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21 May 20 13:56
Date Joined: 14 Aug 02
| Topic/replies: 7,464 | Blogger: adge's blog
after the post yesterday regarding the email sent out by Maurice Lindsay to RDT customers.
this got me thinking
Maurice states that he has been topping up his employees wages which is actually most commendable but if , as he says , their reserve fund is gone which was reported to be towards £300,000.
a rather precarious position when your income is mostly from racecourse bookmakers who are unlikely to be seen until the distant future
But more with AGT who furloghed all but four of their staff at the end of march. those four became two by late april and is now one [ Tim Moore ].......but Tim is on a massive salary by comparison so who is funding AGT now . their reserves were only 50 % of what RDT were reported to have.
AGT income stream is entirely derived from racecourse bookmakers so i fear some large donations will be needed in the next year or so from their pockets
any views from those who know more than me , especially as i'm not an RDT customer or shareholder
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Report democrat May 21, 2020 7:08 PM BST
I think you would qualify with room to spare as a benefactor to AGT adge. How much are you going to contribute in order that you and your fellow bookies can still have the services of AGT when normal service resumes ?
Report adge May 21, 2020 8:26 PM BST
do wonder if they will still be around when we return , democrat...or if many of us will still be around
Report sugarsteve1 May 21, 2020 10:08 PM BST
Hello Adge.  Hello Democrat.
I hope both you and your families are well?
AGT and RDT are no different to you or I.  Will are all in the bracket of businesses at risk.  It will then come down to how big their cash reserves are and when they begin to wobble who they can call on.

RDT could be lucky with the GVC and Desmond connection!  I hope that AGT could secure some sort of Industry/racecourse support?
We will all be missing our most profitable months by the time we return and at this moment in time none of us know what the future will be and also who will return.  There will be casualties only time will tell, who that will be.
To all you boys and girls on the Racecourse, keep positive, things will get better.
Report adge May 22, 2020 12:03 AM BST
just can't see it being this year,steve
and before then we have to face up to the gambling commission holding their hand out too
Report democrat May 22, 2020 12:30 PM BST
Yes sugar the uncertainty of the future is indeed a concern in terms of which 'trade bodies' and indeed oncourse operators will survive or how much they will suffer. The longer the period of 'inactivity' the more vulnerable those involved become. Without doubt when normal service is resumed things will not be the same as before. I support your hopes that things will improve and of course everbody's well being and safety is of tantamount importance. Keep safe one and all.
Report adge May 22, 2020 3:02 PM BST
been told this morning that at a recent NAB meeting it was suggested that maybe the bookmakers might wish to help AGT financially at this time.
would love to know who came up with that suggestion
Report democrat May 22, 2020 3:06 PM BST
You will surely find out adge since you seem to have contacts in all the right places!!
Report Gull1 May 22, 2020 4:27 PM BST
It wasnt suggested that bookmakers bail out the AGT. In the present circumstances, there would be no chance of that.
However, Racecourse bookmakers realy need to  see the AGT survive as the alternative is the racecourse take complete control and no one fancies that.
Report adge May 22, 2020 7:29 PM BST
just a thought , perhaps the FRB could divert some of the media rights funds that they are holding , maybe as a loan even
Report democrat May 22, 2020 9:19 PM BST
I'll second that adge or individual books agree to a scheme whereby they can 'bank' a sum of discounted daily fees in advance perhaps ?
Report adge May 23, 2020 2:31 PM BST
does anyone think we'll be allowed back before 2021 ?
Report ribero1 May 23, 2020 2:57 PM BST
doubtful adge and I wouldn't want to come back with severe restrictions in place,wouldn't work.
Report democrat May 23, 2020 3:26 PM BST
You have ample time to go on another of your world tours adge !! Wink
Report the artful dodger May 24, 2020 9:23 AM BST
Adge, Ribero, I've been reading an article, they think the pandemic will be over by September. Surely, amongst all the recent doom and gloom, there's some optimism?
Report chatto May 24, 2020 9:46 AM BST
Gulf 1,It would be difficult to find any regulator worse than the Agt which has burned money over the last few years.It has been rumoured that the JC or the Levy Board might want to help the Agt but this is complete nonsense The truth is that the Agt was in financial trouble before the current crisis due to its profligately business plan which has never considered cutting costs.Evidence of this was the decision to increase the daily fee in some minor rings in 2020 from £8 to £23.
Report carpet1 May 24, 2020 10:19 AM BST
dont think there will be any mass gatherings in sept this year,
maybe next year
Report adge May 24, 2020 11:40 AM BST
chatto , something they had to do to finance annual wage increases by way above inflation [ for the second successive year too ]
Report democrat May 24, 2020 12:22 PM BST
And how are these increases justified adge ?
Report adge May 24, 2020 6:07 PM BST
not for me to judge , democrat. i'll let others form opinions
Report sugarsteve1 May 24, 2020 8:57 PM BST
Adge, optimistically, I do believe bookmakers will have the opportunity to bet on the racecourse this year.  However, conditions must change considerably from today for it to be both practical and viable.  What it will be like in 2 to 3 months time, none of us know.  I remain hopeful that we will be allowed to bet altho too soon to say whether I will choose to or not
Report swampy117 May 25, 2020 9:09 AM BST
by what percentage will racecourse pitches be devalued by this outbreak .Many bookmakers have made big investments .
Report adge May 25, 2020 1:09 PM BST
waiting for the fire sales to begin , swampy the stockmarket which dipped and has returned a little i'm sure pitch values are down but i'm willing to buy at a price as i'm sure they will recover
Report adge May 25, 2020 1:17 PM BST
from something you said earlier.
i agree that we don't want the racecourses to take over from AGT...but at the same time for an company that is only financed from one limited source would not this be a good time to scale down AGT to a lower financial burden on bookmakers
Report democrat May 25, 2020 4:11 PM BST
'Sure they will recover' adge ? How long will this recovery period be ? A very long time methinks ! Good luck with your bargain hunting - who knows there could be an opportunity for you to return to course/courses in the East of England !! Wink
Report adge May 25, 2020 5:57 PM BST
yes , looking for a cheap top 10 pitch at great yarmouth
Report democrat May 25, 2020 7:24 PM BST
All 10 will be cheap adge !! The September Festival is not the same without your presence and the beer consumption in the pubs is certainly much reduced Laugh
Report adge May 29, 2020 7:57 PM BST
very sad to be told today that popular AGT ring manager Russell Parrott has died . i have no further detail
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