Sunday 24. January, 2016

Chinese Crackdown Puts Australian Casinos on the Block

The impact of China’s crackdown on capital outflow is expected to reach as far as Australia and have a significant impact on The Crown and Star Entertainment. Beijing’s measures to tighten foreign currency transactions, together with its campaign against corruption have already prevented VIP gamblers from visiting Macau and this impact is expected to start reaching as far as Australia.

To work around China’s capital control rules, operators use China’s underground banking network to lend money to high roller customers. However, as Macau has come under greater scrutiny, many of these operators have considered other markets, such as Australia. Crown Entertainment and The Star Entertainment Group have benefited from this; however, as China tightens its controls, Australia may begin to feel the pinch as well.

“There has been this idea that a good chunk of the lost VIP revenue from Macau would simply find a new home in places like Australia,” explained an industry source. “But if China wants to stem the flow of money, it’s not just Macau that is on the block; casinos in Australia will also have to check their expectations.”

In addition, while the VIP gaming revenue in Australia and New Zealand has grown steadily over the past 12 months, it represents a fraction of the amount lost in Macau. Turnover from Crown high rollers increased in 2015 by 41 percent to $71 billion and at The Star high roller revenue increased 53 percent to $46.2 billion.

Despite this, Macau continues to dominate the VIP gambling scene with a 75 percent share, while Australia has only 3 percent and Las Vegas about 5 percent global share.

Harold Mitchell, Crown director said the trend for VIP high rollers, particularly Chinese tourists, to visit Australia is strong and that the leisure and casino industries will benefit.

TOP CASINOS
$200 BONUS

Start your Australian casino adventure with a $200 bonus and 5000 seeds!


130 FREE SPINS

All new Australian players get 130 free spins and bonuses up to €1000 on the first three deposits.


30 FREE SPINS

Get 30 free spins and 4 welcome bonuses to a total value of $1400 as a new Australian customer!


35 FREE SPINS

New Australian players get 35 free spins on Spiñata Grande and a 100% welcome bonus up to $200!


400% BONUS

As a new Australian customer, deposit €100 and you will get €500 to play for!


€10 EXCLUSIVE BONUS

Get a €10 exclusive bonus on your first depost and get 10% top-up on your winnings or 10% cashback on your losses the first week.


200 FREE SPINS

Get 50% of the deposit you make in free spins! Deposit $400 in order to get 200 free spins! Also, 100% bonus on your first deposit!


$500 BONUS

Join All Australian Casino and get a 100% bonus up to $500 as a new Australian customer!


50 FREE SPINS

As a new Australian player, you get 50 free spins and a 200% welcome bonus!


180 FREE SPINS

Get up to $1000 in bonus on your first four deposits. Also, 180 free spins to all new Australian players!


100 FREE SPINS

Get 100 free spins on Starburst and a first deposit bonus worth up to $400 as a new Australian player!


PokiesPedia was last updated:
April 16, 2017

Receive 100 Free Spins Now!

Receive 100 Free Spins Now!

Join our mailing list to receive 100 free spins instantly and the best bonus offers for Australians!

You have Successfully Subscribed!