November gaming: Flat all round
There’re no surprises when it comes to this time of the year, when retail spending is at its peak, but for the first time since February 2017 Hotels have also felt the pinch this month. Overall, gaming across the state this month was flat (-0.18% on last year) at approximately $201 million (compared to +1.58% in October).
Overall, Clubs held at +0.19% on last year (-0.04% in October) and Hotels down marginally by 0.46% (+2.84% in October). ADR is currently sitting at $126 for Clubs and $199 for Hotels.
Of the major Local Government Areas (LGAs), the highest growth this month was in Gladstone (+10.8%) and Cairns (+6.8%). The two-year comparison shows Cairns and Mackay reporting double-digit growth (+15.6% and 14.4% respectively).
The Logan LGA maintains the highest ADR again this month at $224. Brisbane, Moreton Bay & Cairns follow on $180, $175 and $171 respectively. Six out of the 15 LGA areas are above the reported Queensland ADR of $159.
From an SA4 perspective, Central Queensland and Darling Downs-Maranoa recorded the highest growth in November. The areas of Logan-Beaudesert, Brisbane South and Brisbane North hold the highest ADR again this month.
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The Westpac Melbourne Institute Consumer Sentiment Index in November saw a solid lift this month by 2.8% to 104.3, following an index of 101.5 in October.
The report illustrates a more confident consumer than Westpac economists expected with four out of five index components recording growth. The surprisingly strong result can be somewhat supported by low interest rates, however the spending intensions are weaker with a third indicating Christmas spending plans will be less this year than in 2018.
Westpac’s view for 2019 is that growth will slow to 2.7% due to weight of weakening housing market, a contraction in construction and slowdown in jobs growth.
The indexes and the movements are highlighted below:
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