Answering questions, on the gaming profile, in Victoria, EDV grew ahead of the market. In Queensland, EDV is lagging the market, as clubs are outperforming pubs and rural areas are outperforming metropolitan, but EDV is over represented in metro Qld v rural cities.
EDV's capex gives it confidence it can improve takings.
In the first seven weeks, in hotels, accommodation is the strongest driver but food and beverages is going pretty well.
The industrial relations problems of WOW affected EDV nationally: there were challenges in stocking Pinnacle 'entry value' products. The disruption gave a free kick to anyone who had a supermarket that wasn't WOW with a liquor store attached. Continuing to see problems in Victoria.
However Dan Murphy's did not miss a beat: staff helped shoppers choose alternative products if the one they initially wanted was out of stock.
With the property developments, EDV is not a property developer: someone else does that. EDV will partner. The valuations are a somewhat conservative estimate.
EDV Price at posting:
$4.27 Sentiment: Hold Disclosure: Held
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