Competition for the recreational dollar continues to be firm however our results for the past 12 months remain sound. Gross income from all sources prior to adjustments for promotional prizes was up slightly to $1061159, an increase of $3840.
Result is considered good as last year’s results obtained some benefit of the government’s stimulus package and the economy which has an impact on us showed little change over the trading year.
To assist with the income we participated in promotions run by our supplier B.S.G. Lucky Leprechaun and Wild Outback. These proved popular with our patrons but there is a cost attached. Pressure continues in all areas of expenditure, the main items being wage costs, the wage rise during the year was expected but some of the award changes were not, these mainly relate to penalty rates and public holidays. Cost of Bingo stationary also increased during the period. All expenditure items are closely scrutinized.
As in previous years we continue to seek high level of customer ’s service, this along with the quality of the venue and car parking assist us to differentiate from our direct competitors.
The changes to legislation are now filtering through to changes in rules. One of the changes that have come through is electronic bingo. This has again given us a point of difference from our direct competitors and has proven to be popular with existing patrons and assists drawing new people to play bingo. Paper bingo remains our core product but it is pleasing to be able to offer variations such as this. It is anticipated further changes will occur in the future.
This year we have been in a position to pay a dividend to the G.D.F.L of $100,000. (Some payments made after 30th September 10).
On behalf of the team at Raiders we would like to thank the league for their ongoing support, as always, it is very much appreciated. To the clubs your support is also appreciated.
Russell Enders - Bingo Manager
