Munday's Whale of a Pub Sold ...

By Annette Shailer

The last of Geelong pub baron Rick Munday’s hotels has been sold, with The Whaler’s Inn in Warrnambool bought by a Victorian publican for $5.1 million.

Operator of the Flying Horse Bar and Brewery in Warrnambool and the Victory Hotel in Port Fairy, Graeme Roger, snapped up The Whaler's Inn located in Victoria’s south-west.

The Whaler’s Inn’s poker machine entitlements attracted a high price during the Victorian Government’s auction to break up the gaming duopoly of Tatts and Tabcorp, which finished in May.

The venue’s 34 gaming entitlements sold for $130,500 each, compared the state average price of $37,000 per 10-year licence gaming machine entitlement.

Melbourne Racing Club bought the Munday Group’s seven other hotels earlier this year for $50 million.

The seven venues purchased include: Melton's Golden Fleece Hotel, the Golden Nugget in central Melbourne, Carlton's Players on Lygon, the Grand Hotel in Frankston, Prahran's Court Jester Hotel, the Sugar Gum in Sydenham and Patterson Lakes' The Cove.

For a full list of the gaming machine entitlement outcomes, click here.
 

[Fri 09/07/2010 02:04:24]