QLD Poker Machine Tender #54 (Pubs) - Tender RESULTS

QLD Poker Machine Tender #54 (Pubs) - Tender RESULTS

By Steve Gagel, Director of Business Services and Taxation

The Qld Office of Liquor and Gaming Regulation has released the result of Tender #54 late last Friday via its website, being:

• $465,929 South East (Up from $400,888 - tender #53) – 16.2% increase
• $198,668 Coastal (Up from $187,367 - tender #53) – 6% increase
• $133,125 Western (Up from $91,000 - tender #52) – 46.3% increase

NOTE – All regions posted all time record prices since authorities started trading in July 2004.

South East (21/21 sold) and Western (8/8 sold) pools both cleared on expected increased demand. The Coastal Region was an exception (31/47 sold) with the pool failing to clear, potentially showing a peak in the Coastal Region values. Quite an extraordinary result with all regions posting record high values. I would suggest a mix of a booming Qld population and government pressure on Casino’s increasing yield on pub machines driving authority values. Will be interesting to watch the supply side of the equation and effect on values after return to the 33% state tax slated to return after 30 June this year.

Historical data on prior tenders can be found here.