Time To Hit The Beach?
Forbes India|October 14, 2016

Flush from a run at the Asian VIP casino take, Aussie operators gird for a wider resorts battle.

Muhammad Cohen
Time To Hit The Beach?

Australian casinos are all-in on Chinese. Last year, for the first time, the Lucky Country welcomed more than 1 million Chinese visitors, many eager to try their luck on trips for business, visiting relatives or sightseeing. The Chinese, particularly high rollers, have buoyed Australian casinos even as Macau’s ‘VIP’ gambling revenue has been cut in half.

President Xi Jinping’s anti corruption crackdown that’s devastated Macau may have initially helped Australia, but the game is changing. Now, as elsewhere, it’s shifting to resort attractions for a wider market, with two big domestic rivals leading the chase.

Those would be Crown Resorts, 53 percent owned by billionaire James Packer, and The Star Entertainment Group, formerly Echo Entertainment, which grew out of the old Tabcorp state gambling franchise. A distant third player in most counts of the Aussie action is SkyCity, with properties in Adelaide and Darwin and three in New Zealand.

The groundwork for this battle was laid in a three-year run during which the key Aussie casino operators racked up 58 percent gains in their ‘international commission business’ betting volume—to $92 billion by fiscal year 2015, which ended that June. Morgan Stanley estimates that by then Australia had 8 percent of the world’s VIP gambling revenue, or casino win.

“Players from all Asia regions, particularly Chinese players, have provided the growth in the market and made up for any falls from local players in what’s been a tough Australian economy in recent years,” says Global Market Advisors partner Shaun McCamley, formerly a senior casino executive in Australia and east Asia.

هذه القصة مأخوذة من طبعة October 14, 2016 من Forbes India.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة October 14, 2016 من Forbes India.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من FORBES INDIA مشاهدة الكل
Home-Cooked Meal Is Now Greatly Valued
Forbes India

Home-Cooked Meal Is Now Greatly Valued

The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients

time-read
8 mins  |
May 21, 2021
Paytm 3.0 - Reaching Near Breakeven In Two Years
Forbes India

Paytm 3.0 - Reaching Near Breakeven In Two Years

As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years

time-read
10+ mins  |
June 4, 2021
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Forbes India

THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN

Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse

time-read
8 mins  |
May 21, 2021
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Forbes India

LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE

Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment

time-read
7 mins  |
May 21, 2021
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Forbes India

PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST

Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground

time-read
9 mins  |
May 21, 2021
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
Forbes India

INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR

While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term

time-read
8 mins  |
May 21, 2021
DIGITALISATION WILL HELP IN VALUE CREATION
Forbes India

DIGITALISATION WILL HELP IN VALUE CREATION

As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India

time-read
8 mins  |
May 21, 2021
Industry 4.0: Climate Revolution?
Forbes India

Industry 4.0: Climate Revolution?

Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent

time-read
10 mins  |
June 4, 2021
EV Dream Still Miles Away
Forbes India

EV Dream Still Miles Away

Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure

time-read
6 mins  |
June 4, 2021
Living Waters
Forbes India

Living Waters

A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of life’s breath on this planet

time-read
4 mins  |
June 4, 2021