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