Casino takings slump as high rollers stay away

Casino takings slump as high rollers stay away
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CHINESE high rollers are deserting James Packer’s Perth casino in droves, putting at risk one of the key strategies behind Crown’s $650 million redevelopment.

Gaming and Wagering Commission of WA figures tabled in State Parliament yesterday showed revenue from baccarat — a game favoured by wealthy Chinese gamblers — plummeted by more than one-third last financial year.

It comes as a blow to Crown. Majority shareholder Mr Packer had ploughed $650 million into redeveloping the casino and hotel complex largely to attract Chinese high rollers known as “whales”.

 

The plunge dragged down overall gaming revenue at Crown, from $742 million in 2015-16 to $622 million last financial year.

 

Money from electronic gaming machines overtook baccarat to become the biggest source of revenue for Crown, generating $266 million in turnover despite a slight decrease.

Elsewhere on Crown’s gaming floor, the popularity of roulette and blackjack also took a hit. The figures coincide with a fall in visitor numbers to the casino, where attendance has fallen 7.6 per cent over four years to 7.8 million.

 

read more at perthnow.com.au

Started working in the Casino Industry in 1985, just never managed to leave as yet. Visited 99% of all UK Casinos, seen them all,

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