Being a racehorse breeder I find myself totally reliant on racing in South Africa being a success, and in so saying, I read all things racing and participate where I can.
Lorraine de Klerk writes in the Sporting Post Mailbag that she considers herself an avid racegoer and active member of Gold Circle – one of only 910 members.
Having read a comment recently in the Sporting Post –
“giving the same people who blew R250 m another R200 m is madness”
I find it impossible not to comment!
It took me a click of a button to easily access the last 10 Annual (audited) Gold Circle reports from their web page.
They begin with an easy to understand summary given by the Chairman.
Glancing through a few you fall so easily across the following facts and figures pertaining to the Clairwood sale and the proceeds thereof.
For ease of reference, here are a few :
- 2011
Gold Circle Board under the Chairmanship Robert Mauvis (auditors KPMG)
Clairwood sold for R 430 million
- 2012 – 2013
Clairwood rented for R 4.7 million
- 2012
August, funds received – R 200 million rand of this will be ring-fenced in accorandance with Members Resolution
Stakes paid to owners R 73 million
Purchase of 550 new tote terminals – major upgrade
Demerger from Western Cape racing at a cost of R 7.3 million
International income generated through the sale of SA Racing overseas (managed by Phumelela) R 21.4 million
- 2013
Gold Circle profit before taxation R 8.8 million
Stakes paid to owners R 87.1 million
- 2012 – 2014
Capital cost of planning, development and construction of 500 stables, accommodation, moving equipment, horses etc and upgrade of facilities including synethic track at Summerveld – R 165 million
- 2013
Grooms accommodation offered at Ashburton & Summerveld to grooms at no cost. All water, electricity and maintenance is carried by Gold Circle
- 2014
July, last race meeting at Clairwood
- 2014
June, 1st race meeting on Greyville Polytrack
- 2014
Decisions made by the Tellytrack Board with regard to broadcast product pricing brought about R 90 million negative variance to Gold Circle income
Sports Betting & numbers increase
Stakes paid to owners R 93.3 million
Upgrade to Durban View Room
Move and upgrade bookmakers to undercover area
Construction of Lightning Shot Bar at Greyville
Chairman included a detailed report on the bookmakers dispute with Tellytrack
- 2015
Tellytrack income down 19 %
Installation and upgrade of large screen TV’s at Greyville
Stakes paid to owners R 93.5 (same as 2014)
- 2016
Gold Circle Board under the Chairmanship of Phumela Mnganga (auditors remain KPMG)
Stakes paid to owners R 109.3 million – 17 % increase
Tote income decrease by 3.4 %
During Champion’s Season 2000 horses stabled between the two centres
- 2017
Stakes paid to owners R 105.4 – down 3.6 % due to decrease in number of races
- 2018
Greyville Convention Centre generated income approx. R 11 million
Stakes paid to owners R 110.8 million
- 2019
Stakes paid to owners R 114.8 million
Greyville Convention Centre generated income R 10.8 million
Fitting of solar panels to Greyville stadium roof
Upgrade to Saddlers Arms and total makeover of the Short Head punters facilities
Total Gold Circle assets = R 893 million (liabilities R 203 million)
I understand a lot of people refer back historically to racing in the by-gone era of Champagne & Roses and it is a lovely memory.
The questions posed as to why there aren’t more people at racing have lost all impetus when reflecting on sport worldwide and the television coverage thereof together with the dip in the economy.
Also a fact so many miss is that ‘in the old days’ before casinos and numbers betting and sports betting and lottos, racing owned the lions share of the gambling rand. Now however racing owns only 0.06 % of that same gambling rand.
In these hard and unprecedented times the positive is our life boat…
How wonderful is it that we have a polytrack to race on during incliment weather?
How wonderful is it that we have the facilities to host visiting trainers during the Champion Season?
How wonderful is it that the current management moved with the times selling the naming rights of our stadium and securing the sponsorship of Hollywood Bets?
How wonderful is it that we now have money set aside for that tragedy or disaster often referred to as a rainy day?
I am proud of the board, both past and present!
- Pics – Hollywoodbets Greyville by Candiese Lenferna
