August Gaming: Clubs Bounce Back
A solid month for gaming across the state this month with growth of 4.6% to approximately $227 million.
Overall, Clubs have bounced back this month recording an increase of 3.8% on 2017 (-1.8% in July) and hotels up by 5.2% (+5.0 in July).
ADR is currently sitting at $138 for Clubs and $218 for Hotels, continuing the trend of 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 in Mt Isa (+11.3%), Cairns (+8.8%), Rockhampton (+7.9%) and Bundaberg up by 7.7%.
The Logan LGA holds the highest ADR again this month at $263. Cairns and Moreton Bay LGA areas follow on $194. Almost half of the state’s LGA areas are above the reported Queensland ADR of $174.
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, Moreton Bay South and Ipswich.
The Westpac Melbourne Institute Consumer Sentiment Index in August dipped this month by 2.3% to 103.6, following an index of 106.1 in July.
This would be attributed to increases in mortgage interest rates, political instability and household budget pressures.
All index components recorded declines, the largest in the expectations surrounding economic performance. The indexes and the movements are highlighted below:
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