Authorised Sale of Gaming Machine Operating Authorities - January 2023 Tender
The Public Trustee of Queensland has advised the results of the tender which closed on Wednesday 11th January 2023. This is the second tender under the changed conditions.
The government has reduced the tax commission (for sellers) on the sale of gaming machine authorities from 33 per cent to 15 per cent for a 12-month trial period, which commenced on 1 July 2022.
In addition to the reduced commission, a minimum acceptable price for tendered authorities in each of the 3 authority regions will be established and published.
Results of the January 2023 tender
|Region||Available / Sold||Minimum Acceptable Price / Avg Sale Price|
|South East||44 / 44||$277,101 / $384,057.14|
|Coastal||49 / 49||$153,839 / $183,494.90|
|Western||NIL||$40,000 / No market|
These prices are based on a weighted average of recent tender results in South East and Coastal regions with the price for the Western region established taking account of historic sales data (due to the lack of recent sales).The tender process is a competitive one with available authorities awarded to the highest bidders. The minimum acceptable price operates as a reserve price rather than a guarantee. If the minimum price is not met for any available authorities, they will be retained for the next tender.
The hotel sector is at capacity under our cap of 19,500 EGM’s. Authorities only become available via existing venues decreasing EGM’s or surrendering entire gaming licence within each respective pool’s geographic area.
The next Hotel Gaming Machine Operating Authorities Tender Sale is expected to be called in late March and close mid-April 2023.