VIP gamblers are returning to Australia in droves, with junket groups registering considerable increases in VIP volumes at Crown Melbourne and The Star.
In a note made public by The Australian, Morgan Stanley equity analyst Monique Rooney said the improved volume was attributed to the recent release of Crown employees from prison in China after they were detained last year for illegally promoting gambling services.
She noted that junket operators saw increases in VIP volumes over the past several months since the beginning of the new financial year.
“Specifically, junket operators spoke to a material improvement across both Crown’s Melbourne and The Star’s Sydney properties in recent months versus the VIP volume lows seen in 2017,” she said.
The brokerage said it believes Australia’s VIP casino sector could grow 9.4 percent in 2018. It has also upgraded its forecasts for the country’s two local casino operators.
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