QLD Poker Machine Tender #58 (Pubs) - Tender RESULTS

QLD Poker Machine Tender #58 (Pubs) - Tender RESULTS

By Steve Gagel, Director of Business Services and Taxation

The Qld Office of Liquor and Gaming Regulation has released (finally) the result of Tender #58 today via its website, being:

•  $564,867 South East (Down from $661,000 - tender #57) – 14.54% decrease
• $201,362 Coastal (Up from $193,500 - tender #57) – 4.06% increase
• $131,500 Western (Up from $130,250 - tender #57) – 0.01% increase

The Southeast has broken it’s record-breaking run and the reduction in the region is the first since tender #52 in May 2023. There was confusion around this tender due to OLGR not closing Tender #57 before opening Tender #58. I understand that due to this, the floor prices published were used from Tender #56, lower than what should have been used under the last Tender #57 (uncompleted at time of calling the new tender). In more confusion, OLGR did not commit to extension of the Qld Government take out tax on transfer of Authorities (although largely known this would happen in some capacity) resulting in increased record supply in the South East (largest since Nov 2012). Will be interesting to see what happens in tender #59 in September. South East region (30/118 sold) – talk on the street is that a lot of tenders went in at the old minimum acceptable price and this was adjusted after tender #57 was transacted (not sure of veracity of this).

Coastal region was resilient with 29/29 authorities clearing and price improving from the last tender.

Western region (2/2) also stable on supply and demand keeping prices steady.

Historical data on prior tenders can be found here.