The Office of Liquor and Gaming Regulation last week opened the tender for the latest round of gaming authorities (last tender and value in brackets), being:
- 5 South East ($161,292 - tender #42)
- Nil Coastal ($57,489 - tender #41)
- 34 Western ($25,000 - tender #42)
Reduced supply in the South East Region should see the price rise in line with tender 38 where prices increased by 16.7% - expecting the price to average around $188k in this tender. The once steady supply in the Coastal region has evaporated with no supply in this tender - on the back of no supply in the last tender with pent up demand to increase value in the next tender (March 2020). An additional 10 machines added to the 24 that were carried over from the last tender in the Western Region will see prices continue to soften and will see good buying opportunities, I suggest under $20k.
Queensland Casino policy is expected to be released from Queensland Government at the end of this month with uncertainty still around in relation to the sourcing of authorities from the current caps (expected to come from the Club sector). Will be interesting to see how the market reacts when this position is finally released. Interestingly, there has not been a tender for Club authorities this year which is a first.
More info can be found on the link below:
If you intend to bid in the Pub Tender, please ensure you have lodged your completed form (along with the lodgement fee of $55) in the tender box with the Public Trust Office, Ground Floor, 444 Queen Street, Brisbane prior to 5pm Wednesday 20 November 2019.