Trading Update
After a slow start in January, trading momentum has built throughout the quarter and I am pleased to say that Gaming has improved month on month. I also note that our restaurants have traded solidly throughout the quarter with members taking advantage of the membership renewal promotion. Another positive outcome has been the substantial reduction in creditors throughout the quarter. All bank covenants have been met. We are looking forward to an even stronger quarter as Winter approaches.
Annual General Meeting
Don’t forget that the Club’s Annual General Meeting (AGM) will be held in the Celebrity Room on Tuesday 21 May 2013 at 6:00pm.
If you are able to attend, please do so. The Club’s Annual Report and Statement of Accounts for 2012 and the outlook for 2013 and beyond will be presented.
The Business of the 2013 Annual General Meeting is also advertised in this magazine.
Life Members Lunch
As usual, a resolution will be put to members at the AGM to elect new Life Members with 40 years continuous membership. If carried, a celebratory lunch will be held for those 231 new Life Members in the Celebrity Room on Friday 24 May 2013 at 12:00pm. At the lunch, Life Member badges will be presented.
This is always a wonderful occasion and our opportunity to recognise and thank those members for their loyalty and support over many years.
Committee Elections
The Committee elections will be held in May 2012. This election will again be determined by a postal ballot and the results will be announced on Friday 24 May 2013. I urge all Gold, Silver and Life members to cast your vote.
The nominations for the 2013 Committee Elections close at 5.00pm on Friday, 26 April 2013. The notice in respect of Committee elections was published in the previous edition of the magazine.
Office of Liquor Gaming & Racing Investigation
I am pleased to advise that the Office of Liquor, Gaming & Racing (OLGR) investigation has been completed. We were always confident that there would be no adverse findings against the Club, the Chief Executive Officer, Mr Tony Guilfoyle, or anyone associated with the Club, and this was confirmed when we were advised that OLGR intended to take no action and considered the matter finalised.
This puts to an end this expensive and time-wasting distraction.
New Banking Arrangements
As you will be aware, since the global financial crisis banks have been tightening their security. National Australia Bank (NAB), with which we had banked for many years, made it clear to us earlier this year that it intended to extend its security from a mortgage over 194 Pitt Street to a charge over all the Club’s assets.
The Committee considered it prudent to explore what other banks might offer and we received an extremely attractive proposal from ANZ Bank. This offered us lower interest rates, less restrictive covenants, improved flexibility and certainty in return for a charge over the Club’s assets.
Consequently, the Committee resolved in February 2013 to transfer the Club’s banking arrangements to ANZ Bank from NAB. This change has allowed us to undertake the gaming upgrade which eventually should increase revenue.
We look forward to a long and rewarding relationship with ANZ Bank, and thank NAB for its past support.
Gaming Upgrade
Members will have noticed some new poker machines on the gaming floor.
Over the next several months, more new machines will be introduced as part of an overall fleet upgrade.
In addition to the new machines, the Club has purchased the ticket in/ticket out, card in/card out gaming system bringing the very latest gaming technology to the Club. Members will have the full benefits of this in late May 2013.
Airspace Development Update
The application for the Sydney City Council’s pre DA Advice is likely to be lodged in June 2013, rather than May 2013. You will appreciate that the application is a complex document involving the collaboration of many different disciplines. It is however, progressing satisfactorily and I will continue to update you on a regular basis, including at the upcoming AGM.
We will shortly be contacting key Club stakeholders to obtain their input on behalf of the various subsidiary Clubs.
Boonoona Ski Lodge Bookings
There are still vacancies at Boonoona Ski Lodge, but be quick.
All Gold, Silver and Life Members have access to City Tattersalls Club Boonoona Ski Lodge located at Perisher Valley in the beautiful Kosciusko National Park. The Lodge is conveniently located only moments away from the Skitube Terminal, Lifts and Perisher Centre.
Book now to experience an an exciting ski holiday for unbelievable value this winter.
For more information see page 12-13 or call the Customer Service Centre on 02 9267 9421.
Clubs NSW Chef’s Table Competition 2013
Once again two (2) Chefs from our Club have been recognised for their exceptional skills in the kitchen as part of a state-wide hunt to find the best club chefs.
Mr Julian Leather and Mr Ciarian Faherty were selected as one of fifteen (15) teams to reach the finals of the Clubs NSW 2013 Chef’s Table competition. Together they created an innovative and enticing three (3) course menu which will be showcased in the Esperanto Dining Room after the final event.
The ‘Chef’s Table’ competition was created by Clubs NSW to recognise the many talented chefs, cooks and apprentices in clubs across New South Wales.
We wish them the best of luck in the competition this year.
Rule Changes Proposed by 13 Members
The Committee has recently received a written requisition by thirteen (13) members for the Committee to convene a General Meeting for the purpose of considering resolutions involving Club Rule changes.
The requisition sought a total of eight (8) Rule changes. Legal opinion received by the Committee was to the effect that only three (3) of the eight (8) proposed Rule changes were appropriate to be put to the members for voting on. The Committee has resolved that these three (3) proposed Rule changes will be put to members.
Please see the Notice of General Meeting in this magazine giving full details. The voting will be by postal vote. The voting papers will be accompanied by short submissions for and against the proposals. The Committee will not be supporting any of the three (3) proposals.
Conclusion
I ask all members who can make it to take the trouble to come along to the AGM in May, as the Club may be entering a very exciting phase. I also encourage all members to participate in the postal elections for Committee in May 2013 and in respect of the proposed Rule changes sought by 13 members in June 2013.
Patrick Campion
Chairman
City Tattersalls Club
