A couple of casino insiders predicted that a fall in the realm of Australian Casino gambling would come as a result of China’s slow economic growth. They argued that the Asian high rollers would stop gambling at Australian casinos, resulting in a drop in revenue, as was seen in Macau.
Now, casino industry analysts are saying that the fears of losing high rollers at Australian casinos have been ‘overplayed’ and exaggerated. Read on below and learn more about the high roller stats in Australia.
High Roller Spending at AU Casinos
Shares in the casino industry in Macau reduced by about 15% over the last few weeks. It has been reported that the reason for the drop in stocks is that the Asian high rollers haven’t been opening their wallets as easily as before. It all comes down to the trade tensions that are currently brewing between China and the United States which has, in turn, resulted in a softer Macau and more uncertainty.
SkyCity, The Star, Crown Resorts and many other Australian gambling casinos have been monitoring Macau to see if the same will happen with the Australian market. China’s deep-pocket players have been Aus’ steady and reliable source of revenue that they are not willing to lose.
However, investment firm Morgan Stanley reports to the media that while these concerns are entirely valid, there is no substantial indication that the Australian casinos are also going to experience a drop in their shares similar to that of Macau’s casinos.
When the government in China started cracking down on casino gambling sometime in 2016, foreign high roller players reduced significantly at land-based casinos in Australia. Consequently, they managed to climb up the ladder again. Crown Resorts reported an increase of 55% and the Star reported similar results, stating that their profit from the VIP section had increased by 54% year on year.