crr

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A petition of 60+ signatures was submitted for tabling at tonight’s council meeting. It reads:

“TO HIS/HER WORSHIP THE MAYOR AND COUNCILLORS OF THE CITY OF GLEN EIRA IN COUNCIL ASSEMBLED

This petition of certain residents of the City of Glen Eira draws to the attention of the Council the recent nomination of 3 councillors (Crs.Hyams, Lipshutz, Esakoff) as Trustees to the Caulfield Racecourse Reserve. We do not believe that these individuals are suitable candidates to adequately represent the interests of the community.

Your petitioners therefore pray that Council writes to the Minister requesting a revision of this decision and the appointment of different councillor representatives. And your petitioners will ever pray.”

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southwick

Source: http://www.davidsouthwick.com.au/funrun/

PS: AND NOW CRYING POOR!

Melbourne Racing Club struggling to profit from racing activities

  • by: Rod Nicholson
  • From: Herald Sun
  • February 26, 2013 12:00AM
Miracles Of Life

Melbourne Racing Club is owed money from Nathan Tinkler for his sponsorship of the Blue Diamond Stakes. Picture: Wayne Ludbey Source: Sunday Herald Sun

AUSTRALIA’S wealthiest race club will report a record profit at the end of the financial year – but a massive loss for its racing activities.

Melbourne Racing Club, which runs Caulfield, owns Sandown and is in partnership with Victoria’s biggest country club, Mornington, lost $5 million last year and is heading towards a $6 million loss this year from racing.

The purchase of eight profitable hotels with gaming facilities, on top of its two massive enterprises at Caulfield and Sandown, will provide the record profit.

The club has spent millions of dollars kick-starting a new precinct, branded Caulfield Village, which will have 340 residential units, a supermarket, specialty shops, professional services, restaurants and cafes.

It has already been paid a sizeable sum this year, boosting its profits, and anticipates massive financial rewards when the precinct is completed in 2017-18. But the club is so concerned with its racing activities, treasurer Brodie Arnhold has taken on the full-time responsibility of investigating every department in a bid to curtail costs.

The money woes have been compounded by the lack of payment of sponsorship by mining magnate Nathan

Tinkler for his Patinack Farm’s naming rights to Saturday’s Group 1 Blue Diamond Stakes.

He is yet to pay what club chairman Mike Symons describes as “significant and substantial money”.

Tinkler, now having finished the last year of a three-year deal, was not bound to pay until after Saturday’s event.

The club is already talking to prospective new sponsors but remains hopeful Tinkler will honour his agreement.

Symons said the club had three areas of operation.

“The investment in gaming and other activities is highly profitable, and we have received money from our investment in the Caulfield Village,” he said.

“We will deliver a record profit for 2013, but the costs of our racing are getting out of control and we need to make that side of the business as efficient as possible without sacrificing our service to patrons.”

The club recently spent spent millions upgrading the Caulfield racetrack.

It also spent millions merging with Mornington Racing Club.