Gold Coast pubs and pokies billionaire Bruce Mathieson has one eye on expansion in wake of deal with Woolworths

Billionaire pubs and pokies king Bruce Mathieson sees strong expansion opportunities — including on the Gold Coast — to acquire new hotels in the wake of Woolworths taking a step towards exiting its drinks business.

Bruce Mathieson will get to do more refurbishments - such as of the former Liars Bar now The Broadbeach (pictured), in the wake of the formation of a new pubs, pokies and hotels business. Picture Glenn Hampson

BILLIONAIRE pubs and pokies king Bruce Mathieson sees strong expansion opportunities — including on the Gold Coast — to acquire new hotels in the wake of Woolworths taking a step towards exiting its drinks business.

Woolworths announced on Wednesday it would merge pubs, pokies and hotels owner ALH Group with its Endeavour Drinks business by the end of the year, ahead of divesting the new business next year.

Hedges Ave resident Mr Mathieson, who has a 25 per cent stake in ALH and 30 per cent economic interest, has emerged with a stake worth $2 billion in the new Endeavour Group.

The new business has 327 hotels and 1565 Dan Murphy’s outlets across Australia in its portfolio.

Billionaire pubs and pokies king Bruce Mathieson. Picture: Russell Shakespeare

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On the Gold Coast, ALH Group’s assets include the Lonestar Tavern, Miami Tavern, Surfers Paradise Tavern & Beergarden, Dublin Docks Tavern, Hinterland Hotel, South Tweed Tavern, Parkwood Tavern, The Palm Beach Hotel, Burleigh Heads Hotel, Varsity Lakes Tavern, Commercial Hotel, Anglers Arms Hotel, Cecil Hotel and the Dog & Parrot Tavern.

Mr Mathieson told the Bulletin yesterday that “opportunities exist everywhere”.

“We have been long-term players in the industry for many, many years and we don’t see that diminishing at all.......and we will be looking (for new opportunities).

“I think there will always be opportunities around the Gold Coast, there is no doubt about that. I live here and I love the place and we see great things for the Coast.”

The Surfers Paradise Beer Garden is being redeveloped by ALH.

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ALH recently has been pushing ahead with refurbishment of its Gold Coast assets, including recently Anglers Arms, The Broadbeach and Surfers Paradise Tavern & Beergarden.

“We’re now going back into the hotels and refurbishing them. The former Liars bar (now The Broadbeach), it's a class place now, I think you would say Anglers is the same. We are rebuilding Miami (Tavern) at the moment — that’s a complete rebuild that will be brilliant,” he said.

“It is a never ending cycle with hotels.”

Mr Mathieson said pubs and hotels remain an integral part of Australian society.

“It has been a part of our society for so long — it is a great thing and we think if you refurbish them and do well you will do well,” he said.

Mermaid Beach resident Bruce Mathiesonhas been involved in the hotels, pubs and pokies business for decades.

“You have to keep them up to scratch.”

Mr Mathieson said it makes sense for Woolworths to take a step away from the hotels business.

“Now we will concentrate solely on the hotel and liquor side of it. It will be of great benefit to Woolworths and our business, that is how we see it.”