Queensland gaming update – April 2019 tender results announced
21 May 2019
The Public Trustee has announced the results of the Gaming Machine Operating Authorities tender, which closed on 3 April 2019. Results for each region are summarised below.
(a) South East:
- 88 offered and all sold
- Average price paid: $169,597
- A decrease of 10% from $187,954 achieved in November 2018
- Supply of SEQ Authorities was significantly higher (88 Authorities is the largest number of Authorities sold since March 2013) which may have reduced the price.
- 27 offered and all sold
- Average price paid: $57,489
- An increase of 19% on the November 2018 result of $48,400, which was the lowest tender price on record
- This rebound price may have been expected following the last tender’s record low price and the market taking advantage of this opportunity.
- 24 offered and 8 sold
- Average price paid: $28,726
- A decrease of 22% from $36,737 in the previous tender
- Despite the decrease in price there was still lower demand for the Western region, as demonstrated by 16 Authorities remaining unsold.
This probably means if you have a need for Authorities in the Western region the next tender may provide an ideal opportunity, with at least 16 Authorities being available.
(d) Results of club entitlement tender sales
The Gaming entitlement tender closed on 3 October 2018 and did not result in any sales. The previous club entitlement tender closed on 13 September 2017 with results as follows:
- 18 entitlements sold of the 103 offered
- Average sale price of $5,363.
BDO successfully manages the sale of many Gaming Authorities and Entitlements. If you need any practical advice in relation to the options available for your gaming operations, please contact Roger Postle, or another member of our experienced BDO Advisory Team.