Re:4Racing reshaping - getting jiggy jiggy

4Racing reorganises its business operations as it looks to the future

After completing its first financial year as horseracing operator, 4Racing has reviewed its operations and reorganised its business divisions to allow for a leaner, more performance-driven business.

Effective as of 1 March 2023, the company will be rearranged into the following three distinct business divisions:

- Racing Operations (to manage the racing business)
- Betting (which will include all revenues and costs relating to betting products, including retail)
- Content (which includes content, broadcast and rights distribution).


“As we have reached the end of the financial year (February 2023) and reflect on the past year’s considerable and insightful learnings, it is evident that 4Racing is ready for a new lease on life regarding how it operates from a revenue generation and expense management perspective. We are under no illusions about how difficult the horseracing and tote industry continues to be, which makes managing every cent and finding new business models crucial, as we look to support the sustainability and growth of the industry,” said 4Racing Chief Executive Officer, Fundi Sithebe, about the need to reorganise the business.

Sithebe said the process will realign certain job functions and business units, so as to improve operational efficiencies and lay strong operational foundations to provide a platform for sustained success.

“As we have said from the outset we want to ensure our 4Racing culture is accountable and transparent, hence we are also communicating these operational changes to the broader horseracing industry that 4Racing serves. We believe 4Racing is well positioned for success, and we need to ensure that our business is at the heart of everything we do, with a strong focus on execution and performance. We believe these changes will incentivise revenue growth and help us better manage and allocate costs, as we look to provide the platform for future growth,” added Sithebe.

This reminds me of how Eskom wants to rearrange their business

You cannot expect results when you are using the same old methods and old people in your execution.

You need to evolve, reinvent yourself and get young and bright people in to execute.

I see retrenchments coming as they "realign certain job functions and business units" but the head honchos will continue to live large...
Here's a tip...."so as to improve operational efficiencies and lay strong operational foundations to provide a platform for sustained success"...do simple things exceptionally well...you can have the best systems, processes, controls but the people element is the most important...look at Eskom...a nucleur power plant can be rendered useless by an idiot placing a spanner where it doesn't belong...Homer Simpsons them all...

Sammy Silver wrote:

This reminds me of how Eskom wants to rearrange their business

You cannot expect results when you are using the same old methods and old people in your execution.

You need to evolve, reinvent yourself and get young and bright people in to execute.

I'm hearing they tried new people... And are now relying on the old staff to fix issues caused

How much did they lose??????

I remember the Jumbo parking allocator getting very shirty with the Cape crew when questions around their financial performance was asked about.

They as bad as those before them. Bortz has shown that you need to get your hands dirty and be involved in day to day running of the business. Ivory tower management dont work. These posers have no clue

I wonder if Fundi the fearless has spent a minute in one of the totes?

Bob Brogan wrote:

I'm hearing they tried new people... And are now relying on the old staff to fix issues caused

If this is true it shows the extent of their cluelessness.

Sad

Wouldn't like to get the soles of her L's dirty...people like titles but are so aften clueless of what the post entails...sad...

But what do we know?? It's not us spending/wasting other people's money...

Read an article in the Sporting Post from Joao from the IRC , he took a prospective owner to the course and was abruptly told he cant enter a certain area as he was wearing shorts then he goes to the parade ring and there are owners there wearing shorts , needless to say that owner will never invest in sa horseracing going forward

Operation Savage has been a spectacular fail with the hand-picked Jumbo parking allocator.

The benefactor has replaced Operation Savage with Operation Duff, hence this announcement.

The 4Q CFO who was also clueless like the Jumbo parking allocator in relation to their knowledge and understanding of horseracing, recently parted ways with 4Q.

The abortive MOD coup is firmly placing their hope on Duff (also not a racing person) to rescue 4Q from what appears to be an imminent casualty heading into the business rescue chambers.…

With just R760k I could give them a product that would turn the ship around so fast they would never look back. It does involve WEB3 and digital assets but would be a money spinner of note.

And before someone asks why I do not do it for myself ... I is retired and relaxed.... would not mind being involved as a sideline but have no ambition to start a dynasty

I am sure WSB waiting in the wings to take over.

WSB surely waiting to rename the 4Q racing venues as they sponsor most of the big races!!!

When i worked for Telkom, our Manager called it quits after 38 years as the business was also "transforming" itself(into the ground as it turned out). He came from the bottom and worked his way up. He knew his shit, i didn't particularly like his autocratic style of leadership, but he got the best out of us and we were one of the better performing technical divisions. The last stop shop if everybody else couldn't do it.

We were all excited thinking naturally one of us would get the job as we were all very good at our jobs and just need to step up that notch to management level. Alas, they brought a guy in from a completely different division that had nothing to do with the work we did. He wasn't technical at all. It was like talking to a brick wall when you asked for his expertise.

Long story short, this is the sense i get from this lot. They just pitch up for work daily and wing it hoping things will just work out.