Club Mgmt. 2017 Essendon Financials Statements

[Paul_Barnard]

To be fair Hawthorn would've merged if they'd gone through our scandal so you can understand the confusion.

Or relocated to Tassie and sell their home games there... Oh wait...

 

[Saint]

They make $20 million a year from pokies, which are almost as damaging to society as drugs, almost as addictive but more profitable. Just happens to be legal.

Imagine a football club founded in the inner-eastern suburbs, housed in the outer south-eastern suburbs. Flogging the poor folk of Caroline Springs for a massive whack of pokies revenue.

The sooner we're out of the grubby industry the better.

 

[Bombermania]

I'm in agreement with Saint, I get it that gambling is a personal choice and I am not anti-gambling but when it comes to the pokies they are by far the worst form of gambling because unlike other forms of gambling it is impossible for the punter to reduce the risk of loss.

If you play the stock market you can research a company or hedge against the stock going lower by buying puts or in horse racing or greyhounds you can research a horse or dog's form to see how it performs at that track or at that distance etc.

Pokies should only exist at the casino and nowhere else.

 

[daffo]

Great result by the club. Imagine what would happen if we finally win a final (or a flag). Just crazy.

 

[Saint]

I'm in agreement with Saint, I get it that gambling is a personal choice and I am not anti-gambling but when it comes to the pokies they are by far the worst form of gambling because unlike other forms of gambling it is impossible for the punter to reduce the risk of loss.

If you play the stock market you can research a company or hedge against the stock going lower by buying puts or in horse racing or greyhounds you can research a horse or dog's form to see how it performs at that track or at that distance etc.

Pokies should only exist at the casino and nowhere else.

I'm not even against pokies as much as that. Yes, it's a grubby industry, lots are. At least in the stockmarket your money represents the capital of the company (that's the whole idea of shares).

But the Essendon Football Club is a grass-roots community organisation. I can understand if companies like Woolies want to exploit people for profit. But a member organisation such as the EFC shouldn't be fleecing other members of society, particularly those in the Essendon area.

If we were going to have pokies, either do it as ethically as possible. Or do the opposite and put them in Collingwood.

 

[Beerfish]

I'm not even against pokies as much as that. Yes, it's a grubby industry, lots are. At least in the stockmarket your money represents the capital of the company (that's the whole idea of shares).

But the Essendon Football Club is a grass-roots community organisation. I can understand if companies like Woolies want to exploit people for profit. But a member organisation such as the EFC shouldn't be fleecing other members of society, particularly those in the Essendon area.

If we were going to have pokies, either do it as ethically as possible. Or do the opposite and put them in Collingwood.

The club is already publicly on the record as wanting to extract itself from reliance on poker machine revenue. I'm not sure exactly what their plan is or how long it will take or where they're at with it though.

 

[Lance Uppercut]

The club is already publicly on the record as wanting to extract itself from reliance on poker machine revenue. I'm not sure exactly what their plan is or how long it will take or where they're at with it though.

gee, I wouldn't say that exactly. I've heard Campbell talk about it and it was the more mealy mouthed statements that I've heard

 

[Beerfish]

gee, I wouldn't say that exactly. I've heard Campbell talk about it and it was the more mealy mouthed statements that I've heard

Eh you HAD to make me look it up..

ESSENDON will buck the trend of many Victorian AFL clubs by seeking to reduce its reliance on pokies profits.

Nine Victorian clubs shared in almost $90 million in net gaming revenue in the 2014-15 financial year, the Herald Sun can reveal.

The Bombers last month announced they would no longer consider sponsorship deals with sports betting companies.

The club’s board is now looking at its options in regards to its hold on 190 poker machines at two major venues.

Any move from Essendon to ween itself from the huge revenues brought in by its 190 machines, split between the Melton Country Club and the Essendon Football and Community Sporting Club, is expected to take years.

“Like the majority of clubs in the AFL industry we have a business model that is reliant on gaming generated revenue,” Essendon chief executive Xavier Campbell said.

“Moving forward, we feel it is important that we explore ways to be less reliant on our venues.”

http://www.heraldsun.com.au/sport/a...e/news-story/8289b5d307adeb0c7f1758e7508a3796

I wouldn't really call that 'mealy mouthed' but each to his own.

 

[boncer34]

"It is expected to take years"

"we feel it is important that we explore"

Doesn't exactly scream that is a priority.

 

[Mercurial89]

I wouldn't be trumpeting that we are cutting off such a huge source of revenue straight away either when we are facing record debt levels and legal battles.

We said we would get out of them when it is economically viable to do so, that means building alternate sources of income over the next few years and a slow phase out. It will happen, maybe not fast enough for some people but it will happen.

 

[boncer34]

I'm going to be extremely unpopular but I couldn't care if we're attached to them.

Someone's gotta make money off them, may as well be us.

 

[hurlygurdy]

I'm going to be extremely unpopular but I couldn't care if we're attached to them.

Someone's gotta make money off them, may as well be us.

Don't agree. This is a fight that can be won as a nation in the long term, but it will require individuals and organisations standing up and speaking out. I'd love nothing better than to see Essendon leading that charge, because if we can't then nobody can. I like to think the club is about as ethical as organisations get, so it's on us.

 

[Stopher]

YE $$

 

[Saint]

The club is the members, not anonymous shareholders. And we're the ones being impacted by problem gambling.

I think I'd prefer we kept the licences and ran them so tightly that they barely broke even. Then less people lose and we keep the revenue stream (and could potentially loosen the reins should other revenue tighten up).

Better than being reliant waiting for the AFL to say to every club they've got 3 years to get out of it (which could happen).

 

[Bombermania]

I'm not even against pokies as much as that. Yes, it's a grubby industry, lots are. At least in the stockmarket your money represents the capital of the company (that's the whole idea of shares).

But the Essendon Football Club is a grass-roots community organisation. I can understand if companies like Woolies want to exploit people for profit. But a member organisation such as the EFC shouldn't be fleecing other members of society, particularly those in the Essendon area.

If we were going to have pokies, either do it as ethically as possible. Or do the opposite and put them in Collingwood.

I don't object to Woollies owning pokies for as you say they are focused on making a profit with the objective of paying a dividend to shareholders wheres Essendon FC doesn't have the same objective besides the closet they get to paying a dividend is winning premierships

 

[Bombermania]

I wouldn't be trumpeting that we are cutting off such a huge source of revenue straight away either when we are facing record debt levels and legal battles.

We said we would get out of them when it is economically viable to do so, that means building alternate sources of income over the next few years and a slow phase out. It will happen, maybe not fast enough for some people but it will happen.

That is the sensible approach because one of the thing that I have been pleased with has been that we have not needed any special handouts from the AFL unlike a few other clubs who when they have a bit of difficulty seem to go cap in hand to the AFL for a hand out.

 

[CBombers17]

I'm going to be extremely unpopular but I couldn't care if we're attached to them.

Someone's gotta make money off them, may as well be us.

I agree really and I like most people have seen how devastating gambling/pokie addiction can be.

The Club's choice to make money from pokies wouldn't be taken lightly. Clearly that kind of revenue isn't easilly replaced and to forfeit that would potentially see us at a signifigant competitive disadvantage.

The polling booth is the place to get rid of pokies imo - with the Victorian state government making billions of dollars every year from them the issue is bigger than football clubs.

 

[yaco55]

I'll agree with Boncer for once - Fine if the club can find alternative streams in the future - My worry is that in ten years time, people will find something else to be angry about, which could be be one of our sponsor groups, and the cycle will continue again - It's a pity we didn't have this same level of angst when pokies were introduced or when AFL clubs first got pokies - Pokies have been around for sixty years, so I find it hard to believe we as a society, have just noticed the damage pokies can cause for some individuals.

 

[Bombermania]

I'll agree with Boncer for once - Fine if the club can find alternative streams in the future - My worry is that in ten years time, people will find something else to be angry about, which could be be one of our sponsor groups, and the cycle will continue again - It's a pity we didn't have this same level of angst when pokies were introduced or when AFL clubs first got pokies - Pokies have been around for sixty years, so I find it hard to believe we as a society, have just noticed the damage pokies can cause for some individuals.

That's a fair point but surely there would be a number of government agencies, ASX listed and non listed small, medium & large businesses that would welcome having their name attached to an AFL club.

Take Woolies, it owns a number of pokie machines and liquor stores so there would be some that would object to the club having them as a sponsor or if the club entered a deal with Wesfarmers we would see people upset that they are involved in the resources sector so there will always be someone complaining.

My comment about pokes related more to how they operate, if the club wants to own them then its fine for me to moan about it but ultimately revenue needs to come from somewhere so I'm not sitting here writing letters to the club demanding it ends such arrangements, the genie was let out of the bottle when they were introduced and as such they will remain.

 

[bombadeer]

They make $20 million a year from pokies, which are almost as damaging to society as drugs, almost as addictive but more profitable. Just happens to be legal.

The sooner we're out of the grubby industry the better.

For people prone to “impulsivity”, pokies are literally as addictive as cocaine.

There needs to be legislative changes to ban the techniques used to hook players - unfortunately, our politicians are just as hooked on the revenue.

 

[yaco55]

That's a fair point but surely there would be a number of government agencies, ASX listed and non listed small, medium & large businesses that would welcome having their name attached to an AFL club.

Take Woolies, it owns a number of pokie machines and liquor stores so there would be some that would object to the club having them as a sponsor or if the club entered a deal with Wesfarmers we would see people upset that they are involved in the resources sector so there will always be someone complaining.

My comment about pokes related more to how they operate, if the club wants to own them then its fine for me to moan about it but ultimately revenue needs to come from somewhere so I'm not sitting here writing letters to the club demanding it ends such arrangements, the genie was let out of the bottle when they were introduced and as such they will remain.

I am happy if the club can find alternative revenue streams - My post is referencing how we live in a society where pokies are suddenly 'bad', yet they have been around for 70 years ,and caused damage to some individuals from day one, but now people are concerned about pokies - And I worry some other revenue will be deemed 'bad' by these 'stream of consciousness' people in society.

 

[Beerfish]

I am happy if the club can find alternative revenue streams - My post is referencing how we live in a society where pokies are suddenly 'bad', yet they have been around for 70 years ,and caused damage to some individuals from day one, but now people are concerned about pokies - And I worry some other revenue will be deemed 'bad' by these 'stream of consciousness' people in society.

Smoking was around for a long time before they figured out and publicised the harm it causes too.

 

[AcuteWhistle]

I don't know the exact in's & out's of a pokie machine other than they can be adjusted to increase or decrease the rate of return back to the punters/addicts & that usually sits somewhere around 80-90% if what has been published over the years is to be believed (personally I think thats a crock, but whatever).

So what's to stop any venue with pokies that wants to decrease it's financial reliance on them from gradually upping the return rate to say 99% & advertising that fact? It would increase the number of punters through the door, they'd have more to spend on meals, booze & other entertainment at the venue. Granted there would still be a shortfall in revenue to replace but it would be a start. Just a random thought.

 

[AcuteWhistle]

I am happy if the club can find alternative revenue streams - My post is referencing how we live in a society where pokies are suddenly 'bad', yet they have been around for 70 years ,and caused damage to some individuals from day one, but now people are concerned about pokies - And I worry some other revenue will be deemed 'bad' by these 'stream of consciousness' people in society.

Not sure about the 'suddenly' bit - there have been many advocates arguing against the continued expansion of the pokie footprint for the last 20 years or so & of course they've been largely ignored because MONEY. A couple of years ago there were toy candy pokie machines being sold aimed at kids! I play solitaire & word games etc on my phone & am always getting humbugged to install these 'new' games & they all resemble pokie machines in one way or another while pretending to be something else.

It's a scary joke how far the gambling industry has infiltrated every day life.

 

[Beerfish]

Not sure about the 'suddenly' bit - there have been many advocates arguing against the continued expansion of the pokie footprint for the last 20 years or so

Blow Up The Pokies by The Whitlams was suddenly released in 1999.