Spor­ties records loss

Southern Riverina news - - NEWS -

A loss of more than $1.5 mil­lion for the Spor­ties Group in the past fi­nan­cial year is a ‘dis­ap­point­ing’ re­sult, ac­cord­ing to of­fi­cials who as­sure the or­gan­i­sa­tion is mov­ing for­ward.

The loss was noted in the busi­ness’ an­nual re­port, which was dis­cussed at the an­nual gen­eral meet­ing on Oc­to­ber 21.

Chief ex­ec­u­tive Rod Car­mody, who took over the reins in Oc­to­ber af­ter step­ping up from his po­si­tion as chief fi­nan­cial of­fi­cer, said it was the or­gan­i­sa­tion’s first recorded loss in its 35-plus-year op­er­a­tion.

He said the re­sult was dis­ap­point­ing for out­go­ing chief ex­ec­u­tive Greg Ryan and board pres­i­dent Rob Jones.

‘‘Our gam­ing rev­enue ($9,086,337) was down by four per cent and ca­ter­ing was down by five per cent across the group,’’ Mr Car­mody said.

‘‘We also had $700,000 more in de­pre­ci­a­tion, as we reval­ued our as­sets, which in­creased it from $1.6 mil­lion to $2.3 mil­lion, which has definitely had an ef­fect on the busi­ness.’’

How­ever, Mr Car­mody said there were a num­ber of av­enues the busi­ness was tak­ing to mit­i­gate the losses, in­clud­ing the ap­point­ment of a new oper­a­tions man­ager, who is ex­pected to start later this year.

A new head chef also started three months ago.

New point-of-sale and IT sys­tems will also be in­tro­duced as part of making things eas­ier for staff mem­bers and the club will en­gage with more peo­ple through a new tele­vi­sion ad­ver­tis­ing cam­paign.

‘‘We want to show peo­ple we’re still here and what we’ve been do­ing,’’ he said.

The group will also re­view its gam­ing oper­a­tions into the fu­ture to cater for chang­ing meth­ods of gam­ing.

‘‘We’re look­ing at forming a strat­egy for the next gen­er­a­tion as to the way we op­er­ate be­cause we know the way peo­ple are gam­ing is chang­ing, with on­line, etc,’’ Mr Car­mody said.

‘‘We’ll also be look­ing at ca­ter­ing for younger ages across the whole club.’’

The an­nual re­port also notes the or­gan­i­sa­tion is plan­ning to sell 33 of its poker ma­chine en­ti­tle­ments be­fore De­cem­ber.

Mem­ber­ship at the club in­creased dur­ing the past fi­nan­cial year, ris­ing from 376,889 mem­bers to 382,339.

A break­down of fig­ures for each arm of the busi­ness in the re­port shows that Ba­rooga Sports Club noted a profit of $1.46 mil­lion, and a profit of $24,442 at the Ba­rooga Sports Bowls Club.

How­ever, losses were recorded at the Spor­ties Co­bram Ba­rooga Golf Club (-$400,000), Golf Club Mo­tel (-$16,137), Spor­ties Health and Fit­ness Cen­tre (-$164,668) and Ber­ri­gan Sports Club (-$21,144).

‘‘We’ll be look­ing at the oper­a­tions of the group and how we can im­prove with each of the fa­cil­i­ties,’’ Mr Car­mody said.

Long serv­ing mem­ber Ray Nye has re­tired from the board af­ter 33 years’ ser­vice, while Glen Brooks has been ap­pointed pres­i­dent af­ter Rob Jones stepped down.

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