The Public Trustee of Queensland advised the results of the latest tender sale which closed on Wednesday 10th May 2023.
This is the third and last tender under the changed trial conditions where the Government reduced the tax commission (for sellers) 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 was established and published. Whether there will be any extension of these trial conditions is still to be confirmed.
RESULTS OF MAY 2023 HOTEL GAMING MACHINE OPERATING AUTHORITIES TENDER
| Region | Available / Sold | Minimum Acceptable Price / Average sale price |
|
South East | 103 / 103 | $ 324,954 / $ 380,870 |
|
Coastal | 35 / 35 |
$ 166,897 / $ 177,267 |
| Western | 8 / 8 |
$ 40,000 / $ 91,000 |
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.