As many as 90 percent of gaming venues surveyed in the recent J.P. Morgan 12th Annual Slot Survey said they intend to maintain or increase their slot replacement spend over the next year.
Analysts are not convinced that Australia’s Crown Resorts, despite all of its failings, will be stripped of its Melbourne casino license. Simply put, the state’s economy has enough of a battle with lockdowns and there are enough jobs at risk without the casino closing already.
Crown Resorts is unlikely to have its casino license in Victoria revoked, despite a bombshell recommendation from Victorian Royal Commission counsel Adrian Finanzio to strip the casino of its license last week, according to industry experts.
The Star Entertainment Group, who was all so gung-ho about a tie-up with rival Crown Resorts, has now clawed back its merger proposal, citing uncertainty in Crown being able to retain its Melbourne casino license. It comes only days after a royal commission inquiry recommended the stripping of Crown’s license in the state.
The Star Entertainment Group has retracted its proposal to merge with rival operator Crown Resorts, citing uncertainty in Crown being able to retain its Melbourne casino license.
Analysts from J.P. Morgan believes that Crown is likely to retain its licenses in Victoria and Western Australia, despite the royal commission revealing a number of skeletons in the closet for the casino operator.
Despite Crown Resorts being dragged through the mud in the Victorian and Western Australian royal commission, analysts from J.P. Morgan believe the company will be able to retain its licenses in both states, but with conditions.
A combined entity consisting of The Star Entertainment Group and Crown Resorts would create a behemoth gaming enterprise not just in Australia, but in the wider Asia gaming market, though market observers have flagged a number of regulatory hurdles that could hinder it from ever becoming a reality.