Although gambling is one of the most popular pastimes in Australian culture, spending in the industry has fallen to an all-time low. Thanks to the global economic crisis, local residents have had to cut back on their entertainment budgets, which means that the gambling market has taken a huge hit.
Fortunately, the industry is beginning to see some recovery, as residents of resource-rich areas are beginning to spend more on pokies. Queensland is Australia’s mining capital. The state is rich with resources, providing thousands of individuals with valuable jobs. Coal, petroleum, gems and minerals can all be found in the area, making professionals working in the area quite well-off.
As such, Queensland residents have more money to spend on their leisure budgets, and a portion of that is spent on gambling. “Some areas, particularly where there is resource extraction, have seen strong growth," says Justin O’Connor, CEO of the Queensland Hotels Association. According to Central Queensland News, several cities in the state are seeing huge improvements in their gambling markets.
In particular, Mackay has seen some generous growth, experiencing a $7.5 million increase in spending over the course of 2011. The city’s overall gambling spending totalled $82 million for the year. The Queensland Liquor and Gaming Office also noted that Ipswitch fared well, bringing in $79 million, as well as the Sunshine Coast, which saw $105 million in pokies revenue in 2012.
After a difficult financial time, it seems that things can only go up from here. It is not only in resource-rich areas that Australians are beginning to earn more income; other states across the country have seen a jump in employment rates, meaning there will be more disposable income to spend on gambling and other entertainment industries.
Queensland hopes to capitalize on this trend by boosting its gambling market even further. Over 100 applications for new poker machines have been approved, as local venues hope to see more miners spending money on pokies and other gambling activities.