Wellington Trotting Club beginning to cut costs

Press, 16 August 1985, Page 11

Wellington Trotting Club beginning to cut costs

PA Wellington The Wellington Trotting Club has made major progress in cutting its running losses.

At the club’s annual meeting at Hutt Park on Wednesday night it was reported that for the year ended June 30 a net loss of $1536, with provision for depreciation of $43,071, had been recorded. This was a marked turnaround from the 1983 financial year when a loss of $66,000 was recorded and from last year when the loss was $31,000.

The club president, Terry Killalea, said this year’s result was reasonable in light of decreased on-course turnover.

“When one takes into account that the club’s oncourse figures are down by $336,821, which reflects a loss of totalisator commission of approximately $33,000, members can estab-

lish that the year has in fact been pleasing,” said Mr Killalea. “Had our on-course figures remained as for 1983-84 our balance sheet would have shown'a profit in excess of $30,000.” On-course turnover last season was $2,758,802, while off-course betting was up $331,742 to $8,124,163. Gatetakings for the season were down $11,669 on the previous year. The enclosure of the public stand was likely to improve attendances, Mr Killalea said.

The club patron, Mr Roy McKenzie, the owner of Roydon Glen, has pledged $lOO,OOO of the horse’s stake winnings to the venture but another $250,000 is required.

The additional finance was being sought from the New Zealand Racing Authority.

Members were told last night that due to increased

subsidies from the racing authority stakes will rise but the difficulty of attracting visiting horses still remained. “With the Auckland Trot-

ting Club offering $4500 for maiden pacers as opposed to this club’s stake of $2700, members can see the difficulties that will arise in the future,” Mr Killalea said.