2023 Annual report

[TylerDurden]

 

[A Diakos]

Revenue dwindles to $55 mill compared to past seasons

Profit of $1,4 mill

Net Assets $90 mill

Feel free to discuss

 

[Mitchell Madness]

Revenue dwindles to $55 mill compared to past seasons

Profit of $1,4 mill

Net Assets $90 mill

Feel free to discuss

55mil revenue would be due to noongar being in the pokie game. Profit of 1.4 doesn't include the sale of the pokies venues so I'm ok with it. 90mil assets is huge! No club in the league would be that asset rich (well at least not in melbourne). Every club has leased their facilities. Even Richmond's HQ which is being renovated is being leased. It may be a minimal lease, but they don't own that to allow them to assist with loans etc

 

[Yardie]

Revenue dwindles to $55 mill compared to past seasons

Profit of $1,4 mill

Net Assets $90 mill

Feel free to discuss

Revenue has been this low for the last four years. Difference being that we have lost gaming revenue but been able to increase marketing income.

Profit is lower but we generally have been between $2-5M so not a big concern.

Net assets are well above pre2021 years as we are cash rich.

 

[Ned Ryerson]

Revenue dwindles to $55 mill compared to past seasons

Profit of $1,4 mill

Net Assets $90 mill

Feel free to discuss

Explain to me how this has 'dwindled'.

 

[Yardie]

It really hasn't dwindled - last year spiked due to sale of our pokies venues. You just had to have a stab at the non-Kennett led club somehow didn't you?

No spike in revenue last year (asset sales aren't included in the revenue line). Revenue has been at this level for the last four years and that includes gambling revenue.

And it was Kennett who sold the pokies and left the revenue gap that he didn't fill prior to leaving.

 

[Ned Ryerson]

No spike in revenue last year (asset sales aren't included in the revenue line). Revenue has been at this level for the last four years and that includes gambling revenue.

And it was Kennett who sold the pokies and left the revenue gap that he didn't fill prior to leaving.

Yup - I deleted when I realised that it hasn't even come down since last year - so once again Mr Diakos' bizarre anti-Gowers crusade is completely non-sensical.

 

[Flukey!]

I seem to recall we were a $70m+ business when we had the clubs and pokies.
$55m seems reasonable without them.

 

[Yardie]

I seem to recall we were a $70m+ business when we had the clubs and pokies.
$55m seems reasonable without them.

That is correct. Accounted for $15-20M per year pre-COVID.

 

[Ned Ryerson]

I seem to recall we were a $70m+ business when we had the clubs and pokies.
$55m seems reasonable without them.

Those years we were earning those figures it was a consolidated figure and the financials have another line item stating 'The Club' which were around that $50M mark. I wonder if this is the only column that now appears in the reports. Can't be sure because I haven't studied accounting since year 12.

 

[Yardie]

Those years we were earning those figures it was a consolidated figure and the financials have another line item stating 'The Club' which were around that $50M mark. I wonder if this is the only column that now appears in the reports. Can't be sure because I haven't studied accounting since year 12.

We just do consolidated now. So just ignore "The Club" from previous years.

 

[wahawk]

When does Hawks4Change Ian Silk announce Crown Casino’s profit result?

Who gives a fcuk ?
It’s got nothing to do with HFC.

 

[Ned Ryerson]

When does Hawks4Change Ian Silk announce Crown Casino’s profit result?

Do any of you Kennett sycophants ever post anything of worth?

 

[tommyk72]

When does Hawks4Change Ian Silk announce Crown Casino’s profit result?

Good use of your annual post.

 

[A Diakos]

View attachment 1865963

Explain to me how this has 'dwindled'.

we used to click 70 mill revenue and where in or the top revenue club in the league

we need to get back to or very close to that mark if we want o sustain our position as the second richest club in the AFL long term

if we continue at 55 mill and some other clubs are clicking 75+ mill revenue eventually our position of financial strength will be weakened

 

[Ned Ryerson]

we used to click 70 mill revenue and where in or the top revenue club in the league

we need to get back to or very close to that mark if we want o sustain our position as the second richest club in the AFL long term

if we continue at 55 mill and some other clubs are clicking 75+ mill revenue eventually our position of financial strength will be weakened

How will it be weakened if we remain profitable? There’s a salary cap and footy department cap - it’s not as if clubs are making more revenue than us they can attract players or staff with it because we all play by the same rules. If our facilities are soon to be some of the best in the league who gives a shit if other clubs have more revenue and a better asset base - so long as we are self sufficient and not going backwards. No player is going to go ‘well I was going to sign with Hawthorn until I saw West Coast’s balance sheet!’.

And as others have mentioned the drop in revenue is related to the exit from pokies venues. It hasn’t dwindled it has done exactly what would have been forecast when the previous board approved the sales last year.

 

[Yardie]

we used to click 70 mill revenue and where in or the top revenue club in the league

we need to get back to or very close to that mark if we want o sustain our position as the second richest club in the AFL long term

if we continue at 55 mill and some other clubs are clicking 75+ mill revenue eventually our position of financial strength will be weakened

I'm sure that the current regime are working on getting out of the mess that Jeff left us in.

 

[A Diakos]

I'm sure that the current regime are working on getting out of the mess that Jeff left us in.

financially we weren't left a mess

u can argue he left a mess the EGANreportgate but not finances

 

[A Diakos]

How will it be weakened if we remain profitable? There’s a salary cap and footy department cap - it’s not as if clubs are making more revenue than us they can attract players or staff with it because we all play by the same rules. If our facilities are soon to be some of the best in the league who gives a s**t if other clubs have more revenue and a better asset base - so long as we are self sufficient and not going backwards. No player is going to go ‘well I was going to sign with Hawthorn until I saw West Coast’s balance sheet!’.

And as others have mentioned the drop in revenue is related to the exit from pokies venues. It hasn’t dwindled it has done exactly what would have been forecast when the previous board approved the sales last year.

the landscape and competition could be different in 20 years

things change

remaining a financial power house and being at the top of the tree is important

 

[Ned Ryerson]

financially we weren't left a mess

u can argue he left a mess the EGANreportgate but not finances

Financially we aren’t presently a mess. The finances are a continuation of last year’s - remind me who the president was then? Your beloved ex-President and his mostly hand-picked board approved the venue sales. Your quest to continually attack Gowers is honestly getting tiresome.

 

[Yardie]

financially we weren't left a mess

u can argue he left a mess the EGANreportgate but not finances

That's the point, we've maintained the same level as Jeff left us. If Gowers is incompetent due to the financial statements then so is Jeff. You can't have it both ways.

 

[Mr Lizard]

I will buy a membership and some merchandise, that will help

 

[wahawk]

we used to click 70 mill revenue and where in or the top revenue club in the league

we need to get back to or very close to that mark if we want o sustain our position as the second richest club in the AFL long term

if we continue at 55 mill and some other clubs are clicking 75+ mill revenue eventually our position of financial strength will be weakened

I think you are confusing revenue with profit.

By your figures we are down 20mill in revenue but somewhere between 1/2 a mill & 1mill in profit, depending on the year you want to choose your figures from.

Revenue is important but profit is more important

 

[CheesePritchard]

Good use of your annual

Who gives a fcuk ?
It’s got nothing to do with HFC.

Ian Silk was put up as the “anti-pokies” candidate by Hawks4Change and then after being appointed took a job at Crown Casino. Happy to catch you up @wahawks or at least get you 3 hours behind us on the Eastern seaboard. I’ve recorded your education and “tommyk72” education as a profit on my annual statement

 

[wahawk]

You haven’t told me anything I didn’t know
But as I said when it comes to Crowns profit, I could not give a fat rats flying ass what it is, nor do I care who holds the top job

I might be 3hrs behind you but I do know that pokies, casino, gambling is legal in Victoria.

While I have no issue with gambling, as I do not gamble, I didn’t particularly want HFC being directly involved in it.