Maitland Leagues Club will have a chance to thrive without merging with another club.
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Board members unanimously accepted an offer from gaming company Tabcorp Gaming Solutions on Wednesday night to enter a partnership that is expected to save the club from financial ruin.
Former football club president and board member John Thomas said news of the partnership with TGS was as big as the Pickers winning a premiership.
“The little man on the pumpkin will still be around for a long time yet,” he said.
TGS will lease the club’s gaming machines for the next five years as well as give the board money and expert advice to upgrade its facilities to attract more patrons. Upgrades will include a refurbished gaming floor and bistro, a new sports bar, and major renovations to the upper level.
Club president and chairman Ken McGregor said the partnership meant the board would remain in control of the club, which would not happen had a merger occurred.
He said work could begin to refurbish the gaming area within a month, if the club’s bank and legal team signed-off on the deal.
“We’ve looked at all sorts of options,” Mr McGregor said. “I’m confident this will pull the club out of the doldrums and put us back on the map.”
The move from TGS comes after Maitland City Bowls, Sports and Recreation Club lodged an expression of interest to merge with the club.
Maitland Leagues Club recorded a $345,882 loss in 2013, a $57,864 profit in 2012, and a $137,577 loss in 2011, according to publicly available financial records.
TGS, a subsidiary of Tabcorp, partners with more than 170 clubs in Melbourne.
It recently entered the NSW market and signed similar agreements with Kogorah RSL Club and Auburn Tennis Club.
TGS new business manager Jay Riddle said the proposal was an opportunity for Maitland Leagues to build on its strong brand in the community and invest in facilities and infrastructure for its members.
“We provide solutions for venues and work in partnership with the board and management to bring these opportunities to life,” he said.
“Areas of focus in the venue will include refurbishment of the gaming room and bistro, supported by the introduction of a state-of-the-venue loyalty system to reward patrons of the club.”
Neither Mr Riddle or Mr McGregor would say specifically how much money the club would reap from the deal.