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By Steve Gagel, Director of Business Services and Taxation
The Qld Office of Liquor and Gaming Regulation has opened the tender for the latest round of gaming authorities (last tender and value in brackets), being:
- 39 South East ($281,500 - tender #49) – minimum acceptable price $214,512
- 65 Coastal ($154,940 - tender #49) – minimum acceptable price $126,997
- Nil Western ($17,061 - tender #45) – minimum acceptable price $17,360
Pub Authorities
Note that this is the first tender under the new OLGR provisions (under trial for 12 months from 1 July 2022) including:
- Reduction in transfer fees from 33% to 15% (better for sellers)
- Minimum acceptable prices for tender (see above) based on weighted average of prior tender values
It appears that the new reduction in transfer fees has indeed enticed supply back in the market with the number of authorities available in the South East at levels not seen since August 2018. Similarly for Coastal region, this is the highest supply since July 2013. No supply again for the Western Region. Expecting the South East value to increase sharply with constrained supply since August 2019 and Coastal region to reduce to the long term average of $75k after this tender.
Club Authorities
The club market continues to be depressed as larger operators continue to reduce floor sizes and increase space between machines. Values dropping to around $1,500 per authority at the moment.
If you intend to bid in the Pub Tender, please ensure you have lodged your completed form (along with the lodgement fee of $70) in the tender box (facsimile, post or email not acceptable) with the Public Trust Office, Ground Floor, 410 Ann Street, Brisbane prior to 4pm Wednesday 14 September 2022.
For more information, please click here.