Net profits at clubs and hotels in NSW fell by almost 36 per cent year-on-year in the first six months of 2020.
Australia.- Liquor & Gaming NSW (ILGA) had released a report showing significant decreases in gaming machine profits due to the restrictions placed on venues in New South Wales during the Covid-19 pandemic.
The gaming authority analysed the performance of gaming machines in clubs in the six months from December 1, 2019 to May 31, 2020; and their performance in hotels during the first six months of 2020.
The total number of operating gaming machines fell by 870, and net profits decreased by 40.6 per cent (41 per cent for hotels and 40 per cent for clubs) compared to the previous six month period.
Compared to the same period in the previous year, the number of machines fell by 908 and net profits dropped by 35.9 per cent (33.2 per cent for hotels and 37.6 per cent for clubs)
ILGA said the figures coincided with restrictions placed on gaming venues, including a 10-week closure from March 23 to May 31.
One of the measures taken by the New South Wales government to minimise the impact was a deferral of tax payments in the last instalment period.
ILGA said: “Tax adjustments for 2019-20 are yet to be finalised and the reports will be reissued when the information becomes available.”