Balmain Leagues Club

Magpie_Magic

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Joined
Apr 5, 2010
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1,952
I remember this you are partly correct you have a licence to hold poker machines and let's say 100 pokies then each individual machine has a licence and a machine licence at the time I think was around 280K and today around 500K the Tigers sold off some machine licences
I was at Wests Ashfield for the extraordinary meeting and from memory Balmain Leagues pokies licences were picked up by Wests but some are fungable like certain Cryptocurrencies lol when you pick them up this way.

So Wests have the licenses .

And for the record I voted yes.
 

batboy

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Joined
Sep 27, 2010
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I remember this you are partly correct you have a licence to hold poker machines and let's say 100 pokies then each individual machine has a licence and a machine licence at the time I think was around 280K and today around 500K the Tigers sold off some machine licences
Well aware of how it works - my dad was in pubs…
And as they’re a club - every 2 they sold, they would need to surrender 1 licence to the government…
maybe even more being in the city?
(I know there was a variation to the rule between metro and country - don’t remember exactly what it was) but pretty sure clubs in the country - had to surrender a licence for every 2 licences sold…

With Balmain, I think they were selling the licences to fund trading - and had loans out, and weren’t telling the lenders they were keeping the debt and selling the assets used to acquire the debt - something dodgy like that…
 
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