One of the countries that have the highest economic growth is China. They have really boomed in the past couple of years and it seems that their progress is inevitable. Naturally, a lot of people went extremely rich in China and some of them, it seems are very fond of playing casino games with high stakes. These high-rollers were actually the main source of revenue when it comes to the casinos in Macau, and this area has seen a drop of 15% in shares due to these high rollers not risking to gamble there as long as the US and China trade war lasts.
The Asian high-rollers have another place for playing their favorite casino games and that is Australia. It seems that Australian casinos are also very dependant on these type of gamblers and they create the firm basis for their progress. On the other hand, should they stop spending as much in Australia, this could turn out to be a disaster for the casinos on this continent. Of course, there are fears among the casinos that exist in Australia that the US and China trade war would affect them as well, but many analysts from the industry state that there is no reason to fear and that all of the talks going on about high-rollers leaving this area are exaggerated.
Some of the casinos that are currently operating in Australia are Crown Resorts, The Star, SkyCity, and several others. Their officials have been monitoring Macau casinos closely and concluded that there is a possibility (small, but existent) that the same would happen to them. However, instead of dropping in shares, these casinos would suffer a much greater impact that may result in the closing.
On the other hand, the analysts from Morgan Stanley state that there are no reasons for panicking. Although the concerns are understandable, they say that there is no reason for the high rollers to stop coming to the Australian casinos. According to the latest research, it seems that the foreign VIP program that these casinos offer would remain steady and that the income will remain steady as well.
This is not the first time that the casinos from Australia suffer from the action of the Chinese government, which explains the concern that these casinos have. Just two years ago, back in 2016, the government of China initiated cracking down on gambling.
This resulted in the foreign high-rollers to stop going to Australia to gamble for a certain period. Nevertheless, the casinos in the southern continent managed to climb back. In fact, they have been doing pretty well in the last year and reported a 55% increase – especially Crown Resorts and The Star. In fact, the main reason for this was their foreign VIP program which jumped 54% in year-on-year. One thing is certain, the trade war mentioned above has the potential to affect not only the casinos in Australia but the whole world.
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