Victoria’s prominent racing clubs are under the spotlight as they navigate the complexities of operating gaming venues. The Victoria Racing Club, known for hosting the prestigious Melbourne Cup Carnival, currently operates a single pokies venue at Flemington Racecourse with no intentions of expanding. In contrast, the Melbourne Racing Club (MRC) manages a substantial portfolio, overseeing 14 hotels and clubs that generate approximately $50 million annually. However, recent developments have raised questions about the industry’s practices.
The MRC has been ordered to conduct a risk assessment of its gambling venues following an incident where a 13-year-old boy managed to play poker machines twice. This revelation, reported by The Age’s Danny Russell, has put the club under increased scrutiny. Furthermore, the MRC was fined an additional $60,000 this year after three venues, including the Peninsula Club and Steeples in Mornington, allowed patrons to use poker machines outside permitted hours on Good Friday 2024.
Moonee Valley’s Strategic Silence
Meanwhile, the Moonee Valley Racing Club, which counts former News Corp executive Peter Blunden among its committee members, operates three financially robust gaming venues with entitlements extending until 2042. Despite inquiries, the club has remained reticent about its future plans, leaving industry observers speculating about its strategic direction.
This development follows a broader trend within the racing industry, where clubs are increasingly scrutinized for their gaming operations. The regulatory landscape is evolving, and clubs are expected to adapt to new compliance standards.
Bill Ireland’s New Venture
In a parallel narrative, Bill Ireland, a former BRW Rich Lister and once-bankrupt businessman, is making headlines with his latest venture. At 75, Ireland is channeling his energy into a new AI-backed financial services business, Equity Risk Exchange. The startup is seeking to raise $2 million in its first round of capital raising, marking Ireland’s return to the financial services sector.
Ireland’s career has been marked by significant highs and lows. He founded Challenger in the 1980s, landing on BRW’s Rich List with an estimated worth of $127 million before being ousted by the Packers. His subsequent venture, Mariner Financial, faced challenges during the Global Financial Crisis. Despite these setbacks, Ireland remains optimistic about his current project, emphasizing its innovative approach.
“There’s some private family money,” Ireland says, declining to name names. “I’m not interested in listing it for a while.”
Barnaby Joyce’s Political Maneuvers
On the political front, Barnaby Joyce, a prominent figure in the Nationals, has been making waves with his recent activities. Known for his outspoken nature, Joyce has captured media attention with his net-zero emissions stance and lively public appearances. However, he has recently stepped away from his role on the University of New England’s Standing Committee of Convocation, a decision that aligns with his focus on political endeavors.
Joyce’s departure from the university body coincides with internal dynamics within the Nationals. Reports suggest he is poised to support Michael McCormack in a potential leadership challenge against current leader David Littleproud. This political maneuvering underscores the ongoing power struggles within the party.
Terence Stamp’s Lasting Legacy
In the entertainment world, the late Terence Stamp, renowned for his role as Bernadette in “The Adventures of Priscilla, Queen of the Desert,” continues to leave a mark. Although Stamp passed away at 87, his legacy endures as plans for a sequel to the iconic film are underway. Writer-director Stephan Elliott has taken steps to ensure Stamp’s presence in the film, utilizing digital technology to capture his likeness.
“They took him into a studio and had him shot from every angle digitally,” says Tim Chappel, the film’s Oscar-winning costume designer.
Stamp’s contribution to cinema remains celebrated, and his potential appearance in the sequel highlights the intersection of technology and storytelling in modern filmmaking.
As these diverse stories unfold, they reflect the dynamic nature of Australia’s cultural, financial, and political landscapes. The racing clubs’ scrutiny, Ireland’s entrepreneurial spirit, Joyce’s political maneuvers, and Stamp’s cinematic legacy each offer a glimpse into the evolving narratives shaping the nation.
