Australian casino giant, The Star Entertainment Group, has seen an increase in foreign high roller players gambling at their casinos. The group stated that the last year has seen profits increase by 20% over the last financial year due to the increased presence of big money Asian gamblers at their establishments throughout the country.
The increase in numbers comes after casinos around the country saw a drop in high rollers from foreign nations (particularly Asia) in the previous financial year. It is believed that the initial drop in numbers could largely be linked with the anti-gambling efforts being taken by the Chinese government.
The Star Posts Weak House Win Rate
Despite revenue numbers for The Star Entertainment Group hitting a record high of AU$61 billion, the organisation’s statutory profits still fell by near 50%. This was due to an unusually high number of these high rollers winning large amounts of money. Casino gaming industry analysts have even gone as far as to state that the trading conditions in The Star’s establishments are “pleasing”.
Through all this, The Star Entertainment Group has been able to post some significant gains over the last few days with shares seeing a 5.9% increase in value.
Speaking on the casino group’s improved performance over the last financial year, The Star chief executive Matt Bekier stated, “Our international business delivered excellent growth. We’ve consolidated our No.1 position in the market.”
The Star Entertainment’s announcement of an impressive performance over the last financial year comes off the back of other major Australian casino operators, such as Crown and SkyCity doing the same thing.
With all of this in mind, it definitely seems as if the Australian casino industry is on the up. For all the latest casino news updates, be sure to keep it locked here at CasinoAus.com – your premier source of Australian casino news!