Perth Red
Post Whore
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I guess that why they were hoping to sell the current spot for development, move somewhere cheaper and use the profit to set themselves up for the future?The Paceway in 2019 (being the last full financial year before Covid) ran at a loss of $142k off a revenue base of $8.3m ($120k profit before depreciation).
Per para 13.2 of the financials pokie profit was $882k.
Essentially despite having little in the way of financing costs it can't turn a profit and would be $1m loss without the reverse ATMs.
How does it expect to survive at the current site or even a new one?
Outside of building a new casino with a track outside for legitimacy it's in purgatory.