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MagpieBat
Joined: 27 Nov 2010
Location: Brooding in a cave... somewhere... maybe...
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| Post subject: Quitting pokies: Collingwood selling machines to the MRC |  |
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| Quote: | Collingwood exit gaming industry after agreeing to sell poker machines to Melbourne Racing Club
GLENN McFARLANE, Herald Sun
July 17, 2018 1:06pm
Subscriber only
COLLINGWOOD has become the latest AFL club to pull the pin on its pokies operations, agreeing to sell its lucrative machines to the Melbourne Racing Club.
The Magpies will offload their two gaming venues — The Club in Caroline Springs and The Coach and Horses in Ringwood — along with their 156 machines which brought in more than $7 million in the six months to December last year.
It is part of what the club calls “a complete and immediate exit from the gaming industry” as part of a strategic repositioning of the Collingwood Football Club following a complete review of the club’s operations late last year.
BOLD CALL: MELBOURNE SEVER TIES WITH POKER MACHINES
POKIES: AFL CLUBS WIN AS GAMBLERS LOSE BIG
GAMING: HAWTHORN URGED TO WITHDRAW FROM GAMING INDUSTRY
President Eddie McGuire called the sale — which will be finalised in October after all the regulatory approvals have been obtained — “a prudent commercial decision, one that will strengthen the Collingwood balance sheet significantly.”
“The forensic review of the entire Collingwood operation last year, and the ‘Forever’ blueprint which came out of it, gave us greater clarity and a renewed sense of purpose but also identified numerous opportunities.
“The decision of the board to sell our gaming operation and some of our hospitality interests will allow us to intensify the focus on our core responsibilities — Collingwood fans, elite sporting performance and community — but also enable us to pursue new and different possibilities for growth.
“Collingwood is in a strong financial position, with net assets of $32 million, and with the continuing support of its members will be in an even stronger position with this sale. It is the right time for Collingwood to be making this move.”
It’s a move that will delight the AFL, and in particular chairman Richard Goyder, who has made it clear to AFL clubs he would prefer them to focus on alternate ways to boost their revenue.
It follows on from Melbourne, which has committed to selling its poker machines by 2022, while Geelong are also looking at exiting from their operations.
In contrast, Essendon are in the midst of trying to renegotiate its lease with the City of Melton at the Melton Country Club beyond 2022.
Collingwood has made many millions of dollars from their gaming streams, with their $12.2 million from their operations in 2016-17 making them third in the AFL behind Hawthorn ($23.3 million) and Carlton ($17.6 million).
The Magpies will still operate its Glasshouse function and events business at the Holden Centre, though there is no gaming operation at the Glasshouse.
The club has also ceased operations of its Magpie Millions lottery at the start of this financial year.
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https://www.heraldsun.com.au/sport/afl/teams/collingwood/collingwood-exit-gaming-industry-after-agreeing-to-sell-pokies-machines-to-melbourne-racing-club/news-story/11b362e37da8ae990d3fc84ff37cad1b
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I am vengeance. I am the night. I am MagpieBat. |
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WhyPhilWhy?
WhyPhilWhy?
Joined: 09 Oct 2001
Location: Location: Location:
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| Quote: | | new and different possibilities for growth |
This should be fun... |
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stui magpie 
Prepare for the worst, hope for the best.
Joined: 03 May 2005
Location: In flagrante delicto
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Well that's $12M pa we need to get from somewhere else
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Every dead body on Mt Everest was once a highly motivated person, so maybe just calm the **** down. |
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Leggie 
Bucks for PM.
Joined: 12 Apr 2005
Location: Perth
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For a second there I was wondering what the Match Review Committee would want with all them pokie machines. 
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Bring Back Tranquilli |
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Dave The Man 
Joined: 01 Apr 2005
Location: Someville, Victoria, Australia
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Hope this does NOT Mean that Memberships come more Expensive
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I am Da Man |
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MagpieBat
Joined: 27 Nov 2010
Location: Brooding in a cave... somewhere... maybe...
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I am vengeance. I am the night. I am MagpieBat. |
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David 
I dare you to try
Joined: 27 Jul 2003
Location: Andromeda
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Good, though still feels dirty to be making money off them through the sale. We’re basically just washing our hands of them so somebody else can use them to exploit the vulnerable. Truly a charming industry.
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All watched over by machines of loving grace |
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K
Joined: 09 Sep 2011
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| In terms of addiction and damage caused, where do pokies rate compared with other forms of gambling, such as sports betting? |
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stui magpie
Prepare for the worst, hope for the best.
Joined: 03 May 2005
Location: In flagrante delicto
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^
I don't have data but I reckon on line betting will be gaining with a bullet.
I don't have a big problem with pokies, I do with the constant advertising of online gambling, they make it too easy to lose your money.
A small number of people get addicted to pokies and ruin their lives. Replace the word 'Pokies' with alcohol, drugs (prescription or otherwise, fast food, sugar, etc and the sentence still is true.
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Every dead body on Mt Everest was once a highly motivated person, so maybe just calm the **** down. |
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Albert Parker
Joined: 13 Dec 2012
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Spoke to Ed about this at the pre-season review. Glad to see it has come to fruition.
If the Pies on field performance remains so competitive, they won't miss the pokies proceeds, particularly after reinvesting the sale proceeds.
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One team, one dream - the Pies and this year's premiership |
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perthmagpie
Joined: 27 Mar 2004
Location: Yarrawonga
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Good news except how do we replace the net revenue?
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Magpies love pies(Lol) |
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Presti35 
Dick Lee for Legend Status
Joined: 05 Oct 2001
Location: London, England
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| perthmagpie wrote: | | Good news except how do we replace the net revenue? |
Every Collingwood supporter should sent $1 to the club.  There's 12 million of us right?
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A Goal Saved Is 2 Goals Earned! |
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masoncox
masoncox
Joined: 31 Aug 2015
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Stupid decision.
But fits well with the puritans. |
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K
Joined: 09 Sep 2011
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| Presti35 wrote: | | perthmagpie wrote: | | Good news except how do we replace the net revenue? |
Every Collingwood supporter should sent $1 to the club. There's 12 million of us right? |
Eddie should send $12m to the club. There's one of him, right? |
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swoop42
Whatcha gonna do when he comes for you?
Joined: 02 Aug 2008
Location: The 18
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| stui magpie wrote: | | Well that's $12M pa we need to get from somewhere else |
Yes and that's the kicker.
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He's mad. He's bad. He's MaynHARD! |
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