Richmond 2021 financial result

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AstuteTiger

Premiership Player
Mar 22, 2009
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Foley#41

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Aug 29, 2007
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Eagledale
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Stunts Volleyball - since 1987

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Dec 9, 2006
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Danistan
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Hey KiwiTiger i hope you are well. I had a couple of questions raised on a tiger supporting fb page that i hoped you could explain/answer.
How much of that revenue was from pokies and some people seemed to think that with 100k of members the revenue should be higher? Why is it not the case? (Sorry for being a pain, but i’d rather it be explained properly than guess work and assumption).
 

AstuteTiger

Premiership Player
Mar 22, 2009
4,037
7,128
Melbourne
AFL Club
Richmond
Hey KiwiTiger i hope you are well. I had a couple of questions raised on a tiger supporting fb page that i hoped you could explain/answer.
How much of that revenue was from pokies and some people seemed to think that with 100k of members the revenue should be higher? Why is it not the case? (Sorry for being a pain, but i’d rather it be explained properly than guess work and assumption).

If we are talking just pokies, at a guess 1.5-2 mill from 3,575,326 - We only have the Wantirna club now for pokies.

From the concise report, check out the link above at the start of the thread and you will find all the info.

Gaming and hospitality
2021 (3,575,336)
2020 (4,014,623)
 

Bojangles17

Hall of Famer
May 17, 2004
37,406
51,398
Punt Rd ‘17? ‘19?
AFL Club
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Hey KiwiTiger i hope you are well. I had a couple of questions raised on a tiger supporting fb page that i hoped you could explain/answer.
How much of that revenue was from pokies and some people seemed to think that with 100k of members the revenue should be higher? Why is it not the case? (Sorry for being a pain, but i’d rather it be explained properly than guess work and assumption).
Rev Was in the 90s million when we had decent match receipts
 

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Sterge

Moderator
Jun 3, 2009
41,655
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If we are talking just pokies, at a guess 1.5-2 mill from 3,575,326 - We only have the Wantirna club now for pokies.

From the concise report, check out the link above at the start of the thread and you will find all the info.

Gaming and hospitality
2021 (3,575,336)
2020 (4,014,623)

I'm no accountant, but i'm pretty sure those numbers are the costs of running the gaming and hospitality not the money made from gaming

The revenue from gaming and hospitality is on page 20, as other mentioned the big growth in Health & fitness is good to see.

And we might as well piss off the Wantirna club if it is making a loss and hopefully can if AL continues to grow

1638224058378.png
 
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Phar Ace

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Feb 9, 2017
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Pretty good result given the lack of revenue from match day attendances at the G

Footy is just drain on our resources anyway ;) :D

So we Netted $2,486,626 off $78,376,613 but required $3,766,250 in JobKeeper to do it. That is still a tough year in my book! There may well be some writedowns that affect that too, but I don't think they are popping champagne bottles at PuntRoad just yet.
 
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KiwiTiger

Premiership Player
Feb 28, 2010
4,625
18,600
The 3121 Island
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I'm no accountant, but i'm pretty sure those numbers are the costs of running the gaming and hospitality not the money made from gaming

The revenue from gaming and hospitality is on page 20, as other mentioned the big growth in Health & fitness is good to see.

And we might as well piss off the Wantirna club if it is making a loss and hopefully can if AL continues to grow

View attachment 1289722
It's easy to say just get rid of the Wantirna Club, but it has a very specific "Club" licence, meaning we can't just sell it to any Tom, Doris or Harry. It can be transferred to another Club as a willing buyer. There's not too many clubs in the market.
Hey KiwiTiger i hope you are well. I had a couple of questions raised on a tiger supporting fb page that i hoped you could explain/answer.
How much of that revenue was from pokies and some people seemed to think that with 100k of members the revenue should be higher? Why is it not the case? (Sorry for being a pain, but i’d rather it be explained properly than guess work and assumption).

Membership "yield", or the net revenue per member is often impacted by a club's home ground venue. The MCG is a 100,000 seat stadium. Our member yield is relatively low compared to other clubs because we do not have latent demand for a premium membership like a reserve seat membership. With a sizeable venue, most members are comfortable to buy an 11 home game membership with no reserve seat. Clubs like West Coast and Geelong have a higher member yield due to the limited capacity driving premium membership demand. So the relationship between member numbers and member revenue is not necessarily a constant lineal relationship.

Haere Ra
 

DeLaCon

Team Captain
Nov 15, 2019
399
1,409
AFL Club
Richmond
Kiwi... in another thread people are discussing why RFC havent tried to purchase at least a couple of the terrace houses opposite Punt Road Oval and then developed those internally into office space. It would give the club ownership of some freehold property and alleviate some of the office space issues the club has.
 

KiwiTiger

Premiership Player
Feb 28, 2010
4,625
18,600
The 3121 Island
AFL Club
Richmond
Kiwi... in another thread people are discussing why RFC havent tried to purchase at least a couple of the terrace houses opposite Punt Road Oval and then developed those internally into office space. It would give the club ownership of some freehold property and alleviate some of the office space issues the club has.

I'm sure all options are being considered in the best interests of the members. Investing in nearby property is not a new idea, but you must remember that approximately $30m of cash and investments on our balance sheet is earmarked for the PRO redevelopment. It's committed funding accountable to government that we can't just use to buy the Royal Hotel or some such.

Haere Ra
 

AstuteTiger

Premiership Player
Mar 22, 2009
4,037
7,128
Melbourne
AFL Club
Richmond
Yes. But much of that is grant funding committed to the redevelopment.

Haere Ra

Pretty sure it's not, from what I see it hasn't been accounted for in this financial year. I have gone over the concise report and can't see the state and federal government grants included. Happy to stand corrected.
 

KiwiTiger

Premiership Player
Feb 28, 2010
4,625
18,600
The 3121 Island
AFL Club
Richmond
Pretty sure it's not, from what I see it hasn't been accounted for in this financial year. I have gone over the concise report and can't see the state and federal government grants included. Happy to stand corrected.

Well. The Federal Govt $15m was committed in 2019.

Richmond FC secures Federal Government funds for Swinburne Centre redevelopment - Australasian Leisure Management (ausleisure.com.au)

Pretty sure it's a non-reciprocal grant and would have been recognised as revenue when the commitment was announced.

Haere Ra
 

Sir_Loin

🏆🏆🏆
Oct 20, 2015
29,094
72,117
AFL Club
Richmond
It's easy to say just get rid of the Wantirna Club, but it has a very specific "Club" licence, meaning we can't just sell it to any Tom, Doris or Harry. It can be transferred to another Club as a willing buyer. There's not too many clubs in the market.


Membership "yield", or the net revenue per member is often impacted by a club's home ground venue. The MCG is a 100,000 seat stadium. Our member yield is relatively low compared to other clubs because we do not have latent demand for a premium membership like a reserve seat membership. With a sizeable venue, most members are comfortable to buy an 11 home game membership with no reserve seat. Clubs like West Coast and Geelong have a higher member yield due to the limited capacity driving premium membership demand. So the relationship between member numbers and member revenue is not necessarily a constant lineal relationship.

Haere Ra

Do you know if the Wantirna Club licence has to be sold to be an AFL club? Or can it be any sporting club?
 

Jack5

All Australian
Sep 15, 2017
841
3,133
AFL Club
Richmond
Good result considering. Wondering how much PRO development is going to squeeze our liquidity position. Jobkeeper still a significant number, would have incurred a loss c$1m without it. Results are to 31/10 so shouldn't be much carryover of COVID restriction impacts into FY22 - fingers crossed no more lockdowns. Will be interesting to see how our membership number goes in 22 post missing finals for the first time in a while. Would be good to be out of gaming from a social perspective (my personal view) but unclear on what it's contributing without knowing how much COVID cost in lost revenues and how much jobkeeper we got out of it. At face value looks like a small net drain in FY21? Have requested the full financial report.
 

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