BELLS, WHISTLES AND OCCUPYING NATIONAL DAY

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(www.fasttrack.hk)

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HE MIGHT BE “THE WORLD’S BEST JOCKEY”? REALLY???

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For an organisation that’s known as the International Federation of Horse Racing (IFHA), it remains a somewhat low key group that many might say is the Rodney Dangerfield of horse racing.

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Posted in brett prebble, casper fownes, HAPPY WEDNESDAY, Hong Kong Jockey Club, Hong Kong Racing, Horse Racing, HORSE RACING AND SOCIAL MEDIA, richard gibson, The horse racing industry, WINFRIED ENGELBRECHT-BRESGES, www.fasttrack.hk, zac purton | Tagged , , , , , , | 1 Comment

JAMES MATHERS ON THE ATC AND ITS FINANCES

(Fasten your seatbelts

As mentioned I attended the ATC members forum at Rosehill last Saturday. A presentation was made in respect of the financial performance and position of the ATC as at 30 June 2014.

There were no financial statements provided to the meeting. Notwithstanding this, the ATC reported a very healthy EBITDA resulting from its “controlled operations” with a figure of $14.9m.

I won’t comment on this result until such time as I have been able to review the audited and published financial statements but I will say I was very surprised. I hope we aren’t seeing some creative accounting / intervention from RNSW (they would love to see the ATC have a spectacular but misleading financial result….it makes racing in NSW look good!) as we lead up to the ATC’s first ever board election……I and others remain highly suspicious. Once I receive the financial reports I will make further comment noting that in February 2014 the ATC was seemingly reporting a grim financial position as hinted below!!

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MR. SMITH MIGHT HAVE GONE TO WASHINGTON, BUT JAMES MATHERS WENT TO ROSEHILL LAST SATURDAY (PART 1)

MR SMITH MIGHT HAVE GONE TO WASHINGTON

I attended the ATC members forum at Rosehill on 27 September.

It was a very slick presentation from Darren Pearce and his team. If their expectations are realised it’s all blue sky for the ATC from here. I certainly hope so as we all do. I stated a few days ago that I would get back to you in relation to TVN.

I was particularly interested in the recent media commentary on the proposed agreement between TVN and the Seven Network. My interest in this matter goes to the significant income flows expected by virtue of the ATC’s 50% shareholding in TVN. If the deal proceeds as disclosed in the media, I expect there would be a massive windfall to the ATC of around $20 million per year for 10 years.

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Posted in Australian horse racing industry, Peter V'landys | Tagged , , , , , | 1 Comment

JAMES MATHERS AND MORE PROBING QUESTIONS

PROBING QUESTIONS

Dear Sir,

in June 2013 the New South Wales government agreed to extend Tabcorps exclusivity period for a further 20 years for a consideration of $75m.While I understand and respect that decision it is my view that the industry itself should be operating a tote and by granting Tabcorp the 20 year exclusivity term the government was eliminating this possibility for the longer term. I hasten to add that I am not a Tabcorp “knocker”. They have been a wonderful supporter of racing in NSW however it should not be forgotten that thoroughbred industry has also supported Tabcorp.

I see significant financial benefits to the thoroughbred industry in operating its own tote including:

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JAMES MATHERS ON TVN

tvn

Dear Sir

I am delighted to read of the proposed agreement between TVN and the Seven Network. If the financial arrangements are as outlined i.e. $60 million per year for 10 years then that is a major windfall for the ATC.

I haven’t always been a supporter of TVN however that was back in the days when I knew very little about the importance and significance of media rights.

After I joined the committee of the AJC, the then Chairman David Hall explained the background to TVN and it was then that the “penny dropped”.

TVN is a fabulous asset, and incredibly valuable asset of the ATC secured through the outstanding work of David Hall (AJC) and Alan Brown (STC).

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JAMES MATHERS FIGHTS THE GOOD FIGHT

David and Goliath

Dear Sir

Thank you very much for your encouraging comments.

Since my last post I have been contacted by CEO ‘s of two leading race clubs in NSW lending their unqualified support. They are fed up with the bullying of RNSW , their lack of integrity, lack of support, vision and their lack of a strategic plan. One said the only plan for RNSW is to get more money from the NSW Govt and increase prize money. I suggest RNSW is underestimating Premier Baird and his cabinet. RNSW should understand the needs of the current government eg hospitals, railways, roads and schools.they would be far better off embracing Government objectives rather than trying to exercising bullying tactics .

RNSW should have a plan,I have one but they don’t.

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Posted in Australian horse racing industry, Horse Racing, HORSE RACING AND SOCIAL MEDIA | 2 Comments

THE HOPE SPRINGS ETERNAL ISSUE

HOPE SPRINGS ETERNAL FOR NSW RACING

THSEI 1

Last week’s post highlighting the continuing basket case that is NSW racing and its administration, provoked one of the strongest responses since we started Racingbitch on all things racing many Green Moons ago.

Out of the ashes always springs life, and with life brings hope. And so it was this past week, when we received a detailed email from James Mathers, a person we do not know, but would like to.

James Mathers comes across, and is very obviously, a most passionate person, who has demonstrated the sort of courage which is rare and is needed so desperately- and in bucket loads- in Australian and, particularly, NSW Racing.

His well-articulated and constructive open letter accurately fingered the problems and individuals and decision makers responsible for steadily and successfully taking NSW Racing to such low levels where it has lost its identity and struggles to define what it stands for.

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Posted in Australian horse racing industry, Horse Racing, HORSE RACING AND SOCIAL MEDIA, Marketing of horse racing, Racing NSW, The horse racing industry | Tagged , , , , , , , , , , , , , , | 3 Comments

THE LATE ENTRY OF THE WORLD’S BEST JOCKEY AND THE FAST TRACK HK RACING ROUNDUP

THE LATE ENTRY 1

THE LATE ENTRY 2

http://www.fasttrack.hk

SACRE BLEU, HONG KONG TO HOST IFHA’S “WORLD’S BEST JOCKEY” PRESENTATION! BUT WHO KNEW ABOUT IT? AND WHEN?

THE LATE ENTRY 3

Some of us only learnt last night that racing’s newest International Award – this one for the already up and running International Horse Racing Federation’s World’s Best Jockey-will be presented during Hong Kong’s International Race Day festival in December.

When this award was made known to the media, we have no idea, but, surely, it must have been months ago, and which must have somehow gone over our heads like airplanes.Yes? No?

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Posted in brett prebble, DOUGLAS WHYTE, Hong Kong Jockey Club, Hong Kong Racing, Horse Racing, HORSE RACING AND SOCIAL MEDIA, JAMES MCDONALD, JOAO MOREIRA, The horse racing industry, www.fasttrack.hk | Tagged , , , , , , , , , , , , | Leave a comment

THE ATC TAKES ANOTHER POUNDING

The Hangover

I’m an ATC member and have been racing professionally for 46 years. I was at Randwick last Saturday. It’s going to take a big effort to get me back to the ‘new’ Randwick on a feature day again. OK, I’m mid-60s and admittedly not quite so energetic these days (by definition “yesterday’s man”), but it’s become all too much at this venue for myriad logistical and economic reasons. Unlike Rosehill, which I enjoy immensely (and hope against hope they don’t bugger up).
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NOT A GOOD DAY FOR THE ATC

Joker from Batman

Agree with pretty much all of this. One great example of price gouging- at a recent Randwick meeting we were paying $47 a bottle for the non-vintage Chandon (so about $20 more than it’s worth), which I’ll accept as we were out & that’s just part of the experience. Then we had the misfortune of visiting the Stables, waiting 20 mins to get served, & paying $58 for the same bottle. Needless to say, I’m not that keen on going back to a dingy club with massive queues to pay $11 more for the same drink….

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