Sunday, June 26, 2022

Star VIP business still hurting from Crown arrests


Casino operator The Star Entertainment Group says its international VIP business continues to be impacted by the detention of employees of Crown Resorts in China last year.

In a presentation to the Macquarie Securities Australia Conference on Wednesday, the operator said it had been diversifying into global VIP markets starting 2015 - focusing on large growth markets including South Asian VIP, premium mass and inbound tourism, adding it continues to adopt a near term cautious approach in North Asia.

The Star noted turnover in its International VIP Rebate business was down 27 per cent in November and December, compared to the previous corresponding period.

Gross revenue, excluding International VIP Rebate business, was up 4.1 percent over the previous corresponding period between Jan. 1 to Apr. 30, 2017.

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