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By Steve Gagel, Director of Business Services and Taxation
The Qld Office of Liquor and Gaming Regulation has released the result of Tender #51 this morning via its website, being:
- $384,057 South East (Up from $374,471 - tender #50) – 2.6% increase
- $183,494 Coastal (Down from $196,815 - tender #50) – 6.8% decrease
- No Market Western ($17,061 - tender #45)
Both South East (44) and Coastal (49) pools cleared with the South East Region continuing to set all time record high value, albeit growth in price is levelling off. Coastal Region showing first softening of value since a meteoric rise that has been occurring since tender # 40 where in November 2018 you could have purchased an authority for $48,400.
Will be interesting to watch the impact on the Qld gaming/pub market with the inevitable introduction of NSW carded gaming (now backed by both sides of State Government) that may fuel the hunger of NSW operators looking to move up to the Qld market. Will also be interesting to see how the minimum acceptable price regime holds in a potentially falling market:
- South East – minimum acceptable price $277,101 – market at 138.6% of min
- Coastal – minimum acceptable price $153,839 – market at 119.3% of min
- Western– minimum acceptable price $40,000 - at 34.4% of min of last market in July 2020
Historical data on prior tenders can be found here.