In this Discussion
- bookielover August 2017
- Bucks March 2017
- buffy August 2017
- carey December 2017
- Chariotsonfire October 2017
- DamienWyer October 2017
- Fastmoney October 2017
- Fight_Milk March 2017
- goose August 2017
- Jell October 2017
- lame March 2017
- meatpie August 2017
- Nevershowsurprise October 2017
- paraletic September 2017
- Ridersonthestorm33 December 2017
- RIO December 2017
- Rodent October 2017
- runyon August 2017
- SLIPPERGOLDEN May 2017
- spinking March 2017
- Tarantula August 2017
- TheDiva October 2017
- thefalcon December 2017
- TheFunkster March 2017
- Thumper December 2017
- Tivers August 2017
- tony September 2017
- whipitgood May 2017
Who's Online
0 Members & 112 Non Members
Comments
RWWA Records 4.5% Lift in Annual Profit before Industry Funding
Racing and Wagering Western Australia (RWWA) has today
announced its financial results for the year ending 31 July 2017,
highlighting a 4.5% increase in overall profit before industry funding.
“RWWA achieved a positive financial outcome with overall profit
before industry funding increasing by 4.5% from $140.8M in 2015/16 to
$147.1M in 2016/17,” said RWWA CEO Richard Burt.
In 2016/17 a record allocation of $152M was distributed to the
Western Australian racing and sporting industries, an additional $3M
from the previous year.
Since RWWA’s inception in 2003, annual funding to the industry has
increased from $63M to $152M; a 141% increase over a 14 year period.
A further $29M of funding was dedicated to racing administration and
integrity services, leading to an overall funding commitment of $181M
for the year.
“The racing industry is an important contributor to employment,
participation and economic development within Western Australia. The
industry generates more than $821M in economic contribution to the State
and has over 24,000 people participating in the sport,” said RWWA CEO
Richard Burt.
“Racing enjoys mass participation across the state with 823,000
people attending race meetings annually and has a heritage that needs to
be acknowledged and supported for future generations.”
Whilst lowering betting values resulted in a decline in wagering
revenue from the TAB of 4.14%, the strong margin across the year from
pari-mutuel and fixed odds of 17.1%, assisted to offset the turnover
result. Furthermore, income from interstate wagering operators betting
on Western Australian racing increased by 11%, a total of $5.3M for the
year.
As part of the record funding level, $5.8M was provided towards RWWA
funded infrastructure grants to race clubs for maintenance and renewal
of racing and public facilities.
In addition to RWWA funded grants, the Western Australian Government
contributed $1.9M during the year, through the Royalties for Regions
program toward racing infrastructure grants. It is expected the
remaining Government funded grants of $2M will be committed and expensed
in 2017/18.
During the year, RWWA commenced development of new strategic plans
for each of the three racing codes. These plans are important in
communicating and gaining stakeholder support for each code in order to
achieve positive long term commercial sustainability. Full
implementation of the code plans will occur following consultation with
industry in early 2017/18.
For the first time RWWA has provided a breakdown of statistics
regarding greyhound euthanasia and rehoming numbers in its annual
report.
The statistics highlight a decrease in euthanasia relating to
greyhounds not being suitable for rehoming of 93% from the previous
year. The dramatic decrease is due to a number of strategies being
implemented by RWWA’s integrity department, including mandatory
behavioural assessments for retired greyhounds, increased investment in
RWWA’s rehoming initiative (Greyhounds as Pets (GAP)), enhanced data
capture and tracking, and stricter breeding controls.
The statistics also highlight a 102% increase in adoptions through
GAP, with a total of 245 greyhound being rehomed by the program in
2016/17.
“RWWA is committed to ensuring that the best levels of care are given
to greyhounds throughout all stages of their lives, through a program
of investment, education, monitoring and regulation. When a greyhound
retires from the racing industry, at any age, RWWA aims to achieve every
healthy and behaviourally sound greyhound being rehomed,” said RWWA CEO
Richard Burt.
As a comparison Tab-corp CEO annual salary $3.19m, Racing Victoria CEO annual salary $1.5m.
RIO likes this post.
I have no problem with CEO's being paid well providing the product they put forward is up to scratch.
The TAB runs a decent betting website in my opinion. I can't speak for the retail outlets because I don't live over East. Never had any problems betting with them and they frame their own markets, I do understand they're much larger though.
I have a problem with CEO's getting paid well and pay rises when their product is inferior and quite frankly a steaming pile of...
There are so many issues with the WA TAB. I send constant Tweets, SMS's and Emails regarding these issues, to try and get some clarity but never receive any answers.
"Since RWWA’s inception in 2003, annual funding to the industry has
increased from $63M to $152M; a 141% increase over a 14 year period."
To work in a Government enterprise and be paid more than all your contemporaries in those enterprises, means you are at the top of the tree.....And this bloke is no longer performing at that level. After 3 years of trying to get a solution for the industry he still cant make it happen. He has failed and should be moved on. The salary isn't an issue for me. If he was getting paid 2mil or 200k, it will always be reflective of what the market price is to get someone to do that job.
Comparing him to other racing jurisdictions - even NZ - is not relevant. He is a head of department in the state government, you compare his salary to other heads. That is who he is being measured against.
Pretty sure the NZ example is similar to the WA Government pay scale, NZ Racing Board CEO highest paid Government department head in NZ
the thing with NZ is the only relevant comparison. Both department heads are he highest paid. One is a country or federal level, and the other is a state level. It's fun to compare them but not relative to value of remuneration in my opinion.
As stated, If RWWA had an effect CEO i'd not complain if they were paid $2mil. Dickie B has had 3 years to sort this mess out and has not achieved it...We all know he's been pushing shite up hill to get agreement on anything...but that is his job. He's not achieved it. good bye, let someone else have a try!!
Page 3 headline "Council CEO`s earn more than the WA Premier" would get the same response even though all the info is readily available.
90% of the population get their opinions shaped by headlines and social media and most of those opinions aren`t based on facts but on snippets of information that sensationalize issues.
The majority of racing's problems started 10 years prior to RWWA and were the very reason RWWA was formed.
Not sure any individual is going to make any significant difference to the overall TAB and RWWA performance.
PR execs and a few high profile Thoroughbred participants are pushing for more control and they have a strategy to fix Thoroughbreds by rationalizing Harness tracks and redistributing Harness distribution back to Thoroughbreds (despite the most recent report showing Thoroughbred pare mutuel turnover at 50% and their distribution at 63%).
The problem in WA is that Government doesn`t value Racing (similar to QLD, SA & TAS) and with the current economic environment that won`t be changing.
RIO likes this post.
increased from $63M to $152M; a 141% increase over a 14 year period."
And?
How have the codes benefited? In what ways are we better off as an industry than we were 10 years ago?
RIO likes this post.
Even in our darkest moment as an industry there are people fighting over the last breath from the dieing beast.....All the more reason why Burt has failed as a CEO and needs to be moved on. Anything that is going to be managed by an association that hasn't ran at a profit in the past decade, trying to take over the industry would be the catalyst for me to find a new hobby!!!! Gee imagine how good it would be for the studs and stakes money distribution. Us little fish would be destroyed
If he was to finish up tomorrow what would his legacy be? Nothing.
The biggest issue the industry has is that the funding model which is about 50% reliant on the profits of the WA TAB. It's only a matter of time before it's sold and we'll be stuffed under the current funding model.
If he wants to be remembered for something be the man to uncouple the TAB from RWWA and create a funding model that is not reliant on ownership of the WA TAB. Flogging a dead horse complaining about the amount of tax the TAB pays given it will sold and that income stream won't be there any way.
RIO likes this post.
Median house increase between 2007 and 2016 around 15%.
RIO likes this post.
A good, but expected outcome. If they had the industry growing in leaps and bounds with private market injection of cash and Government help - like in NSW and Vic - then that would be something to really give them credit for. Not only keeping up with local market expectations but also with Industry growth expectations. They've achieved one, not the other.
I'm glad they have stabilized our industry over their time. I hope they continue doing so. But that performance over 14 years is nothing special
NSW...VIC....QLD....WA....National
71%....56%..63%..123%...65%