QLD Poker Machine Tender #45 Tender Results
By Steve Gagel, Director of Business Services and Taxation
Ladies and Gents,
The Office of Liquor and Gaming Regulation has released the result of Tender #45 (this morning):
- Nil South Eastern ($181,000 in tender 43) – NO AUTHORITIES FOR SALE
- $ 101,250 Coastal (Up from $57,489 in tender 41 or 76.12%)
- $ 17,061 Western (Up from $16,500 or 3.4%)
Coastal region shocked on the upside with all 14 authorities clearing the market, noting that this was the first tender since April 2019 showing that there was plenty of pent up demand in this region. Western Region also cleared all 33 authorities for tender (most number cleared since Tender #1 in July 2004) with prices rising only moderately, still good buying at that level. Will be interesting to watch the November tender to see if there is a market for the South East quarter (supply side) – if the coastal market is a barometer, prices should be headed north.
The Covid-19 response by the Qld Government has dramatically changed the political landscape to the proposed ‘sustainability package’ that has been argued by both Clubs Queensland or the past two years, including the poker machine buy back scheme from the Club pool. Clubs Queensland has presented a club ‘rescue package’ to the Queensland Government – still no response from the Labor Government despite continued and weekly pleas. Clubs Queensland continues to work closely with both Labor and the LNP for the club sector and I would expect a response from both sides of government in the next few months in the lead up to the election.
The Labor Government has finally confirmed the mothballing of both the second Gold Coast Casino and plans for the revamped Cairns Casino.
Hope trade is kind to you in this Covid period of restricted trade – on average compared to last year (across clients and other industry participants) – gaming up 30%, Bar flat and food down 20%. Expect most venues not able to participate on JobKeeper after the end of September 2020. CBD venues taking more time to bounce back due to extended work from home provisions from the larger corporates.
Historical data on prior tenders can be found here.