New Zealand's gaming machine profit increases by 116% for Q3

By Violeta Prockyte

New Zealand’s Department of Internal Affairs (Te Tari Taiwhenua) reported that profits from gaming machines increased by NZD130.7m ($91.4) or 116% compared to Q2 figures. Total Q2 profit was NZD112.6m, while Q3 profit totalled NZD243.3m. 

The increase in profit coincided with the end of COVID-19 restrictions after guests were allowed to visit class 4 venues (including pubs and clubs). The new temporary restrictions in the country affected revenue figures as well. 

"New Zealanders were able to access Class 4 venues which were closed for seven to eight weeks during the Covid-19 lockdown, and then again as the Auckland region was moved back into alert level 3." 

A statement from the Department said the figures for Q3 “show a far higher increase in Gaming Machine Profits (GMP) than was the case between the June and September quarters over the past five years” when the average increase was about 3%. September’s revenue was 8% higher than predicted, which was based on March 2020 quarter and historic gambling patterns. 

Rolling 12-month gaming machine profits were NZD800.9m for Q3, a 0.2% drop from NZD802.4m in the previous quarter. Currently, there are 1,068 venues in the country, a 0.6% decline from the number of venues in Q2. 

TAGS:

Share This Post



NEWS SPONSOR

More News

The launch of the online gaming market in the Netherlands has been further delayed after the Dutch Remote Gambling Act (Koa) was pushed back by a month. Minister for Legal Protection Sander...




This article originally appeared in the November/December edition of Gambling Insider magazine: Steve Donoughue, who oversees Britain’s foremost gambling licensing & compliance advisory service, tells Gambling Insider his thoughts on the...