It just goes to show what can happen with a little bit of back breaking work and an equal dose of elbow grease. A full round of congratulations must be provided for Marcelo Veloz, the committee and even the finance man Mark Cooper.

Who said you were all a collection of imbeciles and useless buffoons?

How did you celebrate your finest moment? A little bit of free champagne just like Guilfoyle? Some French wines, plenty of free food and even more backslapping? We can just imagine the bullshit and propaganda being provided when Veloz was heralding in the new era and the outstanding profit.

Does this sound right?

No, it doesn’t.

Now to the truth.

The profit amounted to $745,000.

The profit was made up of $700,000 from the sale of intangible assets. As members or staff of the club you should be concerned when anything is sold to make or inflate a profit. The reason for this is simple. When something is sold it’s gone, never to be used again.

So what was sold to give the club this mysterious profit? It was gaming machine entitlements, which just proves what we have been saying all along. The committee, Marcelo Veloz and Mark Cooper are all first class, gold medal imbeciles.

By selling these entitlements the club is acknowledging that it cannot generate the revenue through it’s only real source of income producing assets – the poker machines. By selling these entitlements the club is acknowledging that it’s income is dropping because it just doesn’t have the gaming business to drive the larger gaming installation.

If those shonky shitbags who disguise themselves as the committee, the CEO and the financial controller can’t make a profit in such a privileged position as City Tatts is in it just goes to show what a useless, limp, impotent lot they are.

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What happened to Sam Johnson? Remember Sammy? He is the slimy organ grinder at Southern Cross bullshit group. Sammy and Veloz are mates. Remember Sammy now?

So where is Sammy?

What contracts are being lined up for Sam Johnson and Southern Cross at City Tatts? If we were a contractor dealing with City Tatts we would be very nervous because Sam is on the prowl. Veloz wants him because they can perfrom magic together and rob the club through inflated invoicing and simply invoicing for work not performed. Remember the Sharkies, Mr Veloz?

Let us remind you of what Sam and you did together at the Sharkies.

More to come.

The Ferret

 

There was a major medical scare at the City Tatts Annual General Meeting.

That was Francine Binns.

The consensus among the attendees was that, based on her election photo, she has aged 20 years – since April!

At this rate she will look like Jan Ellks by Christmas.

Well, the Wicked Witch role at City Tatts is currently vacant ……….

But, on a more serious note, imagine this twit Binns, now working at the Australian Institute of Company Directors, would rather close her eyes to Marcelo Veloz, when all she has to do is make the short trip to Dooleys Catholic Club at Lidcombe and ask a few simple questions.

And they want more women on boards?

The Committee certainly knew what they were doing when they selected Binns.

Incidentally, speaking of Veloz, he has provided a very good indicator of the respective corporate governance standards of the two clubs:

Booted out of Dooleys Catholic Club, for stealing

But good enough for City Tattersalls Club!

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The more you hear about last week’s AGM the more it’s clear it represents the final repudiation of Tony Guilfoyle – by the same committee that backed him for 12 years.

It’s a bit like Khrushchev’s denunciation of Stalin.

Only, because this is City Tatts, less honest. Because Guilfoyle was never mentioned.

Just about everything Patrick Campion and Marcelo Veloz say they are planning now is the exact opposite of what Guilfoyle did.

Poker Machines

Tony Guilfoyle boasted about having more poker machine licences, and pushed them up to 420. Now Marcelo Veloz is selling them off and says that 250 is plenty.

Restaurants

Cafe 2 was entirely Guilfoyle’s creation. Veloz shut it down.

Esperanto restaurant lost millions during Guilfoyle’s time but he never once suggested closing it – partly because the committee liked it and wouldn’t agree to that. Now that Esperanto is losing less Veloz is closing it – and the committee agree!

Front Entrance

Guilfoyle was obsessed with creating a “grand entrance” and spent millions on a succession of botched attempts at it. Now Veloz has abandoned all that. In a desperate bid for rental income the “grand entrance” has been sacrificed for a TAB and a clothing shop.

What’s next?!!

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We’re getting more reports of what Patrick Campion said at the AGM.

This one’s a beauty!

Campion said to members ” ….. returning the same committee means you accept the need for change”

Yes, he actually said that!

Does he even think about what he says?

He also said “KPMG do a wonderful job“.

Really?

Tony Guilfoyle took $200,000 from the club, totally unknown to the committee, and for years Cameron Roan had no idea.

Then when he found out, by accident, his only action was to suggest that this be mentioned in the accounts so members would know. Even this fairly weak response amounted to nothing – because the committee just ignored him!

So if KPMG are doing “a wonderful job” the question is for who?

Certainly not for members.

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It looks like Marcelo Veloz has the full backing of the committee.

That’s a worry.

Because everything they say about Veloz they also used to say about Tony Guilfoyle. And he was marched out the door!

But there is one big difference this time around – the blogs.

Veloz is scared shitless by the blogs.

City Tatts is probably under more scrutiny than any other club in Sydney. Which means it was a disastrous choice for Veloz, a man who had just managed to rehabilitate himself in the club industry after being on the lam for years following his hasty exit from Dooleys Catholic Club at Lidcombe.

So don’t be surprised if Veloz leaves City Tatts the same way as Guilfoyle.

We’ve seen it all before.

And so has he!

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Maybe the time has come to just accept that Patrick Campion has psychiatric problems.

As one member put it “I know Campion has been granted the title of Chief Liar, and deservedly so, but sometimes it looks like he really believes what he’s saying. But if he does really believe what he’s saying then it’s time for the men in white coats to call on him”.

Why would a member say that?

Well, Campion started the AGM by paying tribute to an aboriginal tribe.

Yes, you heard that right! Patrick Campion started the 2018 City Tatts AGM by paying tribute to some aboriginal tribe. It would be hard to think of a club in New South Wales that has less connection to an aboriginal tribe. This will really attract the Asian market ……. especially on Good Friday.

Campion then told the meeting that recent member feedback had “‘all been positive”. Of course, just like the “positive feedback” he’s been getting from the City of Sydney council on the property development – since 2012. And you know how that worked out. And don’t forget the “positive feedback” he claimed to have received after the Sydney Morning Herald reported his cover-up of Tony Guilfoyle’s $200,000 embezzlement.

Campion felt that a profit of $745,000 was “a commendable result”. No, the operating profit was $45,000 which most people regard as a dismal result for an establishment with 300 poker machines!

And Campion told the meeting that the “new” deal with the developer “captures the increased value” of the club’s site. Well, no. On any rational analysis the latest deal, which is very much like the old deal, delivers the increased value to the developer.

So, Chief Liar or just insane?

You be the judge.

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