|Introduction of smoking bans, reduced operating hours and increased taxes are taking a toll on Aussie gambling industry.|
Market and media observers comment, ‘The outlook for the gaming industry has deteriorated significantly in the past 12 months, with more than two-thirds of pubs and clubs expecting turnover to fall at least 5 per cent this year, a survey has found.
Stock broking house Deutsche Bank which surveyed 118 gaming managers in 212 pubs and clubs in NSW, Victoria and Queensland, which have 86 per cent of Australia's gaming machines, to gauge among other things the impact of recent regulatory changes. Their findings are gloomy -
- 80 per cent of managers expect revenue from gaming machines to fall more than 5 per cent as a result of smoking bans, compared with 51 per cent of managers last year.
-Only 33 per cent of managers expected to increase spending on gaming machines, compared with 42 per cent last year. This is expected to have a drastic impact on poker-machine makers such as Aristocrat.
The figure may be even lower, with Deutsche pointing out that responses to the survey were received before the NSW Government's recent tax increase. The risks are expected to peak and operating conditions will continue to struggle.