You may note too that the aim of NoPE is to get the club to make a meaningful commitment to exit the pokies industry. That is, we understand the club needs to find alternative revenue sources and can’t just unplug all the machines today as much as we believe in the moral argument for doing that!
I think a lot of people hear ‘anti-pokies group’ and throw their hands up and say “well you can’t just get rid of them, we need the money!” In some ways, and certainly not entirely, we’re born out of the frustration that the club had been making public comment about alternative revenue streams to wean off the pokies since at least 2018 yet appear no further progressed.
So as you say, it’s time to deliver on this and make it happen.
That is an Massive Urban Myth. Wealthy blokes and blokettes have kicked in since the CLUB started 150 years ago, but tens of millions is just not true at all.
Which it leases and has only sporting/community related options under the terms of the lease.
They could sell the pokies licences for about $30 million, and invest in commerical property like a shopping centre where returns can be about 10% nett. Still less than what the pokies bring in.
I googled the Victorian gaming and liquor authority site for Essendon. It didn’t show profits, rather player losses, around $3 million per year in recent years IIRC.
What is the recurrent virtue signalling dividend you can achieve by weaning off gambling?
Would it result in the same value of additional memberships as gaming venue profits?
Probably not.
I wonder whether the other clubs like Hawthorn that have dumped pokies were making much out of gaming anyway.
There was an article in the Rage (behind paywall) that the Hawks had a $40 million windfall from its sales.
Profits would have been down during our Covid lockdowns.
Maybe the club could engage EY in a consultancy to sort this out. Value for money, considering its arms length external review role in transforming the club, including the value of its role in regard to recommendations on appointments.
Kate O’Sullivan could take on a role assisting EY, as Dorothy did in the external review l
Most definitely some Covid related figures.
July21-Jun22 was about $10m NGR for 12 months and for Jul22-Dec22 it’s already $8m NGR for just 6 months.
Essendon was averaging about $11m per year not that long ago so it’s increased substantially
Ah, yes, the Dingley project was very very short of funding. The $40M would have been handy, even then, they needed all sorts of government grants to be able to complete anywhere near the grand plan, $150M
Dingley earthworks are going hammer and tongs now.