slowdown benefits Australia - February 2015
Chinas anti-corruption crackdown continues to
deter high rollers from gambling in Macau, the top
two operators in Australia are reaping the benefits.
Resorts, Australia's biggest casino operator by market
value, said this week that revenue from VIPs gambling
at its Melbourne casino nearly doubled in the last
six months of 2014. Rival Echo Entertainment Group
also said VIP gambling in its Australia casinos hit
a record in the same period.
boost comes as Crown, half-owned by Australian billionaire
James Packer, and Echo step up their domestic rivalry.
Crown is building a US$1.56bn casino a short walk
from Echo's newly refurbished Sydney waterfront complex,
while the pair are also vying for government approval
to build a casino in Brisbane - an Asian tourism hotspot.
no doubt been some diversion from Macau," Crown
chief executive officer Rowen Craigie told an analyst
briefing. "You don't want to over-emphasise that
but clearly those more distant destinations have benefited."