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Coronavirus Implications for Racing

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Post Options Post Options   Thanks (0) Thanks(0)   Quote acacia alba Quote  Post ReplyReply Direct Link To This Post Posted: 15 May 2020 at 9:59pm
Hope racing is back on in Tassie next month.   Permission to trial next week I think.
animals before people.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Go Flash Go Quote  Post ReplyReply Direct Link To This Post Posted: 16 May 2020 at 1:10pm
Originally posted by Gay3 Gay3 wrote:

Spring Carnival in Melb expected to be crowd free & have also heard not untill next year. They can only operate & plan as cases eventuate or not & where, so it'd be stupid to give a time expectation then have to reassess.At least this industry is still viable, unlike most.

They're calling it non- Patron Raceday at Flemington today ..... ! ....  guess that answers that then (forward planning Wink )
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Post Options Post Options   Thanks (1) Thanks(1)   Quote Spearmint Quote  Post ReplyReply Direct Link To This Post Posted: 16 May 2020 at 6:11pm
Well I think it might be about time to think about when to allow some limited amount of spectators to attend race meetings.

I would hope that a limited amount of owners be allowed to attend when they have a horse racing at the meeting.

Possible criteria should include:
- minimum ownership of 10%
- maximum of 5 owners per horse and no guests.
- be allowed to enter racecourse 1 hour before your race and leave 1 hour after

I guess I miss the whole atmosphere of being there to see my horses race. I drive anywhere to see my horses race when they run. I also like to attend at the stables and watch track work as well.

At the moment I feel no connection and if I wanted to watch my racing on TV I may as well be in a syndicate anywhere in Australia ( no thanks)

Anyway when restrictions ease a little I hope the owners are the first ones allowed back on track In some some limited capacity, as I think you may just lose a few owners if you keep them away until after the spring carnival when other restrictions are already being eased at the moment.

Mind you if it looks like a second wave of Covid. 19 is about to breakout then by all means keep these tough restrictions in place.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Gay3 Quote  Post ReplyReply Direct Link To This Post Posted: 17 May 2020 at 4:26pm

Racenet was back at the races - and here's how it went down

Ben Dorries

Chris Waller was right – it sure does feel a hell of a lot safer than going to the supermarket.

After months away from the track as the coronavirus pandemic hit, the Gold Coast Turf Cub invited me to cover the races on Saturday and I sought permission from Racing Queensland as well as my employer who both agreed as long as protocols and social distancing were followed.

Chief steward Peter Chadwick was also comfortable with Racenet being allowed on track for the Gold Coast Guineas meeting.

Outside of ‘essential’ broadcast media, I believe I may have been the first written journalist to be allowed back onto a racetrack anywhere in Australia.

Arriving an hour before the first race, I pulled up at the same time as jockey Robbie Fradd (turns out he has a much nicer car than me, who would have thought!).

I was ushered into the entry normally reserved for horses, my temperature was checked and recorded and given a bright blue wrist-ban to show I was A-OK to be on track. 

Wandering through the Turf Club precinct, it didn’t take long to realise this indeed was a ghost town and there was an almost eerie feeling for a while as I got used to it.

The areas where bookmakers would normally have been setting up shop and punters would have usually been studying some last-minute form and getting ready to strike were about as barren as the Sahara Desert.

Under escort from Turf Club CEO Steve Lines, I observed the COVD-19 protocols in the jockeys' 'room' and that revealed the little lads and ladies just about had the place to themselves.

They and their gear were spread out in a huge inside area adjacent to the mounting yard which is normally the domain of members.

Even with all the jockeys, there was a heap of spare space and more than enough room to swing plenty of cats.

The trainers had a funky function room upstairs to themselves and were mostly spread out on loungechairs.

Australia in 2020 is very different – and so too are the races which have, remarkably and fantastically, kept on keeping on through the pandemic.

There were certainly no complaints from participants about the protocols in place and, indeed, one jockey on Saturday quipped he actually hoped they would remain.

I think he was probably serious.

“This is outstanding, there’s no owners to harass me and no punters screaming abuse at me from the stands!” the jockey quipped.

There was little or no atmosphere on track – there simply weren’t enough people on course to create any and admittedly it wasn’t a high-profile meeting anyway - but it didn’t matter one bit in the current environment.

“It feels like being at the barrier trials, doesn’t it?” leading local trainer Toby Edmonds observed.

"But how good is it that we are racing."

*Hightail wins the Gold Coast Guineas. Photo: AAP

Back in March, as racing was hanging by a thread, champion trainer Chris Waller told Racenet that he believed racing’s ability to keep going hinged on the coronavirus curve flattening – but he also pointed out he felt safer at the races than he does at his local supermarket.

You can read that story HERE

After returning to the races on Saturday, I reckon Waller hit the nail on the head.

With the Sunshine State continuing to relax its coronavirus restrictions, plenty of Queenslanders headed from Brisbane to the Gold Coast beaches on Saturday and lots of other businesses were opening and operating in a restricted fashion.

I’m no doctor but I’m tipping you would have been far more likely to get sick at your local café or surrounded by beachgoers on Saturday than at the races where you could probably fire a gun and not hit anyone.

And it’s $1.01 you would come across more people at close range in the fruit and vege section of your local supermarket than at the races at the moment.

Racing has done a fabulous job to keep racing through the pandemic and I still don't reckon officials have got the kudos they deserve for acting promptly and making smart decisions like confining jockeys to specific zones.

But the very nature of the code has also helped.

It is generally a solitary profession for trainers and jockeys who, as a matter of course, spend a lot of time working early in the morning and don’t have many others for close company.

And with racetracks stripped of crowds, the risk seems minimal as long as everyone toes the line and no-one acts like a goose and stuffs things up.

It will still probably be months before fans are allowed back to the races and even when that happens it will probably be very much be in a restricted sense in terms of crowd numbers and areas that are open.

But in the meantime, Racenet is hoping our journalists based in other states – and indeed all other written and website media – will soon be allowed back to the races.

Racenet, like other media outlets, can be the eyes and ears of punters at the track and bring you, the valued reader, the very best and latest news from on-course.

Racetracks, with their vast expanses and all their empty space, are probably one of the safest places in Australia right now. 

* Note: In Queensland during the winter carnival, Racenet is looking forward to being on track every Saturday to provide readers with news reports, race reviews and the latest from the stewards' room. *

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Post Options Post Options   Thanks (1) Thanks(1)   Quote Spearmint Quote  Post ReplyReply Direct Link To This Post Posted: 18 May 2020 at 12:50pm
Interesting article.

It looks like the journos will be the first welcomed back. I guess if you want to control the information going to the public, then you get them onside!

What a stupid thing for a jockey to say about owners. Does he not realise that without owners, the show will not go on and he can find employment elsewhere.
I bet he is not alone with his warped thinking
I also recognise that racing does not go on without jockeys and thank those who go through these unprecedented times to keep the show on the road, along with the trainers and support staff.
Some of us owners love the whole experience one can have with a racehorse and watching it on TV for a few minutes,while ok at this stage, should be relaxed for owners as soon as it is safe to do so!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Gay3 Quote  Post ReplyReply Direct Link To This Post Posted: 18 May 2020 at 5:21pm

Racing Victoria has announced some updates to its COVID-19 protocols, including changes to its travelling companion restrictions and the allowance of the Green Team jockeys at the Mornington jumpouts.

“We’ve regularly stated that we will review the protocols in place for the safe continuation of Victorian racing on an ongoing basis and these amended protocols emanate from that process,” said Racing Victoria Chief Executive, Giles Thompson.

“We are satisfied that the strict policies around the segregation of jockeys on raceday can be replicated for jump-outs conducted by the MRC, VRC and Cranbourne, and accordingly we are comfortable with extending the Approved Green Team Jump-Outs to include Mornington also.

“Since the ban on travelling companions was imposed a month ago to help facilitate the stabling of horses from training centres together on raceday and further assist social distancing measures, there has been considerable feedback from trainers around the importance of the companions from a horse welfare viewpoint.

“Having reviewed the allocation and management of raceday stalls over the past month, we are now satisfied that we can allow selected travelling companions on raceday where it is essential to the welfare of horses travelling on their own to and from the racecourse.”

Effective from Wednesday, jockeys in the Green Team will be permitted to participate in local jump-outs conducted by the Melbourne Racing Club (MRC) at Mornington, in addition to local jump-outs at Caulfield, Cranbourne, Flemington and Sandown.

The prohibition on jockeys in the Green Team riding trackwork (including on the morning of Approved Green Team Jump-Outs) remains in place until otherwise advised, as does the prohibition on them participating in jump-outs at other training centres and racecourses.

The MRC, Victoria Racing Club (VRC) and Cranbourne Turf Club (CTC) continue to implement measures that maintain the segregation of participating jockeys in the Green and Gold Teams at their local jump-outs, replicating what occurs at all race meetings.

The Approved Green Team Jump-Outs recognise the health and wellbeing challenges faced by members of the Green Team, in particular in maintaining their weight and fitness without trackwork permitted and with the closure of gyms, on-course spas and saunas.

The protocol banning all travelling companions, including ponies, will be amended with effect from Wednesday, 20 May 2020 to allow them under the following circumstances only:

a trainer will be permitted to bring a travelling companion to a racecourse where they have one runner only engaged at the race meeting and they have been granted approval by the host Club who will determine whether there is suitable space to accommodate them; and

the trainer notified Racing Australia at the time of nominating their horse that a travelling companion was required.

For eligible horses engaged at Ballarat this Wednesday, notification to Racing Australia will be permitted at tomorrow’s acceptance deadline for this meeting only.

The prohibition on trainers with multiple runners at a race meeting bringing travelling companions remains in place and RV Stewards will continue to monitor compliance with the protocol by those not eligible or approved to bring a companion.  

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Post Options Post Options   Thanks (1) Thanks(1)   Quote slowdown Quote  Post ReplyReply Direct Link To This Post Posted: 18 May 2020 at 10:18pm
Trials at Longford tomorrow. finally we are underway. lets hope it continues..... Not sure if we have lost trainers however i know we have lost quite a few breeders(many were sailing close to the wind before this). Jockey ranks -  Froggy gone for now and a number of o/s jockeys are gone. The state racing and breeding had made huge inroads prior. Let's hope we can do it again. We have a great little industry down here. Proud to be part of it.........
Rebel - racing. Lionel - in work. Glory - spelling. Ray - spelling. A Wee Nip - in work.
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Post Options Post Options   Thanks (1) Thanks(1)   Quote acacia alba Quote  Post ReplyReply Direct Link To This Post Posted: 19 May 2020 at 1:15am
Fingers crossed , Slowdown, that it can reboot for Tassie. 
animals before people.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote slowdown Quote  Post ReplyReply Direct Link To This Post Posted: 19 May 2020 at 8:32pm
One step closer today
Rebel - racing. Lionel - in work. Glory - spelling. Ray - spelling. A Wee Nip - in work.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Petiterhapsody Quote  Post ReplyReply Direct Link To This Post Posted: 19 May 2020 at 8:54pm
This breeders still here Slowdown, I've even just lodged paperwork to work on the racing side of things!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote slowdown Quote  Post ReplyReply Direct Link To This Post Posted: 19 May 2020 at 9:28pm
Originally posted by Petiterhapsody Petiterhapsody wrote:

This breeders still here Slowdown, I've even just lodged paperwork to work on the racing side of things!
good to hear an all the best
Rebel - racing. Lionel - in work. Glory - spelling. Ray - spelling. A Wee Nip - in work.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Batman Quote  Post ReplyReply Direct Link To This Post Posted: 22 May 2020 at 2:44pm
Queensland is a joke. Story on Racenet that Blake Spriggs is going into quarantine for 14 days to ride in the Stradbroke. Then says he’s training twice a day and long walks to lose the weight. Thought quarantine means stay in house.
Spriggs has sacrificed a fortnight’s bookings to move to Queensland to do the required 14 days quarantine before he is allowed to ride in the state.

The jockey is spending that time training twice a day with a long walk in between to lose the weight required to ride Grand Piano in the Stradbroke.

“When I got on the scales this morning, I have probably got about 3kg to lose,” Spriggs said.
Gambling has brought our family closer together. We had to move to a smaller house.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Go Flash Go Quote  Post ReplyReply Direct Link To This Post Posted: 06 Jun 2020 at 1:57pm
Dreamt about going to the races Smile again very recently l think it was nice saw a trainer (who or whom Wink shall remain nameless ) ... was with guard dog on a leash he was kind of walking for protection ... wasn't Flemington which is on today  maybe old Werribee or Cranbourne not quite city nor country which is quite about right for me SmileSmileSmile ... anyway digressing now a bit point being seeing a few posts hope none say we can now go ....
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Spearmint Quote  Post ReplyReply Direct Link To This Post Posted: 17 Jun 2020 at 1:33pm
Have just read that owners will be allowed back at the races in Victoria if your horse is racing at that meeting.
Not sure of the details of how this will work but it looks like it will be from Monday June 22Clap
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Gay3 Quote  Post ReplyReply Direct Link To This Post Posted: 06 Jul 2020 at 3:08pm
Mitch won't be the only one affected either Confused

Beer: We're in a 'state of panic'

Ryan Reynolds

Albury trainer Mitch Beer admits he is in a 'state of panic' after New South Wales announced it would shut its borders to Victorians from Tuesday.

Beer, who has 'six or seven' staff members based in Victorian border town Wodonga, said the sudden announcement on Monday morning had significantly driven up the anxiety levels in his stable.

He is now unsure if his staff will be allowed to come to work from Tuesday or if they will be given special permits to allow them into New South Wales.

Adding to his growing concerns, Beer also sources his hay and feed from Victoria and is unsure whether he will be able to get access to that when the borders close.

Beer said the lack of clarity and communication about the extent of the border closure made it impossible to plan appropriately.

"I'm in a state of panic to be honest," Beer admitted.

"The border shuts tomorrow night. I get my hay, my feed, everything across (from Victoria).

"I have a specific feed that I need to get I don't know, I don't know if it will be allowed for those guys to truck feed over, but I get feed three times a week.

"I've already had to change my farrier and my vet because they were Victorian based.

'Now, whether supplies are going to be an issue I have no idea.

"If they released something that said the borders are shut but here's the rules for people that come across (it would be easier).

"We have staff that come backwards and forwards twice a day for the morning and afternoon shift. They are ringing me. I don't know. Our office is trying to find out what's going to happen and this is 24 hours away."

Beer was forced to put his Victoria-based staff and farrier up with him in Albury when COVID-19 restrictions were first implemented, with Racing NSW banning those from interstate from racing facilities unless they completed quarantine.

However, he had worked with racing authorities for his staff to bypass mandatory quarantine as long as they went between Victoria and his stables.

He is unsure if that would be allowed to continue under the new border measures.

"We've got no idea, there's talks of permits and things but we don't know about permits," he said.

"The staff don't know how to get one. I've got approved staff from Racing New South Wales that can cross the border and only come to work and go back.

"It's pretty distressing when they are shutting the border and don't have any information of what needs to be done and you've got 24 hours to work it out.

"I'm sure they'll be allowed to come to work still but under what protocols I don't know. Are they only allowed to come once a day?

"If they're going to be stuck on the border for an hour-plus getting ticked off to come to work twice a day then I'm probably better off renting a big Air BnB and having one big happy family in Albury."

Beer said 2020 had been one of the most challenging years he had gone through as a trainer.

"It's just been relentless," he said.

"It's like training 40 horses is half your day and then dealing with bushfires and a pandemic is the other half.

"This year feels like the Grand Annual. You look up and there's another hurdle, you get over that one and (theres another one to come).

"You just have to keep working it out and keep going forward. You can't just say, 'Oh this is too hard now'."

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Gay3 Quote  Post ReplyReply Direct Link To This Post Posted: 08 Jul 2020 at 2:25pm

NSW bans racehorses from Victoria

Ben Dorries

In a move that could throw spring carnivals into chaos, NSW chief steward Marc Van Gestel has confirmed that racehorse movements from Victoria into NSW will be banned indefinitely.

Van Gestel confirmed NSW stewards will enforce an immediate ban on any racehorses currently stabled in Victoria being transported into NSW.

NSW racehorses can still enter and race in Victoria but Racing NSW will ban those horses from returning to NSW.

Melbourne went back into lockdown on Wednesday as Covid-19 cases continued to rise, while NSW closed the border with Victoria on Tuesday.

Racing NSW stewards issued an order on Wednesday morning confirming the ban on horse transfers from Victoria.

The previous protocols which permitted the transfer of horses from Victoria have now been rescinded until further notice, the Racing NSW stewards ruling read.

"Effective 8 July 2020 Racing NSW has prohibited the transfer of horses from Victoria to any NSW racing stable, licensed premises or racecourse."

Stewards have also ordered any registered participant that lives in or has travelled to Victoria to do a mandatory 14-day quarantine period before entering a racecourse or stable.

The quarantine period will be compulsory, irrespective of whether a NSW work permit has been issued to a participant.

Any previous permission granted to participants to travel between the states has been withdrawn.

It is likely the NSW ban on Victorian hoprses will extend for a minimum of six weeks while Melbourne is in lockdown.

Depending on how long the ban lasts for, it could have a significant bearing on the spring carnival and in particular for those Victorian horses that were intending to compete in the rich Sydney spring carnival.

It will also impact Ciaron Maher and Dave Eustace who have stables in both Sydney and Victoria, as does Team Hawkes.

Trainers who live near border towns were already in limbo and now face more troubling times.

NSW Premier Gladys Berejiklian has warned those living in border towns that they should not travel to other parts of the state.

Berejiklian confirmed her government was even considering moving the border north of Albury or potentially putting border towns into lockdown if the COVID-19 spread became worse.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Gay3 Quote  Post ReplyReply Direct Link To This Post Posted: 09 Jul 2020 at 1:26pm

Border trainers feel the pinch

Ryan Reynolds

Trainer Mitch Beer says he feels like he has been kicked in the guts by the COVID-19 protocols set to be implemented by Racing New South Wales from Thursday.

Albury-based Beer's Wodonga-based staff had been able to work at his stables via a special permit granted by Racing NSW.

It meant they could cross from Victoria into NSW and attend his licensed premises only if they went directly to and from work and home.

However, Racing NSW announced on Wednesday that those permits had been rescinded from Thursday and those travelling from Victoria to NSW would be forced to quarantine for two weeks before being allowed on racetracks and other licensed premises.

Beer said he only found out about the decision on Wednesday morning and now his staff have been forced to make a decision on whether to move to NSW for the foreseeable future in just hours.

"I'm struggling to get my head around it. Telling staff they've got a matter of hours to go home, make a decision on whether they can come back to work or not (is hard)," Beer said.

"They've got kids, they've got families, they've got animals. You struggle to think that it's real.

"I sat them all down and had a meeting and you're talking and in your head you're thinking, 'Is this really happening'?

"It's put them in a horrible situation. They're a great group of young people and no one wants to let anyone down, but they've got family commitments, partners, the works.

"I had no prior knowledge, I sensed it, but until word came this morning, that was the first time I'd heard about it as well. (It's a) massive (kick in the guts), it's really knocked us for six."

Beer said the decision would have a significant financial impact on his stable, with his Victorian-based staff now needing to be accommodated in NSW.

And that is a process in itself with hundreds of Australian Defence Force members and NSW Police descending on the town to help implement tough border restrictions.

Beer said had his staff not been so 'unbelievable' and keen to keep working despite the upcoming hardship, he might have been forced to send his entire stable for a spell as he wouldn't have had the staff members to look after all of his horses.

Racing NSW has also banned horses from Victoria crossing the border from Wednesday.

Beer said he had a lot of horses spelling in Victoria, but thankfully none of them were due to return to work any time soon.

Echuca/Moama trainers Donna Gaskin and Michael Cornish also have a big decision to make following the introduction of the border restrictions.

The husband and wife training partnership had lived in Moama before the pandemic hit earlier this year, but restrictions forced them and their two children to house hop with friends in Echuca.

Now, Gaskin concedes, Cornish may look to return to Moama with their children in a bid to get some stability back in their lives.

"We've been bunking between friends, and we've got two young kids so you can wear your welcome out a little bit as well," Gaskin said.

"Mick is thinking of taking the stance and just say, 'bugger it' and just go home with the kids. The kids can't keep going the way they are, they're only young."

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Gay3 Quote  Post ReplyReply Direct Link To This Post Posted: 22 Jul 2020 at 12:49pm

Beer's plea to racing


Albury trainer Mitch Beer has made an emotional plea for help from racing, with current COVID-19 restrictions taking him to the brink.

Beer was informed recently that 22 of his horses spelling in Victoria would, under no circumstances, be allowed back into New South Wales as part of Racing NSW's strict horse transport measures.

Under the rules, any horse travelling from Victoria cannot return to a licensed premises in NSW.

The border trainer said he wasn't given enough time to organise the return of his horses across the border when Racing NSW made the snap decision earlier this month due to the rise in Victorian COVID-19 cases.

He fears his money will eventually run out if he isn't allowed to get more of his horses back into work.

But he has vowed to spend every cent he has to his name rather than lay off any of his 'incredible' staff.

Beer also highlighted other nightmare issues the restrictions have caused, including a 1100-kilometre round trip to race at Goulburn because he wasn't allowed to take his horses to Wodonga 10km away.

He also completed an overnight journey to race at Warwick Farm, only to find out once he arrived that the races had been called off due to COVID-19 concerns.

"The lack of support we've had (from racing is disappointing). I've had no one from Racing New South Wales or no one from Racing Victoria ring up and say 'Hey, how are you doing? How are your staff going? Can we help in any way'?" Beer said.

"I think it's very average. We are a cog in the chain in this whole operation and I haven't whinged or complained during the whole thing because keeping racing going is massive.

"You cop whatever you can to try and prevent that. But through these border closures and horse movement stuff, there's a very, very small amount of people really, really affected. But no one has been hit harder than the people of Albury-Wodonga and it's disappointing, the lack of support.

"We are taking horses to Dubbo, Bathurst. I drove to Sydney and the races got called off, stayed the night, left early and got home and the next day I loaded up and did a 1100-kilometre round trip to Dubbo and came back.

"I took horses an hour-and-a-half this morning just to give them a jumpout at Wagga because I can't go anywhere else. I took two horses on Sunday to an official trial at Narrandera, which is 2.5 hours away, just to give them an official trial at 5:15pm on a Sunday night.

"But we have no other option.

"You try and stay as positive as possible, but you can't sugar coat that it's a very, very testing time."

Beer said he has made contact with RV in an attempt to get some stables on the other side of the border so he can get some of his horses back into work.

"We've got 22 horses on the other side of the border. We are working with both parties," he said.

"I spoke to Racing Victoria about potentially having some temporary boxes on the other side of the border. It's just all unknown."

Beer said the restrictions were taking a significant financial toll on his business but he reiterated that he'd use every dollar he had to his name before even contemplating letting staff go.

He is currently housing his Wodonga-based staff in Air BnB properties in Albury so they can work at his stables.

"I've got such a responsibility to keep 14 people in a job," Beer said.

"They have packed up their lives and moved over here for their job. There is no one here that is going to be laid off due to it, we will keep all our horses going and do what we can.

"The burden and stress of it all is one thing and you throw the financial stress of it all as well. At the end of the day we are a country stable.

"I added it up when it first came and I don't think I want to again, but between the accommodation and travelling we are doing, it's a good $2000 and $2500 a week on top (of our usual costs) minimum."


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Post Options Post Options   Thanks (0) Thanks(0)   Quote Batman Quote  Post ReplyReply Direct Link To This Post Posted: 03 Aug 2020 at 6:38pm
Absolutely amazing that racing can continue under Level 4 lockdowns in Victoria. Hardly an essential service
Gambling has brought our family closer together. We had to move to a smaller house.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Gay3 Quote  Post ReplyReply Direct Link To This Post Posted: 03 Aug 2020 at 7:02pm
The proof of the pudding's in the eating! COVID free for many months with 10s of thousands of participants adhering to very strict rules, proving that it should never have been as prolific as it is now Tongue
Wisdom has been chasing me but I've always outrun it!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote max manewer Quote  Post ReplyReply Direct Link To This Post Posted: 03 Aug 2020 at 7:06pm
Fair comment, I was thinking it an anomaly that it hasn't found its way into the racing industry, but maybe not.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Baghdad Bob Quote  Post ReplyReply Direct Link To This Post Posted: 03 Aug 2020 at 7:12pm

Tabcorp has announced that it expects to write off $1.0bn-1.1bn of goodwill on its Wagering and Gaming Services divisions. The write-off is due to the COVID-19 lockdowns, the potential for a quicker decline in retail wagering than expected, and 'the level of competitive intensity ... particularly in the digital centric market'. We'll know more about how the company fared when it releases its full-year result on August 19.

While the goodwill write-off is technically a 'non-cash adjustment', it's really a matter of management overpaying for assets in previous years, such as Tatts' wagering business when it merged with the company in 2018. The cash went out the door yesterday; the balance sheet is just playing catch-up. This is the latest example in a string of management fumbles and, we suspect, partly why Tabcorp's chief executive and chairman resigned last week.

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Post Options Post Options   Thanks (1) Thanks(1)   Quote oneonesit Quote  Post ReplyReply Direct Link To This Post Posted: 03 Aug 2020 at 7:28pm
God they should consider themselves very lucky. If Racing had been locked down like it was in many countries it would have been a darn lot worse.
Refer ALP Election Promises
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Second Chance Quote  Post ReplyReply Direct Link To This Post Posted: 03 Aug 2020 at 7:38pm
Originally posted by Baghdad Bob Baghdad Bob wrote:

  Tabcorp has announced that it expects to write off $1.0bn-1.1bn of goodwill on its Wagering and Gaming Services divisions. The write-off is due to the COVID-19 lockdowns, the potential for a quicker decline in retail wagering than expected, and 'the level of competitive intensity ... particularly in the digital centric market'. We'll know more about how the company fared when it releases its full-year result on August 19.

While the goodwill write-off is technically a 'non-cash adjustment', it's really a matter of management overpaying for assets in previous years, such as Tatts' wagering business when it merged with the company in 2018. The cash went out the door yesterday; the balance sheet is just playing catch-up. This is the latest example in a string of management fumbles and, we suspect, partly why Tabcorp's chief executive and chairman resigned last week.  

Attribution please.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Baghdad Bob Quote  Post ReplyReply Direct Link To This Post Posted: 03 Aug 2020 at 7:41pm
A very private investment newsletter for SMSF trustees. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Second Chance Quote  Post ReplyReply Direct Link To This Post Posted: 03 Aug 2020 at 7:52pm
So it's very likely self-serving stuff from hidden corporates or just plain bullsh*t.  Thanks for nothing as per usual Bob.  Big smile
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Gay3 Quote  Post ReplyReply Direct Link To This Post Posted: 03 Aug 2020 at 7:55pm

The Victorian Government has confirmed racing will continue while other parts of the economy are shut down as part of the states latest tactic to cope with the COVID-19 outbreak.

Premier Dan Andrews announced Victoria was in a State of Disaster on Sunday afternoon as the pandemic continued to claim lives.

Andrews announced a nightly curfew on the public on Sunday and closed some businesses for at least the next six weeks.

But it will be business as usual for all three sectors of the Victorian Racing Industry.

Andrews noted the industry could continue on animal welfare grounds but also said the industrys protocols made racing a low risk activity.

Racing Victoria chief executive Giles Thompson said those strict protocols, that included the banning of all bar essential personnel from race meetings and trackwork, were a key reason the industry was able to continue during an unprecedented period of public restrictions.

It is these biosecurity protocols, coupled with the diligence and cooperation of all within Victorian racing, that has seen 190 race meetings and over 1600 races safely conducted in Victoria during that period without a single case of COVID-19 in our industry, Thompson said in a statement.

We have today been advised by the Victorian Government that racing and training can continue under the strict biosecurity protocols that have safely guided our industry throughout the past four-and-a-half months without a COVID-19 case.

We dont take the right to continue racing during these unprecedented times lightly.

We are extremely grateful for the opportunity to maintain jobs and continue supporting the 110,000 people who are employed or participating in Victorian thoroughbred racing.

Thompson said RV needed to reinstate a ban on all owners attending race meetings but RV could introduce further initiatives to ensure racing could continue during the pandemic.

As we have done throughout the pandemic, we will continue to take decisive action to ensure that we provide the safest environment possible for those participating in Victorian racing, as well as the wider community, he said.

I also want to take the opportunity to remind everyone within the Victorian racing industry of the critical need to continue to abide by all Government directives, in addition to our biosecurity protocols.

No one wants to undo all the great work by the industry to reach this point.

Wisdom has been chasing me but I've always outrun it!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Bonjour Quote  Post ReplyReply Direct Link To This Post Posted: 03 Aug 2020 at 7:59pm
[QUOTE=Gay3]The proof of the pudding's in the eating! COVID free for many months with 10s of thousands of participants adhering to very strict rules, proving that it should never have been as prolific as it is now Tongue [/QUOTE

Remember, the revenue the GOV received from racing is huge, once it was the 3rd highest income they received from the public sector, not now, but still huge......and boy does Dan need some pennies to pay for this.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote horlicks Quote  Post ReplyReply Direct Link To This Post Posted: 03 Aug 2020 at 8:03pm
TABCORP announcement to the Stock Exchange



Expected non-cash goodwill impairment charges and FY20 preliminary unaudited results
Tabcorp Holdings Limited (Tabcorp or Company) today announces that, following the latest
review of the carrying value of its assets and in accordance with relevant accounting standards, the
Company expects to incur non-cash goodwill impairment charges in the range of $1,000 million
to $1,100 million(1) in its financial results for the year ended 30 June 2020 (FY20) (2).
The non-cash goodwill impairment charges relate to the Wagering & Media and Gaming
Services businesses. They reflect an assessment based on underlying assumptions which take
into account, among other matters:
the direct impact of the Government and other measures to address the COVID-19
pandemic on these business operations;
the possible acceleration of retail contraction and uncertainty regarding any longer term
impacts as an indirect result of the pandemic;
the level of competitive intensity and structural changes in the Wagering & Media business
particularly in a digital centric market; and
the potential decline in consumer confidence and increased economic uncertainty.
The goodwill impairment charges are non-cash and do not impact the Companys financial
covenants with its lenders. The book value of goodwill for these segments at 30 June 2019 was
$2,945 million.
In addition, Tabcorp announces that it currently expects FY20 EBITDA (before significant items)
to be in the range of $990 million to $1,000 million (FY19: $1,124 million) and net profit after tax
(before significant items) to be in the range of $267 million to $273 million (FY19: $396 million).
Final FY20 results, including the goodwill impairment charges, are subject to completion of the
external audit and Board review and approval of Tabcorps FY20 financial statements.
Tabcorps Managing Director and CEO, David Attenborough said: COVID-19 has materially
impacted our Wagering & Media and Gaming Services businesses. We are facing into a
challenging and uncertain environment, and the current operating conditions and those
expected into the future are relevant factors in assessing the value of the goodwill in those
businesses at this time.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote furious Quote  Post ReplyReply Direct Link To This Post Posted: 03 Aug 2020 at 8:25pm
How are the stallions flying in to Victoria getting up to NSW?  Swapping drivers at the boarder?
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