QLD Poker Machine Tender #40 (Hotel) Tender Released
by Steve Gagel
The Office of Liquor and Gaming Regulation released (late last Friday) the latest round of gaming authorities (last tender and value in brackets), being:
• 15 South East ($172,490 - tender #39)
• 24 Coastal ($50,903 - tender #39)
• 26 Western ($35,001 - tender #39)
Supply in the South East Region has reduced from the last tender to 15 (37 in the last tender) and with a upward pricing pressure, due to greenfield sites, I would expect prices to continue to strengthen towards the $190k mark. Steady supply in the Coastal Region (same number on offer as last tender) should see prices continue to soften towards the $45k mark, although left over authorities did clear out in the last tender. Supply in the Western Region includes an extra 8 new authorities entered into the tender over the carry over supply of 18 authorities not sold in the last tender (pool has not cleared since March 2017) - should see prices soften somewhat potentially under $30k and may be good time to consider expansion especially in the outback region that is showing strong ADTM growth.
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Tender # 12, offering 85 machines closed on 3 October and we are still waiting for the release of this information. Will be interesting to see what happens in this space considering the looming possibility of the second Casino on the Gold Coast – still waiting for the Government to provide guidance on this development. At this stage, the most likely scenario is that the Casino will mop up authorities in club (and potentially pub space) that are not currently being utilised on the floor.
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 14 November 2018.