The AFL, Clubs and Pokies thread

[Teen Wolf]

Definitely time this blight on modern society was laid to waste. Mindless repetitive crap. Been providing desperate people with false hope for too long. Preying on those with limited education, in general. Totally family unfriendly, and we know it's innocent children who suffer the most.

Yep, this evil institution has got to GO! Worst of all, they rake in all that money without paying taxes, then try to tell us when we can play football or who can marry who... Wait, sorry, I'm on the wrong damn board again.

But seriously, ya'll are barking up the wrong tree with the junk food comparison. Whenever people indulge on McDonald's, they at least always have something to show for it sooner or later.

 

[RussellEbertHandball]

Just putting this in here for reference and so its easy to find in the future. I put it up in the 2019 Financial results thread on page 5 and it was discussed there.

These figures are losses made by punters and reported by the machines to the Victorian gaming authority. So its recorded losses, then gambling taxes would be paid on those recorded losses which in most jurisdictions is in the 40%-50% range.

Clubs report Venue revenue and that could be either
1. Losses made by punters less gaming taxes paid plus food and beverage revenue
and then have a one line Venues expenses for all expenses
or
2. Losses made by punters plus food and beverage revenue
and then have a one line Venues expenses for all expenses and gaming taxes are in this figure

AFL clubs fill boots with pokies cash, as losses hit $2.7bn

AFL clubs reaped millions of dollars from poker machines last year, as pokies losses in Victorian pubs and clubs swelled to $2.7 billion - the second highest amount on record.

www.smh.com.au

AFL clubs reaped millions of dollars from poker machines last year, as pokies losses in Victorian pubs and clubs swelled to $2.7 billion - the second highest amount on record ......... The $2.69 billion lost in the 2018/19 financial year is the second highest on record, after 2009.
.....
The data shows more than $77 million was lost in machines owned by Victorian AFL clubs during the year. Hawthorn had the greatest share making just under $24.7 million from its 165 machines at the West Waters Hotel in Caroline Springs and Vegas At Waverley Gardens, in Mulgrave.
.....
Collingwood got out this year selling its pokies venues - The Club in Melton and the Coach and Horses in Maroondah - late in calendar 2018. Those two venues took $12.9 million in losses across the full 2019 financial year.

Geelong, Melbourne and the Western Bulldogs have all pledged to get out of pokies, while North Melbourne has been pokies-free for a decade.

 

[Aussie in exile]

I consider Pokies and all forms of gambling as an evil.
People who go into these plush casinos and think they can win money really are as dumb as dog ####.
There is only one winner and it isn't Joe public

 

[Furn2]

I wonder how much less has been lost at the pokies the clubs have sold ?

i'm guessing zero.

 

[Kwality]

I wonder how much less has been lost at the pokies the clubs have sold ?

i'm guessing zero.

For the footy clubs turning their back on pokies the question is what can replace the certainty of the profitabilty of pokies .
Dont fall for turnover $s.

What club has a steady income from 'other' sources, profit not turnover.

 

[Ned_Flanders]

For the footy clubs turning their back on pokies the question is what can replace the certainty of the profitabilty of pokies .
Dont fall for turnover $s.

What club has a steady income from 'other' sources, profit not turnover.

dont brisbane and the dees have significant investment portfolios (saturday brain so foggy as hell, im trying to remember who it was i read about ages ago)? a fair number are going down the eduction/rto path. a few have dabbled in property development over the years (to mixed outcomes)

 

[Gralin]

dont brisbane and the dees have significant investment portfolios (saturday brain so foggy as hell, im trying to remember who it was i read about ages ago)? a fair number are going down the eduction/rto path. a few have dabbled in property development over the years (to mixed outcomes)

Dees got out and attributed their losses in part to that revenue stream going away

 

[Ned_Flanders]

Dees got out and attributed their losses in part to that revenue stream going away

as others have said, it appears there is a bit of mayo on that

of course they will have some club switching investment types, but the whole loss is in excess of what they walked away from

 

[Kwality]

dont brisbane and the dees have significant investment portfolios (saturday brain so foggy as hell, im trying to remember who it was i read about ages ago)? a fair number are going down the eduction/rto path. a few have dabbled in property development over the years (to mixed outcomes)

I dont know the answer thats why I ask - been interested since the Eagles took a hair cut in the GFC.

 

[Gralin]

as others have said, it appears there is a bit of mayo on that

of course they will have some club switching investment types, but the whole loss is in excess of what they walked away from

I mean they had a pretty s**t year which would have impacted revenue and they did pay down debt

 

[Ned_Flanders]

I dont know the answer thats why I ask - been interested since the Eagles took a hair cut in the GFC.

I remember one club took a bit of a hit on it's portfolio in the gfc, but not sure it was wce

 

[Kwality]

as others have said, it appears there is a bit of mayo on that

of course they will have some club switching investment types, but the whole loss is in excess of what they walked away from

One day someone will analyse that Bentleigh Club in/out.

 

[RussellEbertHandball]

dont brisbane and the dees have significant investment portfolios (saturday brain so foggy as hell, im trying to remember who it was i read about ages ago)? a fair number are going down the eduction/rto path. a few have dabbled in property development over the years (to mixed outcomes)

Brisbane used to. They built it up from their boom years 2000-06, but that was sold off post GFC, over several years when they got into difficultly. Think it was fully liquidated by 2010 or 2011.

Melbourne were fair enough to say that selling the pokies meant they were $900k down on that net revenue stream compared to last year, but they should have said they only made $200k from the $7.5m (ie 2.6% return) they invested of the $10m proceeds they received from selling the pokies ( and paid off $1.5m in debt). Looks like the investment are or for most of the year were in interest bearing deposits. They should over time change that to equity investments and that will help make up that gap from having no pokies if its wise equity investments.

 

[Ned_Flanders]

Brisbane used to. They built it up from their boom years 2000-06, but that was sold off post GFC, over several years when they got into difficultly. Think it was fully liquidated by 2010 or 2011.

Melbourne were fair enough to say that selling the pokies meant they were $900k down on that net revenue stream compared to last year, but they should have said they only made $200k from the $7.5m (ie 2.6% return) they invested of the $10m proceeds they received from selling the pokies ( and paid off $1.5m in debt). Looks like the investment are or for most of the year were in interest bearing deposits. They should over time change that to equity investments and that will help make up that gap from having no pokies if its wise equity investments.

Thanks, Brissy was the one I was trying to remember who took a hit in the gfc

 

[RussellEbertHandball]

Thanks, Brissy was the one I was trying to remember who took a hit in the gfc

Hawthorn took a $1m+ hit on their investments in 2008. roughly 60% of that was on shares they sold and 40% on the market value of shares they held onto. Haven't bothered to look at post 2008 movements.