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GRV Annual Report


Tor Janes
Australia
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Posts 10025
Dogs 16 / Races 0

08 Oct 2015 03:11


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There is a lot of detail in this report, really interesting reading.

From the GRV site....

Greyhound Racing Victorias (GRV) 2014/15 Annual Report, tabled before the Victorian parliament today, reveals the organisation and the sport is in a strong position to rebuild.

Highlights from the annual report include:

$5.1 million profit
13 per cent growth in wagering revenue to $83.8 million
Victorian TAB Joint Venture market share grew to 21.20%
$2 million increase to integrity and welfare expenses
Infrastructure investment of $13.9 million
36% increase in the number of swabs taken for analysis
Record 847 greyhound adoptions processed by the Greyhound Adoption Program
GRV CEO, Alan Clayton, indicated the organisation is in a very strong financial position and is focusing on setting the frameworks to support the longevity of the sport.

The operating environment has been a challenging one this year and our continued focus will be on strengthening our welfare and integrity regulatory capabilities, Mr Clayton said.

It will indeed be an intense focus as we attend to the recommendations arising from the Racing Integrity Commissioner and Chief Veterinary Officers reports that were handed down earlier in 2015.

It is pleasing that fans of greyhound racing have continued to support the industry and the great people that bring their greyhounds to the races each week. It highlights the fact that the industry is stronger than a few rogue individuals that seek to play outside the rules and the law, he added.

Full Report

EXTERNAL LINK



Jack Gatty
Australia
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Posts 2055
Dogs 1 / Races 0

08 Oct 2015 03:39


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Very positive Tor - the other eastern States would benefit by following Victorias lead. This could be and is a fantastic sport and hopefully will expand and be a canine lovers sport for families and friends with new participants to join and enjoy, if only the stigma and recent bad publicity can be overcome.



Tor Janes
Australia
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Posts 10025
Dogs 16 / Races 0

08 Oct 2015 03:45


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So much negativity around Jack, good to see some good news now and then...13% increase in wagering that's great in itself.



Jack Gatty
Australia
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Posts 2055
Dogs 1 / Races 0

08 Oct 2015 04:09


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Tor Janes wrote:

So much negativity around Jack, good to see some good news now and then...13% increase in wagering that's great in itself.

Agree it's huge Tor. Really fantastic and news for our sport.


Rod Hampton
Australia

Posts 1627
Dogs 2993 / Races 11820

08 Oct 2015 08:27


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Tor, how much of the net profit, before depreciation deduction ?



Tor Janes
Australia
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Posts 10025
Dogs 16 / Races 0

08 Oct 2015 22:09


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Rod Depreciation explained further on page 24 in notes to financial statements however $199,000 was the depreciation expense.

Buildings 131K
Track and GAP equipment 31K
Office and Furniture 5K
Computer and office equipment 32K

There was also some amortisation of intangible assets for 535K, notes here

7 (b) Intangible Assets
GRV engaged SMS Consulting to write and deploy a new racing management system for the greyhound racing industry. This system, known as FastTrack, was released on May 1, 2013 and is amortised over its estimated useful life of 10 years. At 30 June, 2015, the carrying amount of FastTrack net of amortisation was
$4.203 Mil (2014: $4.739 Mil)


Hayden Gilders
Australia
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Posts 993
Dogs 29 / Races 0

09 Oct 2015 04:20


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The challenging operating climate shows changes from 2014 to 2015 as follows

Gambling Turnover Up 13% on last year

Income From Fines Up 46% on last year

Welfare Employee Expenses Up 50% on last year

GAP & Employees Expenses Up 29.6% on last year

Cost of each dog rehomed $1360

Admin employee expenses Up 30% on last year

Fringe Benefit Tax Up 42% on last year

Net Results From Operations Down Down 45.6% on last year

Stake Money Up 2%

Attendances Down

Metro -8.9%

Ballarat -10.9%

Cranbourne -14%

Geelong -7.7%

Number Of Meetings (for these tracks ) Up 5%


posts 7