Public announcement - stakeholder meeting

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1 week 3 days ago #768229 by Bob Brogan
Bob Brogan created the topic: Public announcement - stakeholder meeting
Public announcement on significant stakeholder meeting on the South African horseracing industry – Thursday 8 August 2019

On 22 July 2019, a meeting was held with various industry players and some significant stakeholders in the horseracing industry. The purpose of the meeting was to discuss, the challenges facing the industry, as well as the scope for cooperation to benefit and improve the industry in South Africa. Those present recognised that in order for the industry to be more sustainable, it would need to be more inclusive, working and focussing on a far greater participation by previously disadvantaged persons.

Those present acknowledged that the horseracing industry urgently requires some form of restructuring and the involvement of various industry players and stakeholders, including the South African government. This restructure will be crucial in achieving the vision for an inclusive, financially sound and sustainable horseracing industry.

Amongst the various ideas suggested and discussed was the creation of a single body that would oversee the horseracing industry in South Africa. Once again, the backing of various stakeholders and the South African government in creating such a single body will be crucial to its success. Additional due diligence, process and consultation still has to be researched in order to explore this feasibility.

In this regard, a horseracing industry restructure committee is in the process of being established, together with the terms of reference for such a committee, which will involve, amongst other things, researching and recommending potential strategies and opportunities for the industry. The ultimate vision is to get to an inclusive, financially sound, transformed and sustainable industry for the benefit of all South Africans.

The recent amendments to the Gauteng's Gambling Regulations in respect of the distribution of the tax levied on punters' winnings is damaging and harmful for the horse racing industry and will create liquidity constraints. The unilateral removal of the distribution of a portion of the tax levied on punters' winnings by the Gauteng Gambling Board will create an almost insurmountable problem for the operators. We would urge that the authorities reconsider this decision in the interest of all employees of the industry.

It is estimated that between 120,000 and 180,000 people, many of whom are breadwinners for their families, are employed within the industry in South Africa. These include groomsmen, trainers, jockeys, breeders, bookmakers and owners. Their livelihoods and ability to feed their families will be in jeopardy should this industry not be a successful one.

Engagements between industry players and stakeholders are ongoing and further updates will be communicated in due course.

Phumelela Gaming & Leisure Limited is viewed by many in the industry as pre-eminent in the South African racing and gaming environment. As such, in order for the industry to succeed, this body also needs to succeed. The executives of Phumelela, Gold Circle and Kenilworth Racing have largely indicated that they are in support of the above initiatives.

It is imperative that all people involved in this industry, no matter how big or small, need to stand together to ensure that this industry is placed on a firm footing for the benefit of the future generations.

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1 week 3 days ago #768234 by jim
jim replied the topic: Public announcement - stakeholder meeting
this is so informative. wonder which industry players and significant stakeholders cracked the nod. i suppose they will reveal the master plan in their own good time

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1 week 3 days ago - 1 week 3 days ago #768235 by Bob Brogan
Bob Brogan replied the topic: Public announcement - stakeholder meeting
If they save racing , it’s good news for some, but bad news for others

Some rumours ( a few have already come true )

Tote to be run by PGE

Racing under one umbrella ( can’t see this )

Kimberley and Durbanville to close

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Last Edit: 1 week 3 days ago by Bob Brogan.

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1 week 3 days ago #768238 by Dave Scott
Dave Scott replied the topic: Public announcement - stakeholder meeting
A lot of words and a lot of work.

Would this working group or saviours still have other executive day to day jobs whilst steering this massive task?

Hope for the best and sure the working group need help and support from all players in the industry.

Have to remove all the politics and power struggles normally attached to change.

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1 week 3 days ago #768245 by Over the Air
Over the Air replied the topic: Public announcement - stakeholder meeting
And they all lived happily ever after.

That press release does not deserve my time in answering.

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1 week 3 days ago #768246 by Dave Scott
Dave Scott replied the topic: Public announcement - stakeholder meeting
Maybe a copy of attendees and minutes would have been more informative to clarify what is actually happening and when?
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1 week 3 days ago #768247 by Sammy Silver
Sammy Silver replied the topic: Public announcement - stakeholder meeting
This is sad sad sad!!!

After Jooste and his cronies messed up Phum, now they want to be inclusive.

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1 week 3 days ago #768248 by Frodo
Frodo replied the topic: Public announcement - stakeholder meeting
I could have written that 'Press Release' - a lot of waffle and zero details :ohmy:
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1 week 3 days ago #768254 by Sylvester
Sylvester replied the topic: Public announcement - stakeholder meeting
glad i am not the only person who read this and thought. WTF no info of any use. agree with Dave make the Minutes of the meeting available.

what is frustrating is the RA are completely missing. We have Harvey Wynberg Earning a fortune but not keeping his stakeholders up dated while this crisis is ongoing. Disgraceful.

Owners will be impacted by lower Stakes, Grooms trainers owners will be impacted as their 7.5% or such will drop. Less horses will be owned in the bottom and middle teir owner grouping. why is RA acting like the FBI or CIA. Constant consistent COMMUNICATION would be the best option to help eliminate frustrations and rumors.

Frodo wrote: I could have written that 'Press Release' - a lot of waffle and zero details :ohmy:

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4 days 4 hours ago #768704 by Bob Brogan
Bob Brogan replied the topic: Public announcement - stakeholder meeting
No much happening?

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4 days 4 hours ago #768705 by jim
jim replied the topic: Public announcement - stakeholder meeting
bob be reasonable. lots of parties to get through at the moment. all in good time

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African Betting Clan is established for the upliftment of the sports punter, who enjoys a bet on horseracing, football and other sports, enabling them to voice their views and opinions on all aspects of the sport of their choice, free of charge. Everyone who joins the CLAN, can discuss a multitude of sports events with a view to increasing the knowledge-base of all interested parties. Horse Racing is by far the most represented sport and we welcome the views of the many owners, trainers, punters and all racing stakeholders, all of whom post their contributions on our discussion forums. Members glean what they want to and discuss selections for the day and the general well being of the sport.

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