- Nil South East ($181,000 - tender #43)
- Nil Coastal ($57,489 - tender #41)
- 22 Western ($20,000 - tender #43)
Nil supply in the South East Region has only happened twice in the past. The first time was in March 2012 (tender #20) towards the end of the oversupply position in the market that extended back to May 2007. The second time was in tender #31 in more competitive times and this will give us an indication of the likely price if there is supply in the next tender #45 (July 2020). In that instance, prices increased by 38.7% (tender #32 compared to tender #30).
Nil supply in the Coastal region again (no supply since tender #41 in April 2019).
Western Region is the only region with a supply of authorities but no further machines have been added to the pool with the 22 available being an oversupply from the last tender. I am expecting price to hold or increase in this region as the long awaited rains to many parts out west will boost those economies and will result in an improvement in the short to medium term to pubs in this region.
Queensland Casino policy was expected back in October 2019 by the Queensland Government and uncertainty continues to impact on investment decisions in both pub and club sectors 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. Would expect that with the upcoming state election and the 2020-2021 Qld State Budget being scheduled over a month early to 28 April 2020, this position will be made clear within the next 4-6 weeks.
Looking forward to the upcoming MaxGaming Australian Hospitality and Gaming Expo next week – will be in and around the event so look forward to catching up with you then to discuss the current market.
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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 (facsimile, post or email not acceptable) with the Public Trust Office, Ground Floor, 444 Queen Street, Brisbane prior to 5pm Wednesday 1 April 2020.