» Chinese Could Save Australian Casino Industry
Chinese Could Save Australian Casino Industry
Tuesday 15 May, 2012 15:10
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
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
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
"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.