Shares in Australia’s Largest Pub Owner Hit All-Time Low as New Slot Restrictions Announced

  • Users of slots will now have to register for an ID card
  • Strict deposit limits will also be in place for gameplay
  • Endeavour Group’s share price fell 10% on Monday
Slot machines
New restrictions on slot machines in Victoria have led to the share price of Australia’s biggest pub owner plummeting. [Image:]

The government in Victoria has revealed significant new regulations for people using slot machines (known as “pokies” in Australia). Among the surprise changes, slot players will have to register for an ID card in an attempt to prevent money laundering, while slots will also have a loss limit to help combat irresponsible gambling.

Users will only be able to deposit AU$100 (US$68) at a time, down from the previous AU$1,000 (US$682) limit. All venues housing these machines, except for the Crown Melbourne casino, will have to close their gaming sections from 4am to 10am each day.

Australia has the highest levels of problem gambling worldwide and houses about 20% of all global slot machines. Many of these machines are found in restaurants and pubs.

The share price of Endeavor Group, the biggest owner of pubs in the country, fell to a record low on the back of the news this week. The company also holds more slot machine licenses than any other organization in the nation. The price fell 10% on Monday, finishing at AU$5.64 (US$3.84) for the day.

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