The Emerald City is set to become a gambler’s paradise with two major casinos fighting over high-roller punters. The regulator is on high alert.
revealed that Crown had done business with high roller junket operators linked to organised crime and money laundering.
But Star’s market dominance at its Pyrmont casino, having run its operations for 27 years with a casino licence that permits high rollers and slot machine gamblers alike, is likely to continue in the medium term.Star is also facing an excoriating review in which lawyers assisting inquiry head Adam Bell, SC, say Star should be found unfit to run its casino. The inquiry has already sparked a clean-out of the board and management.
“Over the medium term, upon the opening of Crown Sydney, we remain of the view that this will ultimately grow the overall Australian VIP market,” he says. “With the two combined Sydney casinos taking VIP share away from other regions and domestic gaming markets ... Star will not be severely impacted.”
“As a VIP membership casino, we’re one-of-a-kind in Australia, and certainly a leader in safe and responsible gambling,” he says. “We see ourselves as a unique product, with a VIP membership base that is very strong and will be quite sustainable into the future.”
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