ARL takes a punt and buys one of Brisbane’s most famous hotels
The Australian Rugby League Commission has purchased one of Brisbane’s most famous hotels.
On Monday, the League delivered a statement announcing the purchase of Gambaro Hotel on Caxton Street, which is just metres from Suncorp Stadium.
The Gambaro Hotel as described on its Instagram page, is a "luxury hotel" with a seafood restaurant.
However, that may change as the League Commission looks to build out its brand.
"The transaction represents the Commission's first investment to strengthen the game's financial position and acquire assets that protect the game and provide new revenues for reinvestment in the game," the Commission stated.
The move has come as it looks to combat any COVID like disruptions that hurt existing revenue streams.
"The ARLC has a focus on strengthening its balance sheet with stable, secure investments that provide steady income, long-term capital growth and to protect the game against major interruptions.
"The hotel is ideal for the NRL as it's located 300 metres from Suncorp Stadium."
There are plans for the new owners to rebrand the hotel as "NRL" and individual rooms will be renamed after rugby league legends such as Wally Lewis.
The restaurant will continue to be operated by Gambaro family.
Irit Jackson, 5th July 2022
