New Zealand’s Department of International Affairs recently revealed that profits garnered from gaming machines have increased by 130.7m NZD or 116% as compared to the figures from the second quarter. Total Q2 profits produced by the sector reached 112.6 m NZD while Q3 profits came to 243.3m NZD.
This surge in growth can be directly linked to the lifting of COVID-19 restrictions with players being allowed to return to visiting class 4 venues, including pubs and clubs.
According to the department, “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.”
Unexpected gains
The Q3 figures represent a much-improved increase in Gaming Machine Profits (GMP), in comparison to the period spanning June and September over the past five years, where the average was about 3%. September saw revenue 8% higher than what was projected. This data is sourced from the March 2020 quarter and other historical statistics.
Looking at 2020 holistically, the 12-month gaming machine profits came to 800.9m NZD for Q3, representing a 0.2% drop from 802.4m NZD in the previous quarter. At the moment, there are about 1068 venues in the country, indicating a 0.6% decline from Q2.
Pokies strike back
Online casinos have seen phenomenal growth and are a dominant force in the casino industry; however, land-based venues still provide thrilling real-world entertainment for thousands of Kiwis. As the number of pokies both online and offline continues to rise, national pokie machine expenditure has increased proportionately every year since 2014.
Data released by the Department of Internal Affairs (DIA) reveals that in the 2018-19 financial year New Zealand’s pokie expenditure climbed to a record high of 939m NZD. At this point, there are approximately 15,000 gaming machines across New Zealand that collectively bring in close to 2,572,602 NZD a day.
Kiwis have taken well to the option of virtual pokies thanks to the vast array of conveniently accessible options. Whether they are after a relatively casual gaming experience or high-stakes progressive jackpot action, there is a game to suit every taste that New Zealanders can easily play from any standard or mobile device.
The internet gambling sector continually achieves surprising levels of growth thanks to ever-evolving technology and matching innovation from developers. Many more online casinos and entertaining pokies will emerge in the years to come to cater to a growing market with increasingly sophisticated demands. Unfortunately, this explosion of growth will attract unscrupulous operators who attempt to exist beyond or circumvent laws and regulations and will often make off with their customers’ cash, leaving few avenues of reprisal for duped punters. It is then, essential for online gamblers to do their research and ensure that they only interact with reputable, licensed casinos.
Money Laundering Allegations
