A higher operating profit than the Premiers…this Club is flying off field.
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I thought it was higher than the Tigs. That’s absolutely massive
I had a look at the financial report and gaming revenue and profit is conveniently summarised under venue revenue so we have no idea how much the club sucked out of the Melton economy with our pokie machines.
Would love the club to get on the front foot and 1) disclose gaming revenue, costs and profit and 2) use this opportunity of great positive cash flows to exit ourselves from relying upon gaming revenue.
The Melton Country Club needs to be floated off into a community owned club with no EFC ownership whatsoever.
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~20% increase in revenue is huge. We would have to have the highest revenue in the comp I would think.
Anyone know our operating profit in 2000?
Don’t remember it being more than 5 mil.
Hi! I can’t say a whole lot - for obvious reasons - but rest assured that out ambition is to move away from a reliance on gaming revenue.
We are actively looking for new revenue streams to replace the revenue. That is not a hollow sentence, I assure you.
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What a result! What a club!
I think the upcoming board election nominations really should be an obvious choice for us members. I can’t see any need to change the course we are heading in right now. The club and board are top notch.
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Even after 3 flags the Dawks could only record a 4 Mill profit.
Tigers only got 3!
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A more detailed breakdown of the various revenue streams might be useful in future, so progress towards this really worthy goal can be monitored and the scope of the issue (and the hurdles to be overcome) more clearly understood by the wider membership base.
Also, Ive asked this before of various club reps and never gotten an answer: does EFC claim the operating costs of its gambling venues as ‘community benefit expenditure’ in order to qualify for the tax breaks that kick in once you spend 8.33% of a venue’s revenue on such benefits? It was reported a while back that some clubs do this, but it seems a massive rort and contrary to the intent of the law to me.
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Can you just stay around as a Essendon communicator when your time is up with the board?
It’s so refreshing to get honest, direct and responsive feed back from within the club.
Rather then the usual wall of silence/PR speak.
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Solved!
15% finders fee thanks!
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That’s a government issue. Not a club issue, if there is a tax loophole the club should use it like everyone else.
If the government is incompetent enough to allow such a loophole then imagine what they do with your hard earned tax dollars!
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Just because an immoral, destructive thing is arguably not technically illegal doesn’t mean you should do it.
Which is the entire reason why the club wants to get out if the pokie business in the first place.
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Buy a plane and call it FARK CARLTON, park it in the hanger. Good thanks
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I’m sure you tell your account “no I WANT to pay more tax!” When your accountant suggests your eligible for a tax cut.
I agree with the pokie sentiment in general though.
I’ve knocked back very well-paying job offers in the pokie industry. Certainly offers that would have earned me more than I’m paid now. My money is thoroughly where my mouth is on this one.
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As do I. I’d be over the moon if we were pokie free.
The revenue stream has to be replaced, that’s just common sense. I’m confident they’re working hard to do just that.
ASADA/WADA related costs
2016: 4,921,584
2017: 405,577
that there makes a massive difference to our bottom line.
To have a 5 million profit after dealing with the ASADA/WADA costs, but also getting ourselves a state of the art training facility over the last 4-5 years is a fantastic effort. The saga happened, and we move on, but you wonder how better off we’d be financially if it never happened. The future is very very exciting.
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Essendon has plenty of money, and plenty of influential supporters with deep pockets. Don’t wait to replace the revenue while more lives are destroyed. Get out now.