Revenue of $170 million at Star Entertainment’s flagship Sydney casino is “at risk”, JPMorgan analyst Don Carducci says.
’s flagship Sydney casino is “at risk”, JPMorgan analyst Don Carducci says, after the company’s cross-town rival, Crown Resorts, opened its new high-roller casino floors last week.
Also working in Star’s favour was its slot machines. Crown’s casino licence does not allow it to put slot machines at its Barangaroo tower, and the NSW government has previously assured Star this would not change.account for about a third of high-roller play at Star’s Pyrmont casino – an advantage that “cannot be overstated”.Either way, high-rollers are in for a good time as Crown and Star fight it out.
The new Sydney casino rivalry comes towards the end of a two-year storm of regulatory scrutiny and evidence of improper conduct at the two companies.US private equity giant Blackstone
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