Phumelela watch out

No tote at chester today they have decided to go it alone,good on em!!!!!!

The dog tracks all had their own tote and seemed to do alright years ago...


phumelela watch out

The Ambulance won't start at Chester. They pushing it now hence the delay.

agra Wrote:

---

> The Ambulance won't start at Chester. They pushing
> it now hence the delay.


The ambulance or the Flamingo bus <

hibernia Wrote:

---

> No tote at chester today they have decided to go
> it alone,good on em!!!!!!
>
> The dog tracks all had their own tote and seemed
> to do alright years ago...
>
>
> phumelela watch out


hibs think in reverse for a second

horse racing happens because of P...its loss making...they would generate more profits if they were not involved in sa racing...they propping it up

FC Wrote:

---

> hibernia Wrote:
>

---

>

---

> > No tote at chester today they have decided to
> go
> > it alone,good on em!!!!!!
> >
> > The dog tracks all had their own tote and
> seemed
> > to do alright years ago...
> >
> >
> > phumelela watch out
>
>
> hibs think in reverse for a second
>
> horse racing happens because of P...its loss
> making...they would generate more profits if they
> were not involved in sa racing...they propping it
> up

Think you have it wrong FC. Without local racing there would be nothing to sell overseas. You cannot just take SA results in isolation, as Phumelela have tried to do to ellicit sympathy for their view that bookies should be paying more.

Gajima Wrote:
> Think you have it wrong FC. Without local racing
> there would be nothing to sell overseas. You
> cannot just take SA results in isolation, as
> Phumelela have tried to do to ellicit sympathy for
> their view that bookies should be paying more.


sa horse racing is a loss making part of P's business...if they didnt have the other gaming activities to generate profits and prop up local racing the company would collapse...which part of this is difficult to understand...fortunately for all with a vested interest in local racing P's strategy is to stay in sa racing...even though it does not make business sense and is not profitable

unfortunately all the signs point to sa racing being in serious trouble...for me the most alarming statistic is that only 5% of the gambling rand is directed to horse racing...and even the 5% is ever reducing

Well why don't P then push off and hand racing over to someone else FC?

I couldn't have said it better myself ,Oscar

oscar Wrote:

---

> Well why don't P then push off and hand racing
> over to someone else FC?

i only know what i have read of the reports that they issued

if i were a shareholder and had no vested interest in sa racing thats what i would be hoping for...fortunately this share is not available to purchase and is held by a selected group...hence them propping the loss making operation...if the share was held the general public there would have been pressure to "push off"

FC please believe me..without controlling local racing there would be no P

Phumelela conveniently includes the money they make from selling the coverage of local racing to overseas customers in their International segment when reporting. No local racing then nothing to sell. If you put the 2 together you get a different picture. Phumelela want you to believe they are doing you a favour by continuing to "subsidise" local racing and to advance their credentials. Their statement about loss making is disingenious to say the least.

Here is the latest results released. Note what they say under International Operations hence the recent reference to improved prospects due to a weaker exchange rate.

www.irphumelela.com/financials/PHUMELELA_int_jan12.pdf

FC,You virtually can't be a shareholder........the reason these shares don't trade is because if you can monopolise the shares,you can monopolise the management,and therefore the dividend strategy, and the greatest growth of wealth is the compounding value of dividends(watch the new gross dividends cater for the new tax)
The greatest myth is that the poor state of local racing is due to inevitable circumstances.....it is due to piss-poor management.........there are countries where racing is thriving..................spot the clue!