The president of Hawthorn Football Club has announced the club has found a buyer for the WestWaters Hotel and Entertainment Complex in Caroline Springs, in a move to distance the club from gambling.
In a letter to members on May 18, Hawthorn club president Jeff Kennett said the sale was a part of the club board’s plan to strengthen finances and diversify investments.
“The time is right to make this change,” Mr Kennett said.
The former premier of Victoria also said the club had waited until the move to sell the hotel would not impact the club’s finances negatively and the best price had been secured.
The sale also marks the club’s attempt to move away from profiting from gambling revenue, as the club owns 165 poker machines across two Melbourne venues.
“As a board, we have been clear we would begin to move away from gaming… that time is now for WestWaters,” Mr Kennett said.
The WestWaters Hotel houses 90 of machines owned by the club, with the remainder located at the Vegas Club venue in Waverly Gardens shopping centre.
According to the Alliance for Gambling Reform, the club gained the highest gambling revenue of all AFL clubs in the 2019-2020 financial year, making $18.2 million.
A statement at the end of president’s letter said Hawthorn Football Club is a signatory of the Victorian Responsible Gambling Foundation and committed to reducing the harm caused by gambling.
Hawthorn chief executive Justin Reeves said the decision to sell the hotel would hold the club in good stead.
“A lot of work has gone into ensuring that this decision will set up the club for a very strong future,” Mr Reeves said.
The club has not revealed the identity of the buyer, but said the terms of the sale had been agreed by both parties and it was on track for settlement.
