Published on : Friday, August 25, 2017
The Star has said that its planning lies in the developing the hotels and entertainment venues first and then upgrading the gambling facilities at its Sydney and Gold Coast casinos has already started attracting the Chinese tourists.
Turnover from The Star’s international VIP gambling business dropped 20 per cent in the year to June 30, affected by a high win rate against high-rollers and the disruption to the North Asia VIP market due to the Crown detentions in October 2016. However, chief executive Matt Bekier said that there was an increase in deposits of funds from VIP gamblers outside of its north Asia business in the second half of the financial year. He continued saying that they think they have reflected on their VIP strategy, the real sweet spot for us is the customer that’s diversified, who wants to do more than just gamble, a family who seeks out tourism experiences. They should, therefore, focus on a customer that probably looks more like a super- high-end tourist customer who enjoys gaming.
The Star has made a net profit of $264.4 million in 2016/17, up 36 per cent from the previous year, due to total higher second-half revenue from its Sydney, Gold Coast and Brisbane casinos and its high win rate in the international VIP rebate business.