The Penguin #6.
Juniors
- Messages
- 1,161
" Crowds were back for the Melbourne Cup but the VRC made a big $17m loss in 2022, and has borrowed more money from the ANZ its financial accounts reveal."
"Its accounts, lodged in recent days, reveal a business model that’s still wholly reliant on four days of racing over the calendar year, with losses and liabilities prompting the board to scramble for more funds to address a burgeoning financial hazard."
" These losses rose to $16.96m from the $14.94m reported by the VRC after the misery of 2021. Its liabilities currently exceed its asset base by $26m, up from $20.1m last year. Revenue increased to $172.2m – up 23 per cent – but so did expenses, climbing 26 per cent to reach $174.3m.'
And from known V`landy`s hater Andrew Webster :
" Let us give praise and thanks to The Great V’landys for the present strength of Sydney racing.
The first day of The Championships at Royal Randwick featured so many quality horses, you didn’t know where to look. The second day, headlined by the $4 million Queen Elizabeth Stakes on Saturday, featuring equine rockstars like Verry Elleegant, Zaaki and Anamoe, will be equally eye-popping.
" The course was heaving with people who wouldn’t normally frequent the track."
" V’landys created The Everest (worth $15m), Golden Eagle ($8m) and other races. This November, he’ll be holding The Big Dance ($2m) on the same afternoon as the Melbourne Cup.
" Racing purists down south scoff at these so-called “pop-up races” but the sheer scale of prizemoney is attracting quality fields and therefore more punters and therefore more revenue for NSW racing.
“The punter is staying with us for 12 months, instead of leaving us every spring and going to Melbourne, so our revenues have gone up 50 to 60 per cent,” V’landys says. “Which basically means we can put it into prizemoney. The more prizemoney you have, the better fields you have.”
And meanwhile NSW Racing sits on $170m worth of assets. This is the V`landy`s modus operandi.
"Its accounts, lodged in recent days, reveal a business model that’s still wholly reliant on four days of racing over the calendar year, with losses and liabilities prompting the board to scramble for more funds to address a burgeoning financial hazard."
" These losses rose to $16.96m from the $14.94m reported by the VRC after the misery of 2021. Its liabilities currently exceed its asset base by $26m, up from $20.1m last year. Revenue increased to $172.2m – up 23 per cent – but so did expenses, climbing 26 per cent to reach $174.3m.'
And from known V`landy`s hater Andrew Webster :
" Let us give praise and thanks to The Great V’landys for the present strength of Sydney racing.
The first day of The Championships at Royal Randwick featured so many quality horses, you didn’t know where to look. The second day, headlined by the $4 million Queen Elizabeth Stakes on Saturday, featuring equine rockstars like Verry Elleegant, Zaaki and Anamoe, will be equally eye-popping.
" The course was heaving with people who wouldn’t normally frequent the track."
" V’landys created The Everest (worth $15m), Golden Eagle ($8m) and other races. This November, he’ll be holding The Big Dance ($2m) on the same afternoon as the Melbourne Cup.
" Racing purists down south scoff at these so-called “pop-up races” but the sheer scale of prizemoney is attracting quality fields and therefore more punters and therefore more revenue for NSW racing.
“The punter is staying with us for 12 months, instead of leaving us every spring and going to Melbourne, so our revenues have gone up 50 to 60 per cent,” V’landys says. “Which basically means we can put it into prizemoney. The more prizemoney you have, the better fields you have.”
And meanwhile NSW Racing sits on $170m worth of assets. This is the V`landy`s modus operandi.
