By Ian Neubauer
Pub operator National Leisure and Gaming (NLG) has been contracted to provide management and consulting services to three of the Hedz Liquor pubs in NSW – The Prospect Hotel, The Kincumber Hotel and The Lakeview Hotel.
“We are pleased to announce that we will be managing three of the Hedz liquor venues with a view to managing Hedz Liquor’s portfolio by the end of this year,” said NLG chief executive, Andrew Jolliffe. “This will be a fee for service arrangement, focusing on improving operating and financial performance.”
Added Hedz liquor managing director, Tom Hedley: “Hedz liquor has witnessed first hand the success NLG has brought to their hotels particularly in the gaming sector. We look forward to working closely with the NLG group as they initially take over the management of three of our venues in NSW,” he said.
The announcement follows NLG’s reporting of a 12 per cent increase in gaming revenue compared to the previous year as consumers being to adjust to smoking laws.
However, the group’s overall financial performance has been less lackluster. Last week it announced a loss of $8.5 million for the half-year ended December 28 an increase in lease expenses, financial costs and depreciation costs.
NLG shares also remain in a trough, trading at .6 cents at midday today (Mar 4).