2015-2016 Annual Report

Chairmans Report

max-laughton

Max Laughton OAM President | Chairman

As Chairman of Penrith Paceway I would like to report on the past financial year.

2015/2016 has been a major year for the Paceway with upgrades to Track Lighting and a new Stable Complex.

The Stables were officially opened in November and named in honour of Director Don Clough.

I am sure the new facilities are appreciated by all of our racing participants.

Our new cafe opened in March this year and is being well patronised by our Club Members, their Guests along with racing patrons.

This year has most certainly seen some major upgrades with the sum of $2.5 million being invested in the infrastructure. We will be looking to recoup some of our expenditure over the next financial year, and welcome our new neighbours Hogs Breath as our new tenants located on the Cnr Ransley Street and Mulgoa Rd replacing what was our Paceway Function Centre.

After a very busy year of upgrades to the Paceway and Club I do have to report a loss this year of $202 314 before depreciation.

Th ePaceway are looking into the future with further upgrades to the Paceway to build the revenue stream to strengthen the viability of the Club well into the future.

One again I would like to give an overall thank you to our Managers and to all staff for a job well done.

I would like to say thank you to our CEO Lorraine Pozza and to my fellow Directors for their support during the year and look forward yo working with them in the year ahead.

Thank you once again to our loyal Club Members

club-paceway-chairman

Max Laughton OAM
President