Gambling on Australia’s preferences

A small change to Australian gambling law in 2015 is now having an impact on the wider industry. The amendment highlights why many are concerned about the market’s ability to support some of the multi-billion dollar IR projects being planned. In the Northern Territory, pubs and clubs were given permission to increase the number of gaming machines, known as pokies, they could install on their premises, as well as relaxing wager and deposit limits. It was a relatively minor tweak, but one that has hit casino operators in the region hard. In its 1H17 financial results, SKYCity Entertainment said there had been a 60 percent increase in the number of pokies outside of casinos in Darwin since the law came into force in June 2015, with ripples from the changes now negatively impacting its revenues in the region. This highlights the size and scope of the domestic market across Australia. Although Australians...

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