The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Thomas Kierath - Barrenjoey Markets Pty Limited, Research Division - Analyst
: Just a couple of questions on the retail business. I'd be interested to know what happened with volume growth post the excise changes in February,
and whether that was a saw a slowdown there on volumes as a result of that?
Question: Shaun Robert Cousins - UBS Investment Bank, Research Division - Analyst
: Sorry, Steve, do you want to continue on with your answer? Or you're going to have my question.
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MAY 01, 2023 / 10:00PM, EDV.AX - Q3 2023 Endeavour Group Ltd Trading Update Call
Kate Beattie
Yes. So it's Kate here. I was just going to add one more comment in relation to the conversation about gaming and pre-COVID levels. What we're
talking about is share of total turnover as opposed to absolute dollars. So what we're commenting on is that our income mix in hotels is back in
what we would regard as normal proportions as opposed to the same period last year when gaming was the first income stream to come back to
post-COVID.
Question: Shaun Robert Cousins - UBS Investment Bank, Research Division - Analyst
: Got it. Fantastic. Maybe just, another question on hotels. Just the slowing of sales growth during the quarter, I think you were at 31.5% for the first
5 weeks, and then you've come in at 18.5%. So it looks like around mid-single digits in the back sort of 8 weeks. Should we anticipate that that's
kind of a run rate you can sustain? Or should that actually moderate? And particularly, are you seeing any -- is that reflective of the consumer shifting
from drinking out of home to drinking at home?
Question: Shaun Robert Cousins - UBS Investment Bank, Research Division - Analyst
: Just a second question on hotels. Are you seeing any sort of trading down in hotels by way of, I guess, a shorter visitation time, staying for a shorter
period of time, drinking fewer drinks when they're there? Are they trading down within the meals from stake to burgers, et cetera, there? I'm just
curious on sort of some of the things you're seeing on the consumer when they're spending time in your venues, please.
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MAY 01, 2023 / 10:00PM, EDV.AX - Q3 2023 Endeavour Group Ltd Trading Update Call
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