Gambling income drives revenues at AFL’s Carlton FC

The Carlton AFL club has posted operating revenue of $77.7 million for the financial year ending 31st October - a rise of 36% on the previous year - delivering a $2 million profit.

The Blues’ total revenue was actually $92.7 million when accounting for Victorian Government grants committed to the redevelopment of its IKON Park base as well as philanthropic contributions. With these figures included the results showed a total profit of $17 million, contrasting with the 2020/21 financial year when a profit of $20.2 million was posted.

The return to matches in front of crowds helped club revenue across most categories with particular growth in hospitality, membership, gate receipts and sponsorship.

The partner roster delivered $16.5 million in revenue up significantly (48%) on the previous year when it reported income of $11.1 million from sponsors.

However, at a time when many sporting clubs are moving away from income from gaming machines - including Hawthorn, Melbourne and the Western Bulldogs - Carlton’s 300 gaming machines contributed more than $20 million in income to the Club, an increase of 56% on the previous period and its biggest source of revenue.

While Carlton has previously expressed its intent to step away from operating venues with gaming machines, it recently renewed its gaming machine entitlements for 10 years at its licensed facilities which are operated by ALH and O’Brien Group.

The financial year also saw Carlton enter the AFLW competition and key backers, Great Southern Bank and Hyundai expanded their deals to include the women’s program.

The return of events for Carlton IN Business (CIB) - considered by some as one of the best corporate networks in the AFL - also boosted revenue this year.

Carlton saw 9% growth in membership which topped at 88,776 for the year and average home-crowd attendance was 49,784, ranking number one in the AFL.

The completion of the IKON Park redevelopment also improved the Club’s balance sheet, up 31.5% to $103 million with $15 million listed in its current assets.

Carlton’s total equity position at the end of the period was $56.8 million.