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

AustraliaThursday, Dec 14, 2017

Aristocrat Leisure Limited has announced the appointment of Ms Julie Cameron-Doe as its new chief financial officer, subject to regulatory pre-approvals.

AustraliaThursday, Dec 14, 2017

Comtrade Gaming has announced that their G2S Protocol Engine is now a part of Tatts Group’s newly implemented MAXsys monitoring system for New South Wales, Australia.

AustraliaWednesday, Dec 13, 2017

The Supreme Court of Victoria has approved the scheme of arrangement for the combination of Tabcorp and Tatts Group.

AustraliaMonday, Dec 04, 2017

Australia’s online bookmakers are stepping up their efforts to sway government leaders in Victoria from adopting a point of consumption tax.

AustraliaFriday, Dec 01, 2017

A Sydney council has become one of the first to call on the NSW state government to put a cap on poker machine licenses in its area.

AustraliaThursday, Nov 30, 2017

CrownBet has agreed to no longer impede the US$8.3 billion Tabcorp Tatts merger, after reaching a settlement agreement with the wagering giant.

AustraliaWednesday, Nov 29, 2017

South Australia Deputy Premier John Rau said he has received “disturbing” reports of online gambling providers enticing children and other vulnerable people to gamble, local media reports.