$217,727 Profit for year ending October 31st 2020

[THE_GUN]

OK apparently the Richmond football club put all its cash reserves into after pay shares when covid hit and the competition was called off

they bought the shares at $19,56 nd these shares are $96 now

We will be buying the AFL next year and calling it the Richmond Australian Football League - RAFL

 

[VB_longneck]

big money

 

[VB_longneck]

OK apparently the Richmond football club put all its cash reserves into after pay shares when covid hit and the competition was called off

they bought the shares at $19,56 nd these shares are $96 now

We will be buying the AFL next year and calling it the Richmond Australian Football League - RAFL

what is after pay

 

[THE_GUN]

what is after pay

Its like a Lay Buy that rips you off

 

[JAKLAUGHING]

what is after pay

A rort...

 

[Bojangles17]

OK apparently the Richmond football club put all its cash reserves into after pay shares when covid hit and the competition was called off

they bought the shares at $19,56 nd these shares are $96 now

We will be buying the AFL next year and calling it the Richmond Australian Football League - RAFL

Looking at investments + cash vs last year , would appear we’ve timed our run beautifully

 

[Nostradumbass]

Its like a Lay Buy that rips you off

How does it rip you off?

 

[Vikingnz]

I know there's strong opinions on this from both sides, but has the club made any noises about divesting the Pokies business? I still feel like it really runs counter to our community focus.

 

[Bojangles17]

I know there's strong opinions on this from both sides, but has the club made any noises about divesting the Pokies business? I still feel like it really runs counter to our community focus.

I suspect that may not be too far away

 

[Not Important]

top effort all things considered. credit where credit is due the afl turned a possible disaster into something manageable.

 

[Ned_Flanders]

I know there's strong opinions on this from both sides, but has the club made any noises about divesting the Pokies business? I still feel like it really runs counter to our community focus.

club advised a couple of years ago it wants out of the pokies business, but we need to do it in a way which doesnt harm club revenues or debt

No idea what the post covid appetite for these centres will be

 

[Tiger2709]

club advised a couple of years ago it wants out of the pokies business, but we need to do it in a way which doesnt harm club revenues or debt

No idea what the post covid appetite for these centres will be

There is still money to be made on the sale of licenses and machines, Hope were out of them asap.

 

[Ned_Flanders]

There is still money to be made on the sale of licenses and machines, Hope were out of them asap.

comes down to maximizing the price at sale

MRC has just done a major acquisition run, and Woolies is getting out (not sure how fan down that process they are yet)

remember most buyers will need loans to fund the acquisition, and banks are pretty conservative on leading to covid vulnerable industries still

 

[KiwiTiger]

club advised a couple of years ago it wants out of the pokies business, but we need to do it in a way which doesnt harm club revenues or debt

No idea what the post covid appetite for these centres will be

Indeed. Absolutely positive that any decisions made will be in the best interests of the Club and members.

We must also realise that there has been a long drawn out legal case with the Wantirna Club landlord re land tax. Can read a summary here.

Richmond Football Club Ltd v Verraty Pty Ltd [2019] VSC 597 - Carroll & O'Dea Lawyers

Victorian Retail Leases and Land Tax In our last newsletter, we described a case between the Richmond Football Club and its landlord, before the Victorian

www.codea.com.au

I believe all appeals by the landlord have been exhausted as of recent times, which is good news for the Club re any future strategies.

Haere Ra

 

[VB_longneck]

doogs 3 milion seems legit

 

[DeLaCon]

Now isnt the time to be exiting the pokies. Clubs have taken big hits financially with morr to come in 2021. Im a supporter of expanding our gaming footprint. Some of the RSL clubs are in trouble maybe we should look at taking over 1 or 2 of them and converting them into social clubs. The gaming revenues will help our club enormously in the future.

 

[richo's dodgy hammy]

doogs 3 milion seems legit

Some very creative accounting going on by the looks of it.

 

[VB_longneck]

Some very creative accounting going on by the looks of it.

rfc equalisation donations

 

[The Goon]

Now isnt the time to be exiting the pokies. Clubs have taken big hits financially with morr to come in 2021. Im a supporter of expanding our gaming footprint. Some of the RSL clubs are in trouble maybe we should look at taking over 1 or 2 of them and converting them into social clubs. The gaming revenues will help our club enormously in the future.

Read the tea leaves mate. If the AFL doesn't ban this kind of investment outright we'll be pressured into it regardless. At best it's a short term gain with big long-term downsides. Better to focus on long-term sustainable investments that align with our brand values.

 

[DeLaCon]

Tea leaves or not jobkeeper saved AFL clubs this year we got $11.4 million. With Jobkeeper substantially reduced allclubs will be under the pump. Our gaming revenues will limit the damage. Also the AFL cant ban clubs from gaming. There is millions of dollars at stake. Gaming is legal and 95% of the population do it fun without problems. Why should we deny them access because of a small minority of problem gamblers.

 

[Bojangles17]

comes down to maximizing the price at sale

MRC has just done a major acquisition run, and Woolies is getting out (not sure how fan down that process they are yet)

remember most buyers will need loans to fund the acquisition, and banks are pretty conservative on leading to covid vulnerable industries still

Would be holiday money for MRC to spend a few million here and there on pokie venues

 

[Bojangles17]

Tea leaves or not jobkeeper saved AFL clubs this year we got $11.4 million. With Jobkeeper substantially reduced allclubs will be under the pump. Our gaming revenues will limit the damage. Also the AFL cant ban clubs from gaming. There is millions of dollars at stake. Gaming is legal and 95% of the population do it fun without problems. Why should we deny them access because of a small minority of problem gamblers.

You do realise that in the absence of job keeper those staff would have been sacked instead , it saved jobs , not the balance sheet

 

[Bojangles17]

Now isnt the time to be exiting the pokies. Clubs have taken big hits financially with morr to come in 2021. Im a supporter of expanding our gaming footprint. Some of the RSL clubs are in trouble maybe we should look at taking over 1 or 2 of them and converting them into social clubs. The gaming revenues will help our club enormously in the future.

I personally don’t have an issue with gaming venues as gambling is no more or less a vice than alcohol however most do have a gripe about it and I expect the club is more likely to sway to popular opinion and sell when the time is right

 

[Vikingnz]

Tea leaves or not jobkeeper saved AFL clubs this year we got $11.4 million. With Jobkeeper substantially reduced allclubs will be under the pump. Our gaming revenues will limit the damage. Also the AFL cant ban clubs from gaming. There is millions of dollars at stake. Gaming is legal and 95% of the population do it fun without problems. Why should we deny them access because of a small minority of problem gamblers.

Agree people should be free to do what they want, doesn't mean the club should be invested in it. The reality is that the only reason we have them is because we already did - there's no way we would be starting out in them in the current environment. For that reason, in my opinion we should be looking to offload them.

 

[DeLaCon]

People talk about leaving the pokies but they never say how theyre going to fill the massive revenue and profit gap that leaving the pokies industry will cause for Richmond.

As long as Hawthorn, Essendon, Carlton and others are in it we have to stay in as well as to not give them any financial advantage over us.