Investor Presentaiton
Victorian gaming entitlement reconciliation
$310m in Victorian gaming entitlements were renewed during the year, resulting in the initial recognition of a $279 million liability owing to the Victorian
Government. This represents the initial value of gaming entitlements less $31 million, which was prepaid in prior years. While available for immediate use,
the entitlements will be paid off over five years.
$m
P&L Impact
F18-19
F23
F24
F25 - F27
F28 - F32
F33
Total
Depreciation and
amortisation
Estimated Interest
(27)
(31)
(93)
(155)
(4)
(310)
(0.6)
~(9)
~(18)
~(0.2)
~(28)
expense
Cash Flow Impact
Deposit paid
(31)
Repayments of principal
(42)
(56)
(167)
(14)
II
Estimated Repayment of
(0.6)
~(9)
~(18)
~(0.2)
(31)
(279)
~(28)
interest
Balance Sheet Impact
Borrowings
(237)
56
167
14
Prepayments
31
(31)
Intangibles (licences)
310
310
Accumulated
(27)
(31)
(93)
(155)
(4)
(310)
amortisation
endeavour
group
Notes:
• $31m p.a Depreciation and amortisation started from Aug 2022
($310m over 10 years). This replaces a previous entitlement.
The incremental impact to Depreciation and amortisation is
~$14m p.a.
Estimated interest expense based on current interest rate (10
Year Commonwealth Bond Rate)
• $31m prepayment made in F18-19
• First payment of the 5-year instalments started
from June 2023 ($42m). ~$56m p.a. from F24 onwards
Estimated interest expense based on current interest rate (10
Year Commonwealth Bond Rate)
• First payment of the 5-year instalments started
from June 2023 ($42m). ~$56m p.a. from F24 onwards
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