Pokies profits take hit

PROFITS from poker machines have taken a multimillion dollar dive as government cash handouts cease and stimulus payments are wound back.

Latest figures show pokies revenue fell by $10 million to $377.25 million in the final six months of last year compared to the same period in 2008.

The largest drop was in December, where total revenue fell from $68.10 million in 2008 to $60.28 million last year.

Independent Senator and anti-pokies campaigner Nick Xenophon said the withdrawal of stimulus "has to be one of the key factors" for the fall in profits. "It's a welcome drop, but South Australians are still losing more than $1 million a day on the pokies and half of that comes from problem gamblers," he said.

He demanded bans on ATMs in pokies venues and the introduction of Smartcards.

Australian Hotels Association SA general manager Ian Horne said the result was the poorest in six years and major lottery jackpots had sucked money away from poker machines.

"We've had some massive megadraws in the national lotto, and when they sell record tickets that has an impact on us," he said.

"It's a pretty competitive environment because we compete with other entertainment options, including everything from major events to the movies."

Mr Horne said pubs and clubs were struggling to return to gambling profit levels achieved before the implementation of smoking bans.

There are now 12,742 poker machines placed in 564 venues statewide. Gambling revenue has declined about 4 per cent over the past five years, government figures show.
Issued by Adelaide now 28th January 2010
http://www.news.com.au/adelaidenow/story/0,22606,26647068-5006301,00.html