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SBD Global/December 5, 2013/Finance

Australian Football League Carlton Doubles Its '13 Gaming-Related Revenue

Australian Football League side Carlton's annual report revealed the club "more than doubled its gaming-related revenue" in '13 to A$19.7M ($17.8M), according to Baker & Edmund of the HERALD SUN. The "jump in revenue" -- up from A$9.5M in '12 -- did not "result in a large profit for the Blues this year, in part because of short-term costs associated with the club's increased investment in gaming." The report noted that "member venue costs" jumped from A$7.5M to A$17M as the club recorded a A$528,000 profit for the year ending Oct. 31. Gaming machine "entitlements for 290 machines came into effect in August 2012, and the club will make payments on those entitlements over the next four years." Victorian AFL clubs own 18 gaming venues and 1,317 machines, "with North Melbourne the only club in the state not to make money out of gaming." Carlton's A$19.7M in gaming revenue this year "represents more than a third of its total revenue" of A$57M (HERALD SUN, 12/4).
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