RA Racint Trust

I am quite interested in Warren's figures and in particular the 5.2 Donation to the Trainers' Benevolent Fund as the NHA scrapped that fund a few years ago (see www.sportingpost.co.za/2016/07/benevolent-fund-nha-responds/ ), so Warren - perhaps you could tell us which report you got those figures from and what the date was? Unless of course this refers to a Benevolent Fund that is different to the National Benevolent Fund which got scrapped.

Just a copy and paste from their Annual Repoty 2017 - Chairmans Report page 7

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This puzzles me

There are currently three vacancies, two of which are Racing
Association appointees and one is a SASCOC appointee.

Seems no members want to touch this seat or have they run out of insiders . Using this as an excuse not to hold meetings as no quorum ? very strange

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Muhtiman wrote:

Over the Air wrote: Until recently the RA HAD 105 Million invested in Unit Trusts.

It LIQUIDATED 100 Million to fund the purchase of Phumelela shares to assist there mates at Phumelela to pay for there acquisition of the stake in Supabets.

Seeing the undoubted influence Markus Madoff has in both Phumelela and the RA, should we not be enquiring whether the RA had any exposure to Steinhoff?

......does anyone know the rationale for the acquisition of Supabets anyway.....they already had Betting World....is Supabets still a separate brand and catering for a different betting market like that of WSB(big in Soccer bets).....but have TAB tote terminals at certain branches....do Supabets have these tote terminals in their shops....where are these shops..... :huh:

It was in an interiew with Riann Du Plessis as to why they bought it.I will look for the part , Also about retail space and cost savings , better way of doing it. Let me find it.

Part of Interview Alec Hogg
Rian Du Plessis
08 October 2017

AH: How are you planning to do that?

RdP: Well, we are competing very favourably, through Betting World, InterBet and SupaBet, and we are taking market share.

AH: On the cost cutting: have you got some scope there?

RdP: Yes, you will see in our results announcement we have implemented a voluntary retrenchment program as well as an early retirement program, which will cost us R30m in the new financial year and we’ll have a payback period of two years so that is very much a part of modernising our business. We are embracing technology as a business. We’ve now installed free Wi-Fi in all of our retail outlets. We’re implementing self-help terminals and mobile phone apps to make the cost of taking the bet cheaper, going forward and to meet the needs of the modern society. The tote has been around since forever and it has been in a desperate need of modernisation, which we’re attending to now.

AH: You did mention earlier a couple of times – Supabets. It was a huge deal for Phumelela – R437m with both shares and cash. The strategy there: what exactly is it? It’s 50% of Supabets, which you also elaborated on but what is the strategy there? What is that going to bring to the group?

RdP: Two things in the main. The one is that Supabets have perfected the high upper market retail betting outlet concept. Out of their ten stores, they made more money than the whole of Phumelela made out of 300 stores. Compared to your traditional betting outlet, which was 200-300m2, their stores are often 4000/5000m2 and provide a completely different betting experience, which we are benefitting from now. Between Betting World and Supabets, we’re entering into joint ventures where the Hypermarket store will be taken forward. That’s on the retail side. On the software side, Supabets has really excellent software, particularly on the sports side, where Betting World has been somewhat lacking, particularly when it comes to loyalty schemes and in-play betting. We’re implementing that in Betting World as well now.

AH: Not in the results, which is interesting is that in Supabets, I presume they weren’t betting on South African horseracing. Is that going to be brought into their package now?

RdP: Absolutely. We’re reintroducing horseracing. They used to do horseracing when they initially started. The product was not profitable for them, so they discontinued horseracing and they’

AH: What about the management for this company? How’s that going to work, because 50/50 can sometimes be tricky?

RdP: No. We actually have a very good relationship with the Anastassopoulos family – the two brothers, Phil and Photios and also the third brother, Pana and they’re excellent operators. We’re very happy and grateful partners of theirs.

AH: And one of them is coming onto the board.

RdP: Yes, Photios has come onto the Phumelela Board. They were paid partly in shares so it’s only appropriate for him to come and have a watch over his share price and share value.

AH: He’s got about 9% of the company. Is that right?

RdP: Yes.

AH: As far as the board’s concerned, somebody who served the company very well for a long time – Peter Malungani – the Chairman is stepping down after 20 years.

RdP: Yes, we’re very sad to see Peter go but 20 years is a long time and he indicated that it was time for him to step aside. So, he’ll be sorely missed and we are just very thankful for all the years’ service that he has given us.

AH: Who’s going to replace him?

RdP: I’m not at liberty to disclose that as yet.

AH: So, you haven’t appointed the new chairman, clearly.

RdP: Not yet, no. He will step down at the AGM and the board will then appoint the successor chairman.

.....he mentions that they have 10 stores/shops....in South Africa or the whole of Africa.....can only find 2 and they are in JHB.....one near Melrose Arch and one in Alexadria.....also their ad on TT shows a shop.....empty....for filming the ad so this is this larger outlet in Alex.....have Phum bought into Africa where Supabets have outlets....or are these just online betting portals....local website looks impressive....they are said to hire 1400 people....over a 100 per shop... :huh: .....the question should now be.....what did they actually buy.... :dry:

There is one n town in Elloff street.

Muht- look for the one in Jules street Malvern opp Spar and then one in Rocky street Yoeville. not sure why you are not picking those to up.

Supabets Sports Betting

50 Atholl Oaklands Rd

53 Raleigh St & Kenmere St

HIGH POINT BUILDING, Kotze St & CLAIM St

45 Kruis St

69 Plein St

.....what I don"t get if there are 10 or even 20 shops....how do you employ 1400 staff....and Duppie says the high upper market.....in Yeoville....Malvern.....Alex....really.....I believe Top bets in Hillbrow has one of the highest soccer betting turnovers but has no more than 40 staff.....

Muhtiman wrote: .....what I don"t get if there are 10 or even 20 shops....how do you employ 1400 staff....and Duppie says the high upper market.....in Yeoville....Malvern.....Alex....really.....I believe Top bets in Hillbrow has one of the highest soccer betting turnovers but has no more than 40 staff.....

Well its like Racing employs 100 000 , they talk shit,

I know that the one in Yoeville takes more on a Sturday on Soccer than all the branches together take on Racing in a month.

.....so the rationale was to buy a company with 10 outlets and low overheads....rather than fix or relocate some of the 120+ lowly attended outlets....says they had better software and yetTAB still suffers with sh!tty outdated systems....what do we eventually have to go to Yeoville or Hillbrow to place a bet..... :oops:

there is more to this story than meets the eye at first glance

Muhtiman wrote: .....so the rationale was to buy a company with 10 outlets and low overheads....rather than fix or relocate some of the 120+ lowly attended outlets....says they had better software and yetTAB still suffers with sh!tty outdated systems....what do we eventually have to go to Yeoville or Hillbrow to place a bet..... :oops:

Thats where we are going , closing branches , cuttimng costs , So play on line or go to Yeoville or Hillbrow. Rosebank had a Betting World branch , spent thousands on Club Elite - Closed

There is an accountant in charge not an owner or punter,

Warren Laird wrote:
Thats where we are going , closing branches , cuttimng costs , So play on line or go to Yeoville or Hillbrow. Rosebank had a Betting World branch , spent thousands on Club Elite - Closed

There is an accountant in charge not an owner or punter,

here is a prime example of PHUM missing a trick.....they have an excuse for Betting World Rosebank closing..... because the building is being renovated.....so W(hy)TF not advertise the Supabets branch at Melrose Arch as an alternative....are they keeping their brands from competing :huh: ......will take a gander at this Supabets outlet this weekend.....but I have a sneaky suspicion that they wont even have a tote terminal on the premises....and if so... Duppie is a doos..... :ohmy: