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Woolworths Poker Machines

Independent Federal MP Andrew Wilkie was among those to welcome Woolworths' planned exit from Australia's largest poker machine operator. 'Poker machines are a.

Poker

Given that Woolworths will maintain a minority stake of around 15 per cent in the new Endeavour Group, Costello encouraged concerned customers to write to the supermarket, congratulating them on their decision to divest from poker machines, and urging them to finish the task by divesting completely. Woolworth’s ALH has been Australia’s third largest owners of poker machines, after Crown Casino and Star, with 286 of their pubs and clubs operating a whopping 12,000 poker machines. ALH has also been revealed as an aggressive promoter of poker machine expansion. Initially, the poker operation within Woolworths will be transferred to the newly formed Endeavour Group. This newly formed spin-off entity will completely take control of the nightclubs, hotels, pubs, bars and poker machine venues – relinquishing the responsibility entirely from Woolworths. It is being widely analyzed in the Australian.

WOOLWORTHS has emerged as a potential big winner after the Victorian Government smashed the pokie machine duopoly between Tabcorp and Tatts.

Shares in Tabcorp and Tattersalls were placed in a trading halt yesterday after the announcement that they will lose their control over the state's 27,500 poker machines in 2012.
Experts say that since Woolworths owns so many pubs and bars in Victoria, it is perfectly placed to benefit and bid for its own licences.
Angus Geddes, of stock market newsletter Fat Profits, said: 'There will be blood on the market tomorrow. This is bad news for the two companies and Woolworths will probably be rubbing its hands together and opening the champagne.'
From 2012, owners of venues will own and run their own poker machines - and keep the revenue.
Craig Shepherd, an analyst at Commsec, said the announcement was a blow for both gaming companies.
'It was a shock decision and the value that the market thought was in the stocks from 2012 onwards has been wiped out. People thought they would retain the licences for poker machines but they haven't. Even though a change was always on the cards, nobody expected it to be this dramatic,' he said.
Tabcorp and Tattersalls had enjoyed a duopoly where the two companies were in charge of sourcing, buying and collecting the revenue from poker machines in Victoria.
From 2012, however, venues of any size will be able to bid for pokie machine licences for up to 10 years.
'Currently in Victoria, revenue from pokie machines is shared between Tattersalls or Tabcorp, the venue, and the government. But the changes move to a more NSW-style system where the venue owns and runs everything,' Mr Shepherd said.
He said Tatts and Tabcorp derived about 30 per cent of their earnings from the gaming machines, but still own significant assets such as their wagering licences.
Tabcorp chairman John Story said the company was disappointed by the decision and would review all available options to gain a refund on its $597 million licence fee.
The Victorian Government said yesterday neither Tatts nor Tabcorp were entitled to compensation as a result of the restructure.
'We are both surprised and deeply disappointed by the Government's statement that it disputes its obligation to refund the licence fee,' Mr Story said.
'Tabcorp's 216,000 shareholders, including 60,000 in Victoria, are relying on the Government to honour its commitment.'
Tabcorp said the gaming business was an important contributor to earnings, adding $118.7 million before interest and tax in the first half of 2008.
The Government said it would maintain total poker machine numbers at 27,500 and enforce a cap on ownership so that no one venue operator could own more than 35 per cent of machines available to hotels.
- news.com.au

Originally published asWoolies to win on pokies

08:00pm

Woolworths chairman Gordon Cairns doubts $1 bet limits on poker machines will help problem gamblers.

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The supermarket giant is one of Australia’s largest poker machine operators, through its ownership of more than 330 hotels.

Shareholders and anti-gambling advocates peppered Mr Cairns with questions and criticism of the company’s poker machines operations during Thursday’s annual general meeting.

Machines

Mr Cairns was asked if he will consider following Coles, which owns 89 hotels, in seeking to introduce $1 maximum bets on pokies.

“There is no empirical evidence that it will improve the incidences of problem gambling,” Mr Cairns said.

He said Woolworths was the first national hotel operator to adopt voluntary pre-commitment, a system that allows gamblers to nominate a maximum spend or time limit on a poker machine.

“We are the most responsible operator of gaming machines in Australia and we will have that validated by a recognised world authority from Canada that is coming down to audit us,” Mr Cairns said.

Machines

A former gambling addict told the AGM that she lost 10 years of her life to gambling and, while she no longer plays the pokies, she can’t go to the local pub and have a meal without feeling “the pull of the pokies room.”

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“I can’t go to your venues without my brain being triggered by your machines,” she said.

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“Those machines took something from me that I don’t know how to get back.”

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Mr Cairns said her personal story was “heartbreaking”, and the company was committed to ensuring people like her are looked after.

“The majority of people who use our facilities come there and have an enjoyable time,” he said.

“A minority of people have a problem and we have to address both.”

Anti-gambling advocate and Melbourne councillor Susan Rennie said Woolworths is the most aggressive and predatory poker machine operator in the country, and lobbies against changes that could make pokies safer.

“Woolworths the pokies people doesn’t have the same ring as Woolworths the fresh food people,” she said as she sought to gain a seat on the Woolworths board.

That effort failed, with only 2.9 per cent of shareholder votes in favour of Dr Rennie’s election.