Racing Structure

Apologies to posters if this has been posted already

Please see www.goldcircle.co.za/Publications/Factbook/sar_fact.pdf

Very much along the same lines as the Japanese model that went around by email. I find the betting trends interesting. It appears that where on and off course sales have fallen slightly, the online environment is growing. May say something about the facilities on offer.

The report, as far as I am concerned proves that racing is carried on the backs of the poor, stuck in dog hole totes. Time for change please.

that's a fact! looong overdue.

Very nice report hey Don. Pretty similar to the Japanese one dont you think?

3MB so might take some time to download for some. Worth the wait though.

.yes, just sad they're in the red. Check their financial statements on the website.....huge bank loans....

yes layouts and pics beautiful...but the strategy model in conjunction with Phum's model is Australian.....SAF is far removed from the Japanese model.

www.goldcircle.co.za/GoldCircle/GC%20AR%202009%20for%20web.pdf

see the financials for the same period....

1. Seems to be no direct corralation between comingling income and reduction in international operations income due to the recession. Not sure where the bulk of comingling income is derived but I would guess the UK (down 10,5%). Income from these operations only decreased by 5%. Included in this are agreements that have since been cancelled. May be another story next year unless new agreements are in place.

2. Betting world income dropped by 46%. Eish

3. Comingling although an important instrument to derive income suffered in countries most affected by the recession. Yet it was continually flogged and we were the lucky recipients of phantom punters which appeared to have vanished. Correct me if Im wrong.

4. Technologies are exciting. We have discussed self service equipment on this site before. Great.

5. A whole section dedicated to Transformation but nothing on the Transformation Trust other than R655 000 noted on the balance sheet. Is this initiative going to fall by the wayside. An area that needs to be developed if we are to see growth in racing. We would be naive to think that wealth is not starting to slowly shift to the Black Diamonds. If racing does not acknowledge this now it may be too late for racing and growth will be stunted indefinitely. Yes their is empowerment representation at board level but very little at training level, the second most visual level to Jockey's.

6. Termination benefits Executive R3 132 792 - Golden hand shakes? R1 640 000 still to be paid. Scary when you consider the investment in the Transformation Trust.

7. Less cash in investment activities 2008/9 = less investment income

Any other comments?

the transformation fund cited is meant for governmental statistical representation transformation I presume, not for strategic transformation....dunno. I agree on the training issue, not enough done - both on inside/employees and stakeholders (punters/public who are not informed about racing). Word on the street is there were handshakes...at Kenilworth RC in particular....
Also, note the increasing partnership with Phum. May be a wedding soon...and the bride will adopt the 'racing as something to bet on' strategy.

btw, i'm confused about Victor Chandler seeing a market in SAF? there isnt even enough punters going around to fund the main bodies!

For me VC is a strategic move whose life in SA will be as long as the World Cup. Cannot see them catering for the SA Market long term. If they are here long term, it sees more value in the SA punter than the operators do.

Perhaps we can trade with England, Betfair and all the bookies in exchange for SA's totes? (lol)