Following the arrest of the Crown Resorts casino employees earlier this year, Star Entertainment Group, known to operate a number of gambling facilities, witnessed a considerable decline in the revenues, generated by its gambling operations on the Asian market.
Aiming to compensate for its losses, the company launched renovation projects targeting its Sydney and Gold Coast casinos as well as a construction plan for establishing a casino resort in Brisbane.
The well-known proverb “Where there is fire, wet and dry burn together” seems to be fully applicable in the case of the Star Casino, which suffered the negative consequences of the Crown Resorts “misbehaviour”. Long story short, earlier this year, Crown Resorts staff was accused of gambling crimes and jailed. This reflected on the reputation of the entire casino industry in the area, affecting all the casino operators. This, on the other hand, vexed the players, including the high-rollers, who had the main role in the development of the casino industry.
Star Entertainment Group is among the operators, which suffered the most. The company reported that its VIP gambling operations sharply plummeted with 20% in the year to 30th June. The disturbing number immediately called for reaction by the operator, which needed to find a way to soften the blow and attract new high-stakes players. Chief Executive Matt Bekier pointed out that many Australian casino operators decided to put an end to their marketing strategies on the Chinese mainland, fearing legal prosecution for promoting gambling, which was strictly prohibited by the government.
But it seems that there is a light at the end of the tunnel as Mr. Bekier said that there is an increase in the deposit funds, generated from the non-Asian gambling operations. This redirected the attention of the operator, which is now targeting to enhance its presence on the Australian market.
In the wake of the new idea, the operator decided to improve its Sydney and Gold Coast casinos, launching a plan for their renovation. What is more is that the operator submitted an application for the construction of another casino resort in Queens Wharf Brisbane, which will be the jewel in the Star Entertainment Group’s crown. The whole idea is to make the casinos more lucrative for well-off players than ever.
Star’s future casino in Brisbane is expected to be completed by the end of 2022, otherwise the operator will be sanctioned. The other two renovation projects are also said to be finished in the next few years, hoping that the operator will manage to fully stabilize by then.
At present, Star Entertainment Group reported that the company increased the number of its foreign visitors from elsewhere than China, but it will take some time until the operator manages to fully heal its financial wounds.