Star Entertainment has revealed that they had an increase in their revenues and most of that revenue comes from international players. They have recorded a 16.4% growth in the past five months from January to May. Most of the international players are coming from Asia and are high rollers that like to play big.
In their report, the Star Entertainment said that their High Roller turnover has been growing up to 63.7% every year. The gaming operator has been looking into attracting VIP players beyond China. They also recorded a 1.35%-win rate for the high rollers.
Another area that contributed to the growth is the booming local tourism. The domestic gaming growth was up to 2.6% yearly.
Development of the Queen’s Wharf Project
Star Entertainment is in the process of developing Queen’s Wharf Resort which will cost AU$2.4 billion. It was initially estimated at AU$1.8 billion, and the plan was revised which then caused the rise in the costs for the development.
In the revised plan; the resort will feature a Sky Deck, a bigger gaming floor, more hotel rooms, dining and retail features. The Queen’s Wharf integrated resort will be located in the Brisbane central business region. It will feature 400 gaming tables, 2500 slot machines and 800 multi-terminal gaming machines.
The target opening launch is 2022 in the second half of the year and construction is due to start in 2020.
Adding Four Towers to the Gold Coast Casino
According to Mr Matt Bekier, Chief Executive at Star Entertainment said that gold coast does not need another casino and therefore decided to add more towers to the existing casino. The towers will be up to 74 storeys, and there won’t be any addition to the current number of pokies. However, at this casino, they saw a decline in the revenue at 77% in February.
The growth in the high rollers that visit Star Entertainment’s casino resorts is showing a positive impact on their revenue. With their new project in the works, it will probably keep growing.