Chinese Could Save Australian Casino Industry

Tuesday 15 May, 2012 15:10

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In a recent interview, the chairman of Crown gambling group, James Packer, spoke about the need to step up the efforts to attract middle class Chinese gambling tourists to Australia.

Packer said that these tourists are willing and able to spend millions of dollars gambling at Australian casino resorts, and that the country needs more man-made attractions such as land casinos to lure these tourists Down Under.

Packer said that areas in Australia had the potential to become like Las Vegas, which manages to attract over 40 million visitors each year because of its slew of large casino resorts.

The Crown chairman noted that Chinese middle class gamblers could go a long way to help save Australia's tourist and gambling industries.

As such, Packer, who it is believed is eyeing the option of selling his stake in Consolidated Media in order to focus more on the casino business, said he wants to create a complex at Barangaroo in Sydney that would offer casino table games only.

Packer plans to build up casino gambling in Perth, Melbourne and the Chinese gambling enclave of Macau. If successful, Packer's company would become one of the largest land casino operators in the global gambling industry.

Packer Proud of Australian Casino Business Interests

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Packer said in the interview that he was proud of being in the gambling business and that he was tired of the public perceiving casinos in such a bad light.

"I am really sick of people looking at me as though I am running some sort of sinful business," he said. "I am hugely proud of our business."

Packer pointed out that the gambling industry pays double the amount of tax on its profit than other businesses, something that should not be overlooked when criticising the industry.

Australian Gambling Groups Looking to Macau

Nobody can deny that the future of Macau looks very bright, and Australian gambling groups, including Packer's corporation, are looking for any opportunity to take a slice of the very lucrative market.

A joint venture between the Australian Crown Casino and Melco International of Hong Kong will result in several large land casinos being built in Macau to the tune of several million dollars.

Analysts say that Macau, which has already long overtaken Las Vegas as the gambling capital of the world, has plenty more growth potential, especially since it attracts Chinese high rollers from the mainland - the same Chinese gamblers who could save the Australian casino industry.

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