Colin's puppet... In fact he appears to be reveling in it.
RIO likes this post.
Guess the horse has bolted though , if the sale goes through there's not 3-6 years history to show the detrimental effect such a monopoly would have
=))
jum, RIO, Desperado, oldhendo, lame, JayJay, Chelsea likes this post.