Endeavour Group EDV peaked at $8.38 and is now $4.37 per share. The price is under further pressure due to changes coming into the Victorian market. It doesn’t look like a great investment.
It’s not the clubs job to entertain your views exclusively. The club doesn’t want to get rid of a revenue stream (you do !) If you want it to happen - come up with an alternative.
Weird melt, I don’t work for the club buddy
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I didn’t suggest that you did work for the club. I suggested that you want to get rid of the pokies! Either come up with an alternative source of revenue or don’t expect the club to get rid of pokies.
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That’s the club’s job, not mine
We went over this
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I hope the club invests in more pokies. It’s a great revenue stream.
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Or maybe invest in the football team and make money from on field success. I know it’s a novel idea, seems to work for other clubs.
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You are suggesting that the club gets rid of pokies when there is no evidence that they wish to be rid of them. I suggested that if you want the club to get rid of pokies the needs to be an alternative revenue stream identified and you are then suggesting that identifying that revenue stream is the clubs job. Why? If they don’t want to rid themselves of pokies, why would they be looking for an alternative revenue stream?
Have the club considered selling drugs instead?
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That is not a sustainable model.
Alcohol is served at games. People need to get over this ■■■■.
More pokies is better.
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The club says in its statement on the resolution that it is opposed to an untimed exit. So doesn’t this imply that it is looking at a timed exit?
And I don’t see why @Drapersmullet needs to find alternative revenue, surely the club has the infrastructure to do this - isn’t Mark Bolton employed by the club to find alternative revenue opportunities?
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This argument of pokies/no pokies fascinates me. Neither side is particularly wrong in their arguments (except those that are being deliberately provocative).
In part it depends on what you believe Essendon Football Club represents, and what their priorities should be. Those on the no pokies side reflect on the origin of the club, the fact they have long represented their suburb, wider community and supporters in playing a sport to the best of their ability and where possible win games and ultimately premierships. The club is a reflection of the values of the community they are part of.
The more modern view seems to be that we are now a professional organisation with a need to generate large and potentially diverse revenue streams to support success on field. Where those revenues come from is incidental, as long as they are technically legal. This leads to a view that moral or ethical considerations are secondary, and can be excluded if the revenue is generous enough.
It’s not incorrect to point to pokies being legal and regulated, so as long as we follow the rules of engagement we can enjoy the benefits of owning them. It’s also not reasonable to question whether a sporting club with members, carrying the name of a suburb it’s represented for 150 years should engaged in revenue generation by means long assessed as immoral and taking advantage of the most vulnerable in that same community (or taking money from far off communities, like the vulnerable in Melton).
Personally, I don’t have a problem with some pokies, but to suggest any business can’t generate returns on equivalent investments and we are stuck with pokies is being facile, and I would far prefer if the club actively planned getting out of that disgusting game than simply sticking rigidly to it.
I have no view of constitution amendments, motherhood statements, or vague intention indications. It would be great if there was a clear plan from the board to become financially strong that also included moving out of pokies. If you want to keep them in the mix, more power to you, you’re entitled to your view.
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What I’ve failed to hear from anyone on the NoPE side of this debate is what do you think will happen once EFC sells it’s Pokie licences/ venues.
The Pokies will still exist, that revenue just goes to someone else yet the same “blight” on society remains.
Where’s the so called community benefit then?
The government takes taxes from all manner of vices ranging from gambling, alcohol, tobacco etc. Where do people think the public funding for hospitals, schools, roads, police partially come from?
Until there’s a broad stroke ban on Pokies then there’s absolutely zero community benefit in AFL clubs virtue signalling a stance regarding the so called evils of Pokies.
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It seems to matter to them that Essendon is not involved in pokies.
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But we can put our hand out for government funding so long as the pot is laundered enough that the amount of money raised from taxes on Pokies isn’t quantifiable.
People are living in a dream world.
What about anti-aging clinics?
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To me it’s a simple situation. Essendon currently hasn’t the financial position or performance to exit without the addition of new non football income / profit contributors. If, when it secures this it can exit as far as I’m concerned.
For me, it’s not about EFC fixing society in ways that no one else has been able to. It’s as simple as not wanting my club’s ability to exist and be successful to be dependent on something that has such a negative impact on vulnerable people, especially considering other clubs in our industry have already managed to transition away themselves.
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Why is it not able to sell the position in the pokies (subject to following any regulatory rules) and use the windfall to invest in anything else that does generate revenue. God, even an ANZ Plus account gives you 5%. Would love to know the return on the pokies.
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