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Who Governs Victorian Racing - Vic Gallops - Racehorse TALK

Author Topic: Who Governs Victorian Racing  (Read 6328 times)

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Offline gunbower

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« 2017-Jan-29, 08:35 PM Reply #25 »
Didn't take part in Geelong Today. Just didn't fancy it from when acceptances came out. I see old Mr Mair is whinging so I probably should have ! I wonder if anyone has any thoughts on Cessnock. Just looked like a leader's paradise there.

Offline ratsack

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« 2017-Jan-29, 09:05 PM Reply #26 »
Indeed Cesspool was a bit leaderish which is not unusual
Found the leader in one race
Chinese tonight  :beer:

Offline Arsenal

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« 2017-Apr-19, 07:44 AM Reply #27 »


Finally first steps taken at RV!

BY Bruce Clark - @snowyclark

11 hours ago Horse Racing

Racing Minister Martin Pakula is pushing governance reform


It's pretty boring isn't it? Yet it is very significant.

The typically bland, banal, Racing Victoria (RV) press release advises "that the Members of RV have met today and unanimously approved special resolutions to amend the RV Constitution."

"The special resolutions relate to a reform of the RV Board Director appointment process in line with the proposed amendments announced by the Minister for Racing, The Hon. Martin Pakula MP, in December 2016."

Well they didn't have many options. So news to the contrary would have been news to the contrary.

What the press release means in simple, and won't change your life terms, suggests the composition of the next RV Board will be vastly different to the current make up.

This has already been driven in reform by Pakula.

G1X.com.au understands Michael Andrew (appointed 2016) and former chairman KPMG and Alice Williams (Foreign Investment Review Board) would not just survive but flourish on an Pakula's visonary new "independent board".

We are not sure of the other incumbents.

RV acting chairman, Mike Hirst appropriately said: "I wish to acknowledge the Members for their support of these amendments to the RV Constitution.

This is just RV reading the wind and kicking with the breeze of short term survival as the minister circles.

"Subject to Parliament not disallowing the amendments, it is our expectation that any changes to the RV Board will be constituted in the third quarter of this year," Hirst said on Tuesday.

"Victorian racing is in a very strong financial position with exceptional participation levels and record interest from punters with turnover up over nine percent this financial year."

Yes but under the changes the minister (Pakula) can appoint the directors of the RV Board "upon the advice of an Advisory Panel consisting of the Secretary of the Department of Justice and Regulation (or nominee), along with nominees appointed by the Minister for Racing, Victoria's metropolitan clubs, Country Racing Victoria and the Industry Body Members."

The Minister will also appoint the board's chair and deputy chair from amongst the appointed directors.

The RV Board will be reduced from 11 to nine directors (including the chief executive) with no fewer than three current directors to continue on a newly-constituted Board.

Appointments will be for terms of up to four years, with a maximum tenure of 10 years for new directors and 12 years for current directors.

"It is no longer appropriate for the Board of Racing Victoria to be chosen by the people and organisations that it regulates."

"It's vital that an industry of such importance has a modern and independent governance structure to match," he said.

You can read Martin Pakula's concerns as to Victoria's governance structure for the thoroughbred industry as way back as this on G1X.com.au

http://bit.ly/2nY5WhW

Giddy Up :beer:



Online wily ole dog

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« 2017-Apr-19, 01:42 PM Reply #28 »
So an independent governance structure :chin:

Surely that entails seeking to develope national programming

Offline jfc

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« 2017-Apr-21, 03:37 PM Reply #29 »
Look forward to reading RVL's report disclosing how racing is up 8%.

https://www.racing.com/news/2017-04-21/giles-thompson-appointed-rv-ceo

Online PoisonPen7

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« 2017-Jun-21, 07:30 AM Reply #30 »
Tabcorp merger with Tatts leaves Racing Victoria with big legal bill

Patrick Bartley

Victorian racing took an expensive punt by fighting the Tabcorp and Tatts merger, and lost.

The decision to fight the merger, which has been given the green light, is going to be costly.

Silks don't come cheap,  and there were plenty of them in the Australian Competition Tribunal for 14 days of hearings.

It was always a bold move by Victorian racing administrators, who said they were concerned that the merger would stifle competition for Victoria's next wagering licence in 2024.

But it's the state government that receives licence payments and structures the flow of money to racing. It didn't oppose the merger, with Racing Minister Martin Pakula, in fact, encouraging the merged company to extend its Victorian operations.

"Victoria is proud to have had Tabcorp headquartered in Melbourne and the company has made a significant contribution to this state. If there was to be a merger, the government encourages any merged entity to remain in Victoria and continue to grow," Pakula said.

"Racing Victoria's decision to oppose the merger and the costs incurred is a matter for Racing Victoria and its shareholders. I also note that the three codes as a collective are jointly represented in the matter."

Racing Victoria CEO Giles Thompson gave his evidence at the tribunal behind closed doors because of "extra highly confidential" documents.

In opposing the merger, Racing Victoria lined up with corporate bookmakers, such as CrownBet and Sportsbet.

They wanted a number of conditions attached to the merger and didn't get any. It also pitted Victoria against every other racing industry in the country, as well as jockeys and trainers. They all wanted the merger, which promises an extra $50 million to racing each year. And the onus is firmly on Tabcorp to now deliver what it's promised.

The affair has showcased the awkward relationship that exists between Victorian racing and its major funding provider, Tabcorp. Victorian racing is friendly with corporate bookmakers. Corporate bookmakers are a big part of the racing landscape. But, unlike the TAB, they return much less to racing and do not pay any wagering tax in Victoria.

Betting on Victorian racing is surging yet RV's returns from wagering actually went backwards last year.

The growing problem is that when betting dollars leave the TAB to a corporate bookmaker, racing is substantially worse off. And more worrying is that questions are being asked about RV actually encouraging it.

For every dollar a punter spends with the TAB, Victorian racing gets a fair chunk.

But if the punter bets with a corporate bookmaker then the industry only gets a return on bets on Victorian racing and it's a fraction of what it would get if they'd bet with the TAB.

So if punters are betting with a corporate bookmaker on a race in Adelaide, which will soon be promoted through Victoria's racing.com channel, Racing Victoria gets zilch.

"I recognise that race fields fees and sponsorship from corporate bookmakers are an important source of revenue for racing codes and clubs, and that the industry seeks to maximise those returns.

"However, I don't believe that this needs to be at the expense of the relationship with Tabcorp," the racing minister said.

Back at the tribunal. A lineup of ex-Racing Victoria heavyweights backed the corporate bookmakers.

Former RV CEO Rob Hines provided a submission on behalf of Sportsbet, which he consults to. One-time executive Paul Bittar, seen at the tribunal, has gone to also work for Sportsbet. Former director Andrew Twaits provided an expert submission for CrownBet.

Victorian racing has to reset its relationship with its major partner. The new board has the opportunity to do that.


http://www.smh.com.au/sport/horseracing/tabcorp-merger-with-tatts-leaves-racing-victoria-with-big-legal-bill-20170620-gwuu0w.html

Victoria, and their racing body Racing Victoria, were the only state body to oppose the merger (noted even Minister Pakula approved of the merger).

Funny that. That was exactly the same position as the corporate bookmakers.

I guess we'll never find out how much the legal bill is, just like we don't know how much Victorian racing is subsidising South Australian racing so that the corporate bookmakers that use the racing.com portal get some more content.




From the Bartley article:

Betting on Victorian racing is surging yet RV's returns from wagering actually went backwards last year.

The growing problem is that when betting dollars leave the TAB to a corporate bookmaker, racing is substantially worse off. And more worrying is that questions are being asked about RV actually encouraging it.

For every dollar a punter spends with the TAB, Victorian racing gets a fair chunk.

But if the punter bets with a corporate bookmaker then the industry only gets a return on bets on Victorian racing and it's a fraction of what it would get if they'd bet with the TAB.

So if punters are betting with a corporate bookmaker on a race in Adelaide, which will soon be promoted through Victoria's racing.com channel, Racing Victoria gets zilch.





But I thought some public figures have been saying (all starry eyed) how racing.com is responsible for enormous profits - or at least clearly implying it.

So who does actually "govern" Victorian Racing?

And is racing.com actually profitable, and operating in the best interests of Victorian Racing participants, including their "under siege" country participants? Or is this just more money down a black hole like TVN was.

Has clever lobbying over things like RVL board appointments in recent years delivered the actual ownership of Victorian Racing to parties who are milking it for everything they can get - and it should be added parties who are not domiciled in Victoria like TABCorp are.  :chin:

Offline Peter Mair

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« 2017-Jun-21, 10:06 AM Reply #31 »

The detailed evidence supporting this comment would be interesting to see.

"Victorian racing is in a very strong financial position with exceptional participation levels and record interest from punters with turnover up over nine percent this financial year."


I can only assume that the 'surging turnover' relates to the big 'cover all' bets, placed by professional syndicates, that are the way the TAB pools contributed by modest punters are knocked off.

Week in and week out the modest punters are effectively losing 100% while the  syndicates sccop the pools.

........... and the determination of RVL to deliver low-grade tripe and rough race results, only serves to destroy the brand and eventually drive punters to run closed-end betting clubs paying nothing to racing.


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