Club Sapphire Merimbula on the NSW South Coast hopes to build the tourist accommodation to create a new revenue source as gaming revenue declines.
Club Sapphire Merimbula plans to build a 100-room hotel in the popular NSW South Coast holiday spot as it looks to establish new income streams to offset declining gaming revenues – a strategy it believes other clubs will soon also have to consider.
While gaming still accounts for about 45 per cent of the club’s revenue – it was around 50 per cent three years – in 10 to 20 years’ time, that number is expected to fall below 40 per cent .A spokesperson for ClubsNSW, which represents 1270 venues across the state, said NSW clubs were increasingly investing in diversification projects to reduce their reliance on gaming revenue – “a trend that ClubsNSW strongly encourages its members to follow.
“We’re putting ourselves in a position, as interest in gaming declines, to backfill that revenue,” he said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Up to 100 homes in limbo as builder faltersOne of Perth’s biggest builders appears to be on the ropes financially as the Australian Taxation Office issues it with a wind up order.
Read more »
Margot Robbie tops Aussie ‘Hottest 100’ listAustralian actress Margot Robbie has been named by MAXIM magazine as Australia’s hottest woman – for a record-breaking fourth time.
Read more »
‘Haven’t got a clue’: Club left in lurch as potential prices revealed for tricky dealsAFL: The Fox Footy Trading Day crew believe Collingwood has picked up a bargain buy by trading in Fremantle's Lachie Schultz.
Read more »
Every NRL club’s roster state of play as Nov 1 set to trigger feeding frenzyRugby League: Wigan are Super League champions for the first time since 2018 after a hard-fought 10-2 win over Catalans Dragons in the Grand Final.
Read more »
Melbourne property tycoon Robert Brij takes control of A-Leagues club Perth GloryThe club, formerly owned by West Australian businessman Tony Sage, informed staff of the new owner on Tuesday afternoon.
Read more »
From unlikely saviours to the overnight cult hero: Every club’s 2023 breakout starRugby League: Wigan are Super League champions for the first time since 2018 after a hard-fought 10-2 win over Catalans Dragons in the Grand Final.
Read more »