Updated March 2018
February gaming results overall for Queensland grew by 5.0% on 2017 to approximately $174.8 million. Current ADR is $148 for the state as at February 2018. Growth in gaming has continued for 10 consecutive months now – is your venue keeping or picking up pace? In terms of two year growth, gaming is up is +2.5%, consistent with that of December and January.
Comparatively, Hotels held another strong month with +8.5% growth and Clubs increased by 1.0%. ADR is $182 and $120 respectively.
Of the major Local Government Areas (LGAs), the highest growth was experienced in Gladstone (+13.9%) and Mackay (+11.6%). Moreton Bay’s LGA again showing consistent growth of +9.6%.
Logan LGA holds top ranking for ADR this month of $206. Brisbane South and Brisbane North complete the top 3 again for the month with $193 and $176 ADR respectively.
The consumer sentiment index in February fell 2.3% to 102.1, a decrease from an index of 105.1 last month. The survey was conducted during a week of volatility in the global share markets. Retirees particularly experiencing the most concern with a drop of 13.5% in their confidence levels.
Market volatility is also reflected in the fall in all components of the index (family finances, economic conditions, dwelling purchases) except for buying major household items. Whilst buyer sentiment in relation to housing is softening, price expectations are increasing. The outlook on jobs is also positive at an index of 120.6, which is well below the long run average of 130 (remembering that the lower read means more consumers expect unemployment to fall).
For further information contact the DWS team on (07) 3878 9355 or email firstname.lastname@example.org.