The Star Plans to Attract More High Rollers

The Star is looking forward to attracting more high roller casino players specifically from the Asia-pacific region. This is after two Hong Kong companies acquired stakes in the Australian casino operator.

The Star Entertainment Group
The hotel and retail multinationals – Chow Tai Enterprise and the Far East International both acquired a 4.99% stake in The Star Entertainment Group. These two investors will both receive a whopping AU$45.8 million worth of shares in The Star. The Australian casino is looking to raise approximately AUD$500 million from this deal.

The Star Entertainment – Details on the Deal

It’s essential to bear in mind that The Star is currently running a project with these two Hong-Kong based investors where they are building an integrated resort in Brisbane worth over AU$3 billion. The casino operator reported to the media that they expect to influence networks, loyalty programs, expertise and much more, with its new partners.

They further mentioned that merging with these two investors is not solely focused on building the vast Brisbane resort, but also to create about five mixed-use towers on the Gold Coast. And lastly, it’s an opportunity for The Star to develop one of the best properties they own – The Star Sydney.

Far East International and Chow Tai Enterprise will have their total stake in the company increased to more than 10%. But, they will have to get the approval from the gambling regulators first.

Overview

The casino operator is confident that this new joint venture will assist in bringing more returns in its VIP gambling sector.

They are on the right track as they are targeting the Asia-Pacific high rollers because that specific region has always been a leading niche in the realm of casino gambling for the Australian market. Analysts have already reported that the volumes of high roller players will increase in the coming few months.