A STAGGERING $62 million was lost by punters on pokies in Frankston over 12 months according to figures released last month by Victoria’s gambling regulator.
Victorian Commission for Gambling and Liquor Regulation data shows losses reached $62,408,098 for the 2016-17 financial year to the end of June.
The total was lost on 509 electronic gaming machines at nine venues throughout the municipality.
Alliance for Gambling Reform director Tim Costello said pokies losses of $2.61 billion across the state showed it is time for politicians to step up and stem the flow of money being “drained” from communities.
“This time last year we surged through $50 billion in total Victorian losses and in this 25th year of dangerous pokies, another $2.61 billion of harm has been inflicted,” Mr Costello said in a statement.
“Measured in 2016 dollars, we are now up to $67 billion in losses and if we keep this up for the next 25 years, these addictive devices will drain another $70 billion from victims.”
This 2016-17 losses in Frankston were down slightly on 2015-16’s total of $62,900,685.
The Labor state government announced last week that venues “that earn the most from pokies” will pay more tax from August 2022 onwards.
The tax revenue will be directed to Victoria’s Hospitals and Charities Fund, the Mental Health Fund, alcohol and drug treatment services and the Victorian Responsible Gambling Fund.
“The price and tax rates that we have announced are fairer and will secure important funding for health and community projects across Victoria,” Victorian Gaming and Liquor Regulation Minister Marlene Kairouz said.
“Our pubs, clubs and hotels employ thousands of Victorians and this announcement will give them the certainty they need to plan and invest in the future of their local communities.”
Venues earning above $6667 per machine each month on average will be taxed at higher rates.
