More gaming machines have been withdrawn from operation in South Australian pubs and clubs as a result of the latest trading round for entitlements.
Today the Liquor and Gambling Commissioner said, this was the fourth trading round under the new scheme and I am pleased to observe continued market activity, with each round seeing a decrease in the total number of gaming machines operating in South Australia.
“This latest trading round saw a total of 42 entitlements being sold, resulting in a further four entitlements being cancelled.
“Since the trading system was introduced in 2012, we’ve seen a total of 296 entitlements sold, 48 of which have been cancelled.
“The trading scheme is designed so that holders of gaming machine entitlements can purchase and sell entitlements, whilst reducing the overall number of gaming machines operating within the South Australian market.
“Potential buyers nominate a maximum price they are prepared to pay for each gaming machine entitlement and sellers nominate the lowest price that they are willing to accept.
“Buyer and sellers are then matched up through the scheme with one in every four gaming machine entitlements sold by hotels being cancelled.
“Although the number of entitlements sold was lower than in previous rounds, it had been predicted that trading activity during this particular round may be slower as the market awaits the entry of the Adelaide Casino into the trading scheme from 1 January 2014.
“Based on the offers submitted to purchase and sell entitlements, successful purchasers in this latest round will pay $54,166 per entitlement, with sellers receiving
“The difference in these prices, making up for the entitlements cancelled.”
Additional information regarding the approved trading system and the results of this latest trading round are available on the Consumer and Business Services website at www.cbs.sa.gov.au.
The next trading round for the purchase and sale of gaming machine entitlements is expected to open for offers in late January 2014.