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High rollers returning to Australia’s shores

VIP gamblers are returning to Australia in droves, with junket groups registering considerable increases in VIP volumes at Crown Melbourne and The Star.

In a note made public by The Australian, Morgan Stanley equity analyst Monique Rooney said the improved volume was attributed to the recent release of Crown employees from prison in China after they were detained last year for illegally promoting gambling services.

She noted that junket operators saw increases in VIP volumes over the past several months since the beginning of the new financial year.

“Specifically, junket operators spoke to a material improvement across both Crown’s Melbourne and The Star’s Sydney properties in recent months versus the VIP volume lows seen in 2017,” she said.

The brokerage said it believes Australia’s VIP casino sector could grow 9.4 percent in 2018. It has also upgraded its forecasts for the country’s two local casino operators.

More news from this jurisdiction

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A new agreement signed between Victoria police and international integrity body ESSA (Sports Betting Integrity) is set to assist authorities in targeting suspicious betting activity and deter betting-related match-fixing.

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British bookmaker William Hill is considering the sale of its Australia business, citing rusing costs and mounting regulatory pressures.

AustraliaTuesday, Jan 09, 2018

The Tasmanian Liberal Party has promised to keep poker machines in Tasmanian pubs and clubs if it is returned to power in the upcoming March election.

AustraliaFriday, Jan 05, 2018

Geoff McDowell, the managing director for Asia Pacific and global gaming general manager, at SUZOHAPP, left his position at the end of the year to take up a senior position an an unnamed company nearer to his hometown of Melbourne.

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Aristocrat has launched a new Game of Thrones slot machine game, created specifically for the flame cabinet.

AustraliaThursday, Dec 21, 2017

The Liberal National Party has vowed to oppose the inclusion of a casino in plans to develop the Maroochydore Central Business District on Australia’s Sunshine Coast, local media reports.

AustraliaTuesday, Dec 19, 2017

The Tasmanian Labor Party’s threat to pull pokie machines from bars and clubs will result in a loss of jobs and a $31 million hole in the state budget, according to The Gaming Technologies Association.