Updated May 2018
April Gaming – not all it was cracked up to be?
With Easter falling in April last year, we had an additional day of trade this month. However even with that extra day, April still proved not all it was cracked up to be for some venues. Reporting a growth in gaming of 2.4% (3.3% last month) to approximately $186.2 million, April represents the 12th consecutive month of growth for the state.
Continuing their strong run, Hotels provided most of the growth for Queensland this month, with their metered win up by 6.1%. Clubs experienced a decline this month of 1.9%. Consistent with March, ADR is currently sitting at $186 for Hotels and $124 for Clubs.
Of the major Local Government Areas (LGAs), the highest growth this month was experienced in Mt Isa (+15.4%), Cairns (+8.5%) and Moreton Bay (+7.0%).
Logan LGA maintains top ranking for ADR this month of $212. Brisbane and Moreton Bay areas complete the top 3 again for the month of April with $171 and $169 ADR respectively.
The consumer sentiment index in April stabilised (-0.6%) to 102.4, a decrease from an index of 103.0 last month. This month marks the fifth consecutive monthly reading above the 100 level (remembering a reading of 100 is deemed neutral) and therefore representing a slightly more optimistic view by consumers. However still below the 105-115 levels that are usually associated with a robust consumer.
Whilst factors such as slow wage growth, an increase in living costs and high levels of household debt are weighing on consumer mood, they are offset by the broad-based strength in employment. Other highlights this month from the subindexes:
- Family finances compared to a year ago increased by 2.5 percent, however the outlook for the next 12 months is showing a decline of -5.8%.
- Expectations for the economic outlook over the next 12 months is stable at +0.6% and the outlook over the next 5 years +2.9 percent.
- The gauge of whether it was a good time to buy major household items declined by -1.8 percent.
- Time to buy a dwelling was also down this month (-0.5%) and little change in the house price expectations (+0.4%).
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