June Gaming: Just warming up or is it cooling down?
Great news for the state with June up for the 14th consecutive month at +3.0% to approximately $195.4 million. Is your gaming just starting to warm up or is it cooling down?
Hotels provided most of the growth for Queensland again this month, however their metered win slowing down a little at +4.9% (+6.5% in May). Clubs report +0.7% growth and notably the highest month for MW since December last year.
ADR is currently sitting at $191 for Hotels and Clubs are up to $124 this month ($118 in May). June was the highest recorded ADR for both Hotels and Clubs since December 2017.
Of the major Local Government Areas (LGAs), the highest growth this month was experienced in Mount Isa (+11.7%), Moreton Bay (+7.8%), Ipswich (+6.7%) and Logan (+4.9%).
The Logan LGA holds the highest ADR again this month at $228. Brisbane LGA follows on $176 and both Mount Isa and Moreton Bay LGA areas are currently sitting on $175. Almost half of the state’s LGA areas are above the reported Queensland ADR of $154.
From an SA4 perspective, the Logan-Beaudesert area ranks the highest, followed by Brisbane North and Brisbane South.
The Westpac Melbourne Institute Consumer Sentiment Index in June climbed 0.3% month-on-month to 102.2 in June, following a 0.6 percent decline in May at an index of 101.8.
Even though slightly up in June, ongoing pressure on household budgets sees the family finances sub-indexes still below their long-run averages. This can be attributed to such factors as slow growth in wages, declining house prices and rising petrol prices (average pump prices up over 20c a litre since mid-March).
The economic sub-indexes both fell this month, -2.8% for conditions over the next 12 months and -3.1% for conditions over the next 5 years. A question this month relating to the ‘wisest place for savings’ indicated 65% of respondents are still playing safe with deposits, superannuation or paying down debt as opposed to real estate or shares.
For further information contact the DWS team on (07) 3878 9355 or email firstname.lastname@example.org.