September gaming: Was there a spring in your step?
A steady month for gaming across the state this month with growth of 2.4% to approximately $207 million (compared to +4.6% in August).
Overall, Clubs recorded an increase of 0.6% on 2017 (+3.8% in August) and hotels up by 3.9% (+5.2 in August). ADR is currently sitting at $130 for Clubs and $206 for Hotels.
Despite the slower growth this month in Queensland, did September put a spring in your step in your venue?
Of the major Local Government Areas (LGAs), the highest growth this month was in Cairns (+7.9%), Rockhampton (+7.9%) and Mackay up by 5.7%.
The Logan LGA holds the highest ADR again this month at $241. Brisbane and Moreton Bay LGA areas follow on $184 and $182 respectively. We note that only six of the state’s LGA areas are above the reported Queensland ADR of $165.
From an SA4 perspective, the top 5 areas rank again this month – Logan-Beaudesert area with the highest ADR followed by Brisbane South, Brisbane North, Ipswich and Moreton Bay South.
The Westpac Melbourne Institute Consumer Sentiment Index in September dipped this month by 3.0% to 100.5, following an index of 103.6 in August – the lowest read since November 2017.
Some factors that play a part in this month’s sentiment index include:
- Increase in mortgage interest rates;
- Political instability; and
- Household budget pressures – slow growth in wages and rising cost of petrol.
All index components recorded declines, the largest was in the expectations surrounding economic performance. The indexes and the movements are highlighted below:
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