Australia’s Star Entertainment said it will now be able to host up to 10,000 guests in its casino areas in Sydney following the easing of Covid-19 mandated restrictions.
The Star Sydney – Further easing in security restrictions (Company filing)
Star Entertainment has reportedly decided to stay clear of any effort to join a bidding war to gain control of troubled Crown Resorts.
Shares in tourism-related stocks in Australia bounced on Thursday after the government announced a A$1.2 billion ($928 million) stimulus package that includes 800,000 subsidized half-price airfares.
Outside of the global pandemic, the trade war between Australia and China is casting another dark shadow over Australia’s already-strained VIP gaming industry, prompting operators to start looking elsewhere for recovery.
Matt Bekier, chief executive of Star Entertainment Group said his firm would try to boost its appeal to international tourists, once the borders were open again, to develop a new market by stepping up its pitches to VIP gamblers in Asia through its offices in Singapore and Hong Kong.
DFS Group will anchor the retail offering at Star Entertainment's under construction Queen's Wharf project in Brisbane, with a three-level T Galleria hosting some 100 brands.
Star Entertainment is likely to benefit from expected delays to Crown Resorts’ ability to open a casino in Sydney and its current share price presents a good buying opportunity, J.P. Morgan said in a report.
The New South Wales government is permitting eased operating restrictions on businesses including Star Sydney from today, reflecting the fact that the Covid pandemic has subsided for the time being in the local area.
Star Entertainment has given a vote of confidence to the potential of the Gold Coast’s tourism industry, pressing ahead with plans to build a A$400 million “Tower for Tourism” despite the Covid-19 crisis.
The Star Entertainment Group said it is pushing ahead with a $400 million "Tower for Tourism" on the Gold Coast, with construction set to begin in coming weeks.
Star Entertainment Group has announced that, in accordance with directives from the New South Wales state government, tighter social distancing and other measures have been reinstituted at Star Sydney.