Jackson said the club was in a position to get out of the gaming industry and had time to make up the revenue shortfall.
‘‘For this football club,this is the best time to get out,’’ he toldThe Age. Melbourne’s view is that the club is in a growth phase and that while this is the case,it will be able to cover the loss of gaming.
Jackson said the club would not use the proceeds to retire debt because the Demons already had plans to wipe off that debt in normal operations over the next three to four years.
‘‘We took a view a couple of years ago to take a deep look into the industry. We took the initiative,went out to market and are happy with the result.
‘‘If you take the gaming revenue out of the equation,we need to make up 10 per cent of our overall revenue. Over a two- to three-year period,we will be able to readjust and grow,and we have several ideas on how to do that.’’
Demons chairman Glenn Bartlett said this was a ‘‘significant day for the football club’’ and that ‘‘community sentiment’’ had played a part in the decision.
‘‘There has been no pressure or financial assistance from the AFL,’’ he said. ‘‘This was the best business decision for our football club. The club is in the strongest financial position it has ever been in,and that is thanks to a lot of hard-working people.’’
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The Demons told the AFL of their decision to quit pokies on Tuesday evening,although the AFL had been aware of their plans for some time. While Goyder has been public in his distaste for pokies,the AFL wanted to be assured that the Demons would not be hurt financially.