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Follow on Google News | Is the pub sector really in trouble? Hospitality accountants weigh inBy: Sky Accountants In 2018, there were 742 gaming machines in 38 pubs and clubs in Tamworth, which meant each machine drew a profit of $43,422.82 on average. Tamworth's pokies paid over $5 million in tax last year. Poker machine gamblers in New South Wales have lost a record amount of $18.7 million per day in 2018, amassed on 93,165 poker machines. Pubs and clubs are great venues to socialize at. There was concern that gambling had almost reached a saturation point in the country with cross-platform advertising and apps that make gambling easier. This year, small bars and pubs with premium drink and food offerings were expected to perform well while pubs that depend on pokies revenue were projected to come under pressure from tightening regulations. Owners are urged to let other revenue streams in to offset any impact on the business. It would be prudent to speak with hospitality accountants (https://www.skyaccountants.com.au/ However, investors remain optimistic, saying the current market conditions are challenging but also cyclical, presenting a great buying opportunity. The environment is said to be stable and collaborative with positive initiatives that may even enhance the industry. Pubs sold to the Woolworths-controlled ALH Group and Cole's Liquorland at yields below 6 per cent in 2018, reflect confidence in the market as well. As you look for different ways to grow and improve your business (https://www.skyaccountants.com.au/ You can click here (https://www.skyaccountants.com.au/ End
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