Ann: F23 Results Investor Presentation, page-22

Cost trajectory is an imprecise science, said the CEO. Two biggest for EDV are wages (rapid change) and rents more glacially.

EDV feels a degree of confidence and has a demonstrated track record in managing inflationary cost.

Activity-based rostering is the most material part of cost reductions but increasingly it'll be linked to the One Endeavour program. He again mentioned how some of its technology was end-of-life so if EDV can address, good.

With hotels, 2H 23 was largely 'clear air' said an analyst: are all the cost rises known, such as increased amortisation and the increase in the Victorian gaming tax. EDV is also paying staff 5.75 per cent more per hour to staff as a result of the Fair Work Commission decision: EDV must also concentrate on maintaining customer experience as otherwise 'the publican down the road' will trump us.

In FY 24, live events/entertainment should further rise. (Much earlier, the CEO mentioned the Matildas' game tonight!)

In 2H 23, the tax rate was 33.5 per cent, but it wasn't representative: the CFO said we should expect it normally to be 31-32 per cent over the full year.