Heading in the right direction

[Darkyprotector]

Great News.

The club might take a brief financial hit from it, but I 100% support the decision.

Glad to see a number of clubs also getting out of pokies (with North already having led the way), but very disappointing that the "family club" with a President whos very publicly involved in Beyond Blue, are not following suit.

What hawthorn are being hypocritical

Find that hard to believe

 

[CFC2010]

 

[Baltimore Jack]

I'm not saying that. I just see that Australia seems to treat gambling as something that has been created by Satan himself, but alcohol gets by unscathed. Just look at the stats and tell me that alcohol is not a problem...

I have no idea why you are complaining

 

[whiskeytown]

I don't play the pokies, but pokies get a bum wrap. Vast vast majority of people frequent them within their spending limit. Just like the vast majority of drinkers...

People take a moral viewpoint on our ownership of pokies but have no problem selling them to the Melbourne Racing Club....passing the buck, but to a more glamorous part of the gambling industry with its own share of problem gamblers, and with its ethical issues around the treatment of animals.

Hope the Pies now take the moral high ground on selling alcohol and fatty, salty foods at Holden Centre and Vic Park. Look forward to the clothing range at our shop being ethically made... no plastic bags or straws used in our retail and food sales, etc, etc. And we better question the paftnership with the government owned Emirates Airline as the U.A.E have failings in their treatment of women, LGBT, etc.

Lots and lots of work ahead for the Collingwood FC moralists then. Otherwise selling the pokies just sounds like an irresponsibly expensive exercise in corporate PR?

 

[Black_White]

Collingwood and MRC finalise gaming and venue deal
July 17, 2018 12:30 PM

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Collingwood has finalised terms for the sale of its gaming operations as part of a wider sell down of its hospitality interests.


Collingwood has finalised terms for the sale of its gaming operations as part of a wider sell down of its hospitality interests.

The Melbourne Racing Club has agreed to purchase from Collingwood the licences for two venues, The Coach and Horses in Ringwood and The Club in Caroline Springs, and with them 156 gaming machines under the terms of binding, conditional transaction documents.

The sales – and Collingwood’s complete and immediate exit from the gaming industry - are part of a strategic repositioning of the Collingwood business. Settlement will occur after all required regulatory approvals have been obtained. It is anticipated settlement will occur in October.

An extensive review of Collingwood’s operations was undertaken in 2017.

“This is a prudent commercial decision, one that will strengthen the Collingwood balance sheet significantly,” said Collingwood President Eddie McGuire.

“The forensic review of the entire Collingwood operation last year, and the ‘Forever’ blueprint which came out of it, gave us greater clarity and a renewed sense of purpose but also identified numerous opportunities.

“The decision of the board to sell our gaming operation and some of our hospitality interests will allow us to intensify the focus on our core responsibilities – Collingwood fans, elite sporting performance and community – but also enable us to pursue new and different possibilities for growth.

“Collingwood is in a strong financial position, with net assets of $32 million, and with the continuing support of its members will be in an even stronger position with this sale. It is the right time for Collingwood to be making this move.”

Collingwood will continue to operate its Glasshouse function and events business at the Holden Centre. There is no gaming operation at the Glasshouse.

Please note that as of 1 July Collingwood ceased operation of the Magpie Millions lottery

I remember a few years ago when I bought up this issue, and took considerable heat about it.
So glad the club has taken the decision to divorce itself from this ugly industry.
Now if only we could do the same with convicted performance enhancing drug taking.

 

[jimmy35]

I don't play the pokies, but pokies get a bum wrap. Vast vast majority of people frequent them within their spending limit. Just like the vast majority of drinkers...

People take a moral viewpoint on our ownership of pokies but have no problem selling them to the Melbourne Racing Club....passing the buck, but to a more glamorous part of the gambling industry with its own share of problem gamblers, and with its ethical issues around the treatment of animals.

Hope the Pies now take the moral high ground on selling alcohol and fatty, salty foods at Holden Centre and Vic Park. Look forward to the clothing range at our shop being ethically made... no plastic bags or straws used in our retail and food sales, etc, etc. And we better question the paftnership with the government owned Emirates Airline as the U.A.E have failings in their treatment of women, LGBT, etc.

Lots and lots of work ahead for the Collingwood FC moralists then. Otherwise selling the pokies just sounds like an irresponsibly expensive exercise in corporate PR?

No, Collingwood just wish not to profit from them. Pokies will still be about and people can get their fix but the club is moving on from that revenue stream. Good on them.
Prostitution is more widely accepted nowadays as well but I wouldn’t like the club to open their own brothels though.

 

[Black_White]

Great News.

The club might take a brief financial hit from it, but I 100% support the decision.

Glad to see a number of clubs also getting out of pokies (with North already having led the way), but very disappointing that the "family club" with a President whos very publicly involved in Beyond Blue, are not following suit.

Hawthorn are so entwined with pokies that they are faced with continuing, or bankruptcy.
Particularly with their onfield performances probably resulting in bandwagoners deserting membership.

 

[Timmy from Thomastown]

I like how everyone seems to have a problem with the slot machines, yet are OK with alcohol sponsoring, even though alcohol has a far worse effect on the individual and society.

Big stretch there.

Most people dont have a problem with gambling per se. Its poker machines specifially that they have a problem with and the demographic that tends to mindlessy feed their coins into them.

If people want to destroy their lives with gambling or alcohol or any other kind of addiction theres nothing stopping them. But stepping away from the most insidious form of gambling is a good thing. Let somebody else suck money from those that cant afford to lose it.

 

[CFC2010]

I remember a few years ago when I bought up this issue, and took considerable heat about it.
So glad the club has taken the decision to divorce itself from this ugly industry.
Now if only we could do the same with convicted performance enhancing drug taking.

Good move by the Club........the CEO explained it on SEN tonight.

As for the PED taker don't want to get into this again because we agree on this topic.......but he has done his time and so his three year contract extension was justified IMO.

 

[swoop42]

While people will receive a feel good moment from this decision the reality is we are sacrificing a lot of money year on year and I can't see how we'll fill such a large void in revenue.

Professional football clubs exist to win premierships first and foremost and I hope this doesn't adversely affect our chances against other clubs like a Hawthorn who are ruthless in pursuit of winning flags and one so far not prepared to follow suit.




I

 

[The Royal Sampler]

I like how everyone seems to have a problem with the slot machines, yet are OK with alcohol sponsoring, even though alcohol has a far worse effect on the individual and society.

Pretty sure pubs sell alcohol as well. Two birds, one stone.

Glad to be out of the pokies business though; I’m not against gambling, but pokies are targeted at those who aren’t overly blessed with brain cells or resources...

 

[TradeDraft]

Hope this does not mean there Membership Prices don't go up

 

[Kreme Pie]

Good move by the club overall. Happy to see the club move away from mindless gambling as a form of revenue.
No club has a squeaky clean record when it comes to revenue raising ventures.
Its also challenging finding club sponsors who have a squeaky clean image.
The reality is, you would be hard to find a business that is free from having various flaws, social issues, scandals, lawsuits and conflicts at some point in their existence.

As for alcohol sponsorship in sport, I think it's probably just a matter of time before it's wiped out, or heavily restricted. Remember when the cigarette companies had strong links with the VFL? Phillip Morris was the major sponsor of the Saints. They probably gave a carton of ciggies to the B.O.G every week.

 

[Old Spice]

I don't play the pokies, but pokies get a bum wrap. Vast vast majority of people frequent them within their spending limit. Just like the vast majority of drinkers...

People take a moral viewpoint on our ownership of pokies but have no problem selling them to the Melbourne Racing Club....passing the buck, but to a more glamorous part of the gambling industry with its own share of problem gamblers, and with its ethical issues around the treatment of animals.

Hope the Pies now take the moral high ground on selling alcohol and fatty, salty foods at Holden Centre and Vic Park. Look forward to the clothing range at our shop being ethically made... no plastic bags or straws used in our retail and food sales, etc, etc. And we better question the paftnership with the government owned Emirates Airline as the U.A.E have failings in their treatment of women, LGBT, etc.

Lots and lots of work ahead for the Collingwood FC moralists then. Otherwise selling the pokies just sounds like an irresponsibly expensive exercise in corporate PR?

I like where this is heading. So since there are various forms of vice in this imperfect world, perhaps we should be in charge of as many revenue streams as possible. I like it. I think we should go all the way; start selling ivory tusks, T**ty mags, shark fins, bongs, the Herald Sun and perhaps some gun-running.

What would be the new Latin motto?

 

[esc0bar]

I remember a few years ago when I bought up this issue, and took considerable heat about it.
So glad the club has taken the decision to divorce itself from this ugly industry.
Now if only we could do the same with convicted performance enhancing drug taking.

Another 3 years mate

 

[whiskeytown]

I like where this is heading. So since there are various forms of vice in this imperfect world, perhaps we should be in charge of as many revenue streams as possible. I like it. I think we should go all the way; start selling ivory tusks, T**ty mags, shark fins, bongs, the Herald Sun and perhaps some gun-running.

What would be the new Latin motto?

Start selling? We are about what we are/were already selling...pokies... a LEGAL form of entertainment.

This is not a discussion about whether we should invest in buying pokies machines... that decision was made a long time ago. This decision is about stripping $12.2 million in revenue a year from the club because a minority of people are addicted to gambling, a proportion of which are addicted to pokies gambling, an even smaller proportion of which who gamble on the 156 machines Collingwood own.

Yet we still continue to own pubs.

 

[Old Spice]

Start selling? We are about what we are/were already selling...pokies... a LEGAL form of entertainment.

This is not a discussion about whether we should invest in buying pokies machines... that decision was made a long time ago. This decision is about stripping $12.2 million in revenue a year from the club because a minority of people are addicted to gambling, a proportion of which are addicted to pokies gambling, an even smaller proportion of which who gamble on the 156 machines Collingwood own.

Yet we still continue to own pubs.

Pornos are a legal form of entertainment too, it might be quite lucrative to get in there. Maybe some rub and tug joints too. Whatever makes us money and is legal is great.

Floreat Shakedown

 

[whiskeytown]

Pornos are a legal form of entertainment too, it might be quite lucrative to get in there. Maybe some rug and tug joints too. Whatever makes us money and is legal is great.

Floreat Shakedown

Kinda missing the point aren't you? Not talking about taking on pokies, but ending our association with them at a cost of 12.2 mill a year to the bottom line.

And generally, yes, whatever legally makes a profit for a business is good. Thinking this way is what has got the pies out of the financial mire it was in in the 80s & 90s. This is how we ended up in the financial position we're in and with the Holden Centre.

We've tried pubs, clubs, soccer teams, netball teams... wouldn't recommend the pr0n or brothels... but like I said, this isn't about a new business venture, but an existing one.

If a new business investment of a scale to the clubs coffers then E-Sports, partnerships in affordable housing apartments and housing with the State Government... these might be good ideas.

 

[Saintly Viewed]

Carlton do it just by getting their members to renew!

Very underated post

 

[Saintly Viewed]

No, Collingwood just wish not to profit from them. Pokies will still be about and people can get their fix but the club is moving on from that revenue stream. Good on them.
Prostitution is more widely accepted nowadays as well but I wouldn’t like the club to open their own brothels though.

Not sure we could cope if we did brothels as which players would promote it?


6?
22?
25?
29?
36!?
46!

 

[sideswipe]

Kinda missing the point aren't you? Not talking about taking on pokies, but ending our association with them at a cost of 12.2 mill a year to the bottom line.

And generally, yes, whatever legally makes a profit for a business is good. Thinking this way is what has got the pies out of the financial mire it was in in the 80s & 90s. This is how we ended up in the financial position we're in and with the Holden Centre.

We've tried pubs, clubs, soccer teams, netball teams... wouldn't recommend the pr0n or brothels... but like I said, this isn't about a new business venture, but an existing one.

If a new business investment of a scale to the clubs coffers then E-Sports, partnerships in affordable housing apartments and housing with the State Government... these might be good ideas.

I think you may be missing the point in that presumably we would have sold the asset as a sum of their discounted future cash flows (from gaming, so yes we have exited gambling but we have made some cash on that exit). Question will be whether the club can make as much money from whatever it puts those funds into instead of pokies. Am guessing that will be well short of the gaming revenue but that is the price the club would have decided to pay, not the dollars previously being earned from gaming, the 12m you mention.


On iPhone using BigFooty.com mobile app

 

[NoobPie]

Kinda missing the point aren't you? Not talking about taking on pokies, but ending our association with them at a cost of 12.2 mill a year to the bottom line.

And generally, yes, whatever legally makes a profit for a business is good. Thinking this way is what has got the pies out of the financial mire it was in in the 80s & 90s. This is how we ended up in the financial position we're in and with the Holden Centre.

We've tried pubs, clubs, soccer teams, netball teams... wouldn't recommend the pr0n or brothels... but like I said, this isn't about a new business venture, but an existing one.

If a new business investment of a scale to the clubs coffers then E-Sports, partnerships in affordable housing apartments and housing with the State Government... these might be good ideas.

Sorry but where are you getting that it’s a cost of “12.2 million a year to the bottom line” of the club from?

We might be losing that much in revenues but we are also off loading significant costs. They say the profit margin from these things are around
20% which would imply are bottom line impact of $2.5m. Given we are apparently going to boost our balance sheet from the sale giving us capital to reinvest in other ventures the ongoing bottom line impact is likely to be far less again.

 

[Quicky]

I like where this is heading. So since there are various forms of vice in this imperfect world, perhaps we should be in charge of as many revenue streams as possible. I like it. I think we should go all the way; start selling ivory tusks, T**ty mags, shark fins, bongs, the Herald Sun and perhaps some gun-running.

What would be the new Latin motto?

I hear there's good money to be had in the Dubai labour market if only we can build some dormitories to house the workers and buy a safe to keep their passports nice and secure.

 

[jimmy35]

Not sure we could cope if we did brothels as which players would promote it?


6?
22?
25?
29?
36!?
46!

Brothel bingo, I like it!

Legs Eleven would be very popular.

 

[whiskeytown]

Sorry but where are you getting that it’s a cost of “12.2 million a year to the bottom line” of the club from?

We might be losing that much in revenues but we are also off loading significant costs. They say the profit margin from these things are around
20% which would imply are bottom line impact of $2.5m. Given we are apparently going to boost our balance sheet from the sale giving us capital to reinvest in other ventures the ongoing bottom line impact is likely to be far less again.

Of 12.2 mill is revenue (figure comes from the Age), not profit. I'm interested in your 20% profit figure. And I'd like to see what else the club can invest in that will make a 20% return p.a and as an asset be able to sell for 30mill* in the future should they need to.

There's a few happy go lucky types on here who forget how financial mismanagement can ruin a club and seem to think that we are impervious to it in the future.