Reduce reliance on gaming? – It’s a joke!

One of the idiotic reasons given by Tony Guilfoyle to justify his property dream was that it would “reduce reliance on gaming”.

To do this he thought the best way would be to build a 48 storey tower, with 200 apartments, a hotel, shops, underground car parking including car lift (all fully fitted-out ready for use) – while leaving the Club with the same floorspace but as a bare concrete shell, and without the money to fit it out.

And what is the end result of all this construction (or destruction)?

Yes, revenue from gaming is projected to fall from 77% to 70% !!!

That’s right, 7%. So you know the whole property plan is a rort.

And that’s with his bodgy figures, it’s probably not even 7%.

Actually what really reduced the Club’s revenue from gaming was driving away more than half of the membership in the last 10 years.

City Tatts Information Desk


Money from China – How will James Kennedy cope?

If you are a regular reader of this blog you will know the name James Kennedy from KPMG and Jones Lang LaSalle (no relation to John Kennedy BSF).

He was supposed to be an “independent” watchdog checking the “corporate governance” of the Club’s dealings with property developers.

In fact his real function was to provide the appearance of honesty to stop members from asking too many questions about the development.

So for example, when Mirvac walked away in October 2014, his contribution at the meeting was to tell members “the Club can move forward without hesitation”. That kind of nonsense is obviously nothing to do with corporate governance and just proves that he was part of the propaganda effort.

In other words, he was a complete fraud and we exposed him long ago.

Now we hear from Four Corners that the latest would-be City Tatts developer is in China trying to raise the money to start the project – by tapping into the contacts of his billionaire father, Boliang Mai.

This reminded us of something else Kennedy said at the same meeting: “The Club has a well tested corporate governance structure and processes …”

That was already a joke back then but it’s just got funnier.

With all this new money coming from China you have to wonder how Kennedy’s “well tested corporate governance structure and processes” will cope?

City Tatts Information Desk


City Tatts Development – The Chinese Communist Party will put up the money!

With Tweedledum and Tweedledee making decisions, City Tatts has become Comedy Central.

Before those two clowns started meddling, the Club had thrived in the centre of Sydney for 100 years – with it’s own building owned free and clear.

Now, according to Four Corners, a spin-off from a Chinese Communist Party controlled group, called Sino-Ocean Land is going to put up the money to build the airhead development at City Tatts!

We knew Tweedledum and Tweedledee were desperate but this is ridiculous!

But it does confirm what everyone suspected after Mirvac walked away – no reputable Australian developer will touch City Tatts. When they started out at least 10 major developers in Australian would have taken it on, with another 10 banks, lenders and pension funds willing to fund it.

What makes the Chinese angle even funnier is that the City Tatts Committee (at least those from the gym) always hated that Jimmy Chen, the only Chinese, made it on to the Committee. And when he had the audacity to run for Treasurer (against the Committee’s annointed candidate, Paul Cavallaro) Laurie Coy was so incensed he called Jimmy Chen a “Chinese C**t” !!!

Incidentally, in case you are wondering, Jimmy Chen had no involvement in the selection of the Chinese developer. Which is normal – since he has no involvement in any other financial decision in the Club.

City Tatts Information Desk


Balmain Leagues Club – A warning for all clubs

Balmain Leagues Club is in the news again, because of the ongoing problems with the property development on it’s site. There was a story about it in yesterday’s Sydney Morning Herald.

The developer is taking his case to the NSW Land & Environment Court because the council have not approved his development application.

The key point for club members is that, unless the DA is approved by the end of November, Balmain Tigers will lose the right to return to their home. Apparently, the developer might “consider” extending the timeline.

The last thing any club needs is to have it’s destiny subject to the discretion of a property developer.

This is a reminder for all clubs of what can happen when you hand the future of your club to a property developer.

City Tatts members, take note.

Still, the developer got one thing right. He said ” everything has to come to an end at some point”.

Yes, and when it involves a property development on a club’s site, usually it’s the end of the club.

City Tatts Information Desk


Who will pay to operate a restaurant at City Tatts?

Tony Guilfoyle and Patrick Campion keep coming up with crackpot schemes to con members into approving their property development.

The latest nonsense is that they are going to sub-contract some of the restaurants in the Club.

This is strange because for 10 years these two have refused to admit there was anything wrong with restaurants at City Tatts – while it was plain as daylight that every restaurant, cafe and bar in the Club was failing.

But if they do manage to find someone who will pay to run a restaurant at City Tatts, then you know something very shifty is going on.

The Club’s restaurants and bars are losing staggering amounts of money, over $900,000 in 2014. It defies logic that anyone would pay for a piece of that action. And the dismal losses could only get worse with fewer members each year.

So if someone does offer to pay for the right to operate a restaurant in the Club, it must mean that not only do they believe they can make a profit but also an additional profit to cover the fee. 

So what would that tell us about how restaurants are been run now by Tony Guilfoyle? And what would it tell us about the financial acumen of the Treasurer – that hopeless clown Jimmy Chen.

Basically, any payment to operate a restaurant in the Club would be good evidence of criminal mismanagement in the past.

City Tatts Information Desk


Profits will increase while the club is a building site!

Tony Guilfoyle (Tweedledum) has been lying to City Tatts members for 10 years now.

But even by his standards his latest statements are special.

He is now claiming, that if members approve a property development, profits are going to increase while the club is a building site.

We are not making this up! It is on the club website.

Just stop and think about this:

In the 10 years he has attempted to run the club, despite starting with every possible advantage (a huge club premises, a prime Pitt St location and 34,000 members) he can barely break-even – even with profits of $20 million every year from pokies.

Now he is claiming that with a fraction of the current facilities, squeezed into 202-204 Pitt St,, he is going to more than double the profits – while the main club is a construction site. That’s right, a club that struggles to make a profit of $700,000 today somehow is going to make $1,600,000 every year during construction!

He’ll be lucky if the club is still trading by the time construction finishes.

Remember, he has already driven away more than half the 34,000 membership he started with. It’s down to 15,000 now (and 2,000 of them are Life Members!). A further 50% drop in membership during construction is a real possibility, since there will be almost nothing left to attract anyone to the club.

And this is the sort of “information” given to members to decide on a property development.

It’s important to repeat what has been said many times on this blog. There is no need for any property development at City Tatts. The only people pushing for a property development are those who will make money from it. There is no other reason.

City Tatts Information Desk


Airhead Development Update by Tweedledee – September 2015

I am sorry to announce that on 25 August 2015, our Club was forced to lodge a replacement Stage 1 Development Application (DA) with the City of Sydney Council. This is another backward step in the Club’s stumble towards a property development, because the Council will now be even more suspicious of anything coming from City Tatts.

The new DA was lodged following a Brief Member meeting on 18 August 2015. Most members continue to oppose the property development, because it makes no sense. But Tweedledum and a small army of consultants, charlatans and bluffers who stand to profit are overwhelmingly in favour of it.

The DA lodged replaces the prior Mirvac development application which the Council rejected in May 2015, following a year of lies to members about how well it was progressing at Council.

In the new DA, Tony Guilfoyle’s hotel capacity has been increased while parking has been decreased to 67 cars, but with the same hilarious car lift proposal which will cause so much chaos on Pitt Street it will become a tourist attraction in itself.

The Club also tried to have constructive discussions with our neighbours regarding the Stage 1 DA, but they just ignored us – because they are waiting for the Club to go bust.

To ensure members continue to be deceived about the lack of progress on the proposed development, brief member meetings have been scheduled for midnight on 31 October, mainly for our Rookwood voters.

To increase confusion in respect of these meetings, the Club will send emails to members who have provided a blood sample at least twenty eight days prior. Garbage will also be posted on the Club’s noticeboards and the website (citytattsinfodesk@wordpress.com).

If you are not able to attend these meetings, you can find out the real story from any of our ex-members, many of whom are at the Bowlers Club in York Street.

Yours Dishonestly

Tweedledee (Patrick Campion)

Chief Liar

City Tattersalls Club