Star Sydney Gearing Up for Casino War with Crown Resorts

Star Sydney Gearing Up for Casino War with Crown ResortsTwo of Australia’s gaming and entertainment giants are currently involved in a battle to dominate the Sydney casino market, with the James Packer owned Crown Resorts Ltd looking to move into Star Entertainment Group Ltd’s space after the latter’s monopoly of the area runs out in 2019.
Against this backdrop, Crown Resorts is in the process of constructing an A$2 billion six-star casino hotel resort just west of the Sydney Harbour Bridge in Barangaroo, which upon its completion in 2021, will feature 350 hotel rooms, restaurants, bars, and shops. In addition, the luxury property will house a casino with 480 table games, but unlike Star, will not offer any slot machines.
The development will pose a significant threat to the Star Sydney, which was opened in 1995, and has 351 hotel rooms, two gaming floors, as well as a variety of bars, and restaurants to enjoy. As a result, the casino resort is pushing forwards with its A$1 billion upgrade and renovation project, as it seeks to hold on to the business it has already acquired over the past two decades of its operation.
Originally, Crown Resorts intended to target the Chinese high roller segment with its brand new Sydney casino, but following a crackdown on gambling promotions by the Chinese government, it looks like Crown and Star will subsequently be competing for a similar type of gambler, namely table-game grinders. Commenting upon the situation following the arrest of a number of Crown workers in China last year, Global Consulting & Development Pty CEO Roy Wheatley, explains:
“Their business from Asia has been severely damaged. The majority of their revenue is from local play and this will be the case in Sydney.”
The casino will set its minimum baccarat stakes at A$30, with blackjack at A$20, and roulette at A$25, which should make it an attractive venue for a more diverse group of players, than just a small group of VIPs and high rollers.

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