Benefits of the amalgamation?
City Diggers Wollongong currently:
Assets of $5,000,000
Revenue $5,500,000 p.a.
Assets of $24,000,000
Revenue $13,300,000 p.a.
Other benefits include:
- Combined Club History of 200 years
- Greater member benefits
- Loyalty programs maintained
- Each club will retain their current names and identities
- There will be no change to club operations which will continue to operate as normal
- Each club will retain it’s current staff. This will provide a larger pool that both clubs can draw on to serve members, such as additional staff expertise, flexibility and personal development
- Strategic income distribution across several areas such as bar, gaming, food, accommodation and events.
- Delivery of cost savings
- Year 1 EBITDA forecast of $1.5 million
Staff and boards from both clubs have conducted exhaustive analysis on every factor of the amalgamation. Each club has sought their own independent financial advice. The result has overwhelmingly shown that the amalgamation is a positive step forward with minimal risk to either party. This resulted in the unanimous decision by both boards to amalgamate.
How can I get more information?
Further information is available by contacting Mark Jordan,
City Diggers Wollongong
Due to the current climate surrounding COVID- 19, the Board has decided that it would not be in the best interests of the Members to continue with the Amalgamation vote which was set down for Tuesday 24th March, 2020.
We will advise Members when an appropriate vote date has been rescheduled. At this stage City Diggers is closed for service until further notice due to the Federal and State Governments efforts to prevent the transmission of COVID-19.
Board of Directors & Management