Cashless gambling part of a natural ‘evolution’, says Endeavour boss

“The time for trials is over, the time for delivery is now,” Perrottet said last week.

The Endeavour chief, who oversees more than 12,500 poker machines across 300 hotels, was eager to highlight the social aspect of its licensed venues as a destination for dining, music and entertainment.

“That’s the nature of pubs, right? They’re multifaceted. A hotel is not just a gaming room,” he said. “A hotel is a place where people go to socialise and participate in a variety of activities, and most importantly amongst them, I think, [is] socialising.”

Endeavour will seek to work with governments and regulators to meet community expectations of the Australian population, which Donohue described as a “broad church”. The $12.6 billion business has conducted “listening groups” across regional Australia and formed community advisory committees in Darwin and other areas.

“What we do is play an active listening role to understand in each of the places that we operate, what the right thing to do there is.”

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As Australians contend with nine interest rate rises in a row with the prospect of more, Donohue is hoping the breadth of Endeavour’s portfolio and range of products at its Dan Murphy’s and BWS stores will mean Australians continue to spend, despite cost of living pressures, by offering consumers options at all price points.

“People may be more thoughtful about where they buy their alcohol and they may have a tendency to rely more on the price guarantees,” he said.

In the first half of the 2022 financial year, Endeavour Group’s net profits after tax rose 17 per cent to $364 million compared with the same period the previous year. Sales rose 2.6 per cent to $6.5 billion, while group earnings before interest and tax rose 15.8 per cent to $644 million.

Earnings from its retail division fell 9.3 per cent while its hotel business earnings more than doubled, from $121 million to $256 million, as people flocked back to bars, pubs and restaurants instead of drinking at home.

The company has also lifted dividends to 14.3 per cent a share, representing a 14.4 per cent increase on the previous period.

Investors were cheered by the strong results, lifting Endeavour Group’s share price up 4.11 per cent higher to $7.10.

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