Friday, 19 February 2010

Who Gets The Coach & Horses Pokie Money?

In honour of the Pies last night loss in the NAB Cup, it's a good time to look at who is making the $$$ from their Coach & Horses pokies club in Ringwood. My guess is that their landlord, the 75% associated Woolworths, ALH Property Group is making the big money. Let's have a look at the details.

Click here for the PokieWatch.org web page for The Coach & Horses where you can find links to the VCGR web site and all of these Community Benefit Statements.
Click on any of the statements below to enlarge and read the detail.

2005

Employment expenses published as $719,650. Property rental - $242,153. Dividends paid to sporting club of $152,620.2006
Employment expenses published as $605,703. Property Rental - $178,568. Dividends paid to sporting club of $137,421.2007
Employment expenses published as $560,154. Property Rental - $118,552. No dividend to any sporting body.2008
Employment expenses published as $670,127. Dividends "proposed/paid" of $131,799. Does this mean that nothing may have been paid? Property rental of $193,057.2009
No rent is payable but salaries soar to $908,278. Both Property rental and dividends paid to sporting body disappear.
While I'm not suggesting illegal activity, there are inconsistencies in this venue's accounting for the public benefits it's pokie gambling bestows upon Victorians. Same items vary widely from year to year. It seems like the largest recipient is the Woolworths joint venture.

If you accept the premise that The Coach & Horses looks like a pub, operates like a pub, significant revenue for Victoria's largest pub owner, and should therefore be taxed like a pub; then lets calculate the Victorian pokie tax breaks it has been enjoying and the revenue we have been missing out on for the last 4 years:

2005/06 pokie losses were $5,011,142 at 8.33% tax break was $417,428
2006/07 pokie losses were $5,157,999 at 8.33% tax break was $429,661
2007/08 pokie losses were $5,320,449 at 8.33% tax break was $443,193
2008/09 pokie losses were $5,337,597 at 8.33% tax break was $444,622

A staggering total of $1,734,904 in tax breaks over 4 years.

Just think of the kid's footy clinics, extra hospital beds or any manner of true public assets that could have been Victorians from these gambling losses.

And never forget that an estimated 40% of pokie losses are sustained by problem gamblers and the harm these dangerous machines cause. And how quick, easy and inexpensive it is to fix by the Minister regulating the $1 button push / $120 per hour loss limit /$20 cash acceptor solution.

Eddie McGuire, Gary Pert, Tony Robinson, John Brumby, Michael Luscombe, and James Strong should all be ashamed of themselves.

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