New Zealand’s Department of Internal Affairs (DIA) recently reported that the country’s gambling industry has experienced positive results from the fiscal year. The department revealed a 17% year-on-year increase in gambling spend over the past year.
This rise in revenue is good news for the country as it means more money for the government and positive effects on the economy.
The DIA specified that the fiscal year 2020-21 saw national gambling spending of$2.63 billion, a 17% increase from the previous year and a five-year high for the nation.
Pokie Power
A large chunk of this intake is generated by pokies outside of area casinos. The Class 4 operations segment that encompasses clubs and bars increased its takings by 23% to $987 million. The TAB racing and sports betting segment also experienced improvement with its 1% increase resulting in $385 million.
Lotto products in the country took in $694 million, 10% more than the year before while casinos reported an overall increase of 11% with $559 million in revenue.
Mitigating Harm
The Problem Gambling Foundation Spokesperson, Andree Froude has framed this increase as problematic, saying that the average gambling spend per adult 18 years old or older comes to $662 a year, diverting money away from other more essential purchases.
The DIA has thrown its weight behind politicians calling for an overhaul of pokie legislation amid rising concerns that they pose a threat to society. This has not yet prompted the government to take more decisive action and direct more resources toward reviewing the current situation.
The DIA also recently initiated a review into gambling harm and how it could negatively affect the legal market. To this end, the government has requested feedback from public consultations regarding pokies, allowing consumers to weigh in on and potentially influence the matter. These consultations will launch on March 17 and run until April 28.
