Straight Shorts is a rolling news update service on the biggest stories in racing, wagering and breeding. Racing is mourning Melbourne Cup-winning trainer Mike Moroney. We have details about the Melbourne Cup carnival’s impact on the national economy and there's also the latest on the PointsBet takeover bids.
Racing mourns Melbourne Cup-winning trainer Mike Moroney
Mike Moroney, who trained the 2000 Melbourne Cup winner Brew during a decorated career in Australia and New Zealand, has died aged 66.
Ballymore Stables, the Flemington yard from where Moroney achieved much of his success after moving to Australia in 1999, paid tribute to the trans-Tasman horseman.
“One of the stalwarts of New Zealand and Victorian racing, Michael not only had a special knack with horses, but with people,” a Ballymore Facebook post read.
“He was loved and respected by his staff, his owners, his beloved partner Karen and his family.
“He will be remembered for his kindness, his willingness to share his time, expertise and his passion for the sport of horse racing.
"He was a wonderful father and very proud grandfather, a member of a tight-knit family and circle of friends.
“He was a much-loved member of the racing community and an outstanding conditioner of horses with a host of Group 1 wins, premierships and well-deserved awards."
Brew wins the 2000 Melbourne Cup
After taking out a trainer’s licence in New Zealand in 1981, Moroney moved to Australia eight years later, setting up at Morphettville in Adelaide before shifting his operation to Melbourne.
While he trained Second Coming to win the 1997 Victoria Derby, Brew’s Melbourne Cup victory confirmed his arrival among the upper echelon of Australasian trainers.
He produced a stream of Group 1 horses with Tofane his latest after her win in the 2022 CF Orr Stakes.
Moroney, who battled health issues for the past 12 months, established a training partnership with Glen Thompson at the start of the season and they enjoyed Blue Diamond Stakes day success with Coeur Volante in the Mannerism Stakes.
Racing Victoria chief executive Aaron Morrison said: “Mike’s contribution to racing was immense, both here in Victoria and in his homeland of New Zealand.
"His skill as a trainer is reflected in his amazing achievements and his contribution to the career of others is lauded.
“Mike was popular and respected among his training colleagues and those who had the pleasure of enjoying his company, be at trackwork or celebrating a feature win, always speak glowingly of the experience and his character.”
Further seven racetracks on Racing NSW’s Crown radar
A NSW parliamentary estimates hearing has been told that Racing NSW expressed an interest in assuming the Crown land management of seven additional racecourses as well as the five it was granted management rights over in May last year.
Racing NSW’s role as Crown Land Manager (CLM) of racecourses at Port Macquarie, Inverell, Coffs Harbour, Queanbeyan and Armidale, drew plenty of focus as Lands Minister Stephen Kamper faced inquiries from Upper House MPs in parliamentary estimates this week.
Kamper was asked if Racing NSW had expressed interest in becoming the CLM of any additional racecourses, and initially said he wasn’t aware of any others as those applications may have preceded his time as Minister.
Bren O’Brien
However, Department of Planning, Housing and Infrastructure secretary Kiersten Fishburn later confirmed there had been previous interest from Racing NSW in seven other venues on Crown land, but these had not been put to the Minister.
“They were the Albury Racing Club, the Ballina Jockey Club, Bathurst Turf Club, Clarence River Jockey Club (Grafton), Manning Valley Race Club (Taree), Mudgee Race Club and Murrumbidgee Turf Club, (Wagga Wagga)” Fishburn said.
“But they did not go through as a recommendation from the department to the Minister.”
Study reveals Cup week as huge driver for economy
The 2024 four-day Melbourne Cup carnival has produced record economic figures, a market research report has found.
In releasing details of the IER study, the Victoria Racing Club says Melbourne Cup week accounted for more than $1 billion in national expenditure.
Among other other key figures released by the club, more 11.5 million people engaged with the Melbourne Cup by watching, listening or participating in an activity to celebrate the day.
That represented an increase of 500,000.
The carnival also returned a record $502.4 million in gross economic benefit to Victoria.
It’s estimated 81 cents of every dollar spent on the Melbourne Cup carnival flowed through to benefit the broader Victorian economy.
At its highest level since 2018, the carnival was directly responsible for bringing 68,898 international and interstate visitors to Victoria.
VRC chief executive Kylie Rogers said the Melbourne Cup carnival reaffirmed its status as one of Australia’s most culturally and economically important major events.
“The Melbourne Cup is ingrained in the Australian psyche, and we see that reflected in the fact that more than 11.5 million adults engaged with and celebrated the day, generating a record-breaking national uplift in spending,” she said.
Digital sales topper Caesar Cipher sells to HK interests
Godolphin's Encryption three-year-old Caesar Cipher, a Melbourne-placed gelding, was the highest-priced Lot in the latest Inglis Digital online sale.
Going to Hong Kong interests, Caesar Cipher sold for $140,000 to A Value Consulting's Alan Lee.
The lightly raced Caesar Cipher was one of 10 Godolphin-owned horses sold through the online platform, with the group grossing $460,500.
He was one of five Lots to realise $100,000 or more, joined by a Hello Youmzain yearling ($135,000), Vintage Strike (in foal to Ozzmosis, $130,000), the Group 2-placed Shangri La Express ($105,000) and lightly raced Fun Fashion ($105,000).
Another significant element of the late February sale was a draft of 46 yearlings, racehorses and broodmares from Durrant Racing, which grossed $479,900.
“I was hammered with interest, the phone hasn’t stopped really, they’ve been really well received by the market and there was plenty of interest in them and I thought they sold well overall so you can’t ask for much more than that," Perth trainer Adam Durrant said.
In total, $4.95 million was turned over at the second of the Inglis Digital sales held during February.
BlueBet’s PointsBet offer rebuffed
BlueBet’s significant $360 million offer to secure PointsBet has been rejected by the latter’s board, which looks determined to pursue its proposed acquisition by Japanese-owned company Mixi.
After PointsBet announced it planned to seek approval to seal a deal with Mixi on Wednesday, BlueBet put out its own release detailing its offer for the publicly listed company.
However, PointsBet has described the BlueBet offer, which it received on February 18, as highly conditional.
“The Proposal described a highly conditional cash and scrip offer for PointsBet which BlueBet stated could be valued at between $1.02-$1.09 per PointsBet share,” a PointsBet statement to the ASX said.
“At the time of receiving the Proposal, PointsBet was subject to exclusivity arrangements with MIXI, Inc. in connection with its now announced scheme of arrangement incorporating a fully funded cash price of $1.06 per share for Pointsbet shareholders.”
“The PointsBet Board considered the Proposal and with the input of advice from the Company’s financial and legal advisers, the Board determined that the Proposal could not reasonably be expected to lead to a superior proposal to that announced earlier today from MIXI.
PointsBet said the BlueBet offer was “unfunded, subject to an explicit financing condition, and would require BlueBet to raise $100m in debt and undertake a large upfront capital raising ($160m).”
It said the terms of the deal were uncertain and could materially affect the value ultimately received by PointsBet shareholders.
It also questioned the lack of detail on the synergies which BlueBet had claimed would be incorporated in the value of the deal.
BlueBet has stated it is determined to pursue its offer and said it has been overwhelmed by the support of shareholders of both itself and PointsBet.
BetMakers plots towards profitability
Publicly listed wagering technology company BetMakers has highlighted its progress in platform and technology upgrades as well as its strategic partnership with Sportsradar, confirming it made an EBITDA loss of $1.3 million for the first half of the 2024/25 financial year.
BetMakers is predicting further improvement in its EBITDA position in the second half of the financial year and into 2025/26.
“The first half of FY25 has seen BetMakers make strong progress in executing our strategic objectives, delivering substantial operational enhancements that better position us for long-term, sustainable growth,” executive chair Matt Davey said.
“With a robust business pipeline, a growing customer base, and cutting-edge technology, BetMakers is well placed to capitalise on its role as a leading gateway to the global racing ecosystem, driving revenue growth in the periods ahead.”
Betmakers provides a range of services, including data services, platforms, fixed odds and pari-mutuel wagering solutions as well as content. Its share price lifted from 11 cents to 12 cents on Thursday.
