The Star Entertainment Group has confirmed what everyone in the gaming industry knew the minute Chinese authorities arrested 18 Crown Resorts staff three months ago. The world’s most lucrative source of gaming revenue was suddenly off limits and casinos could no longer rely so much on the private jet-loads of high-rollers flocking to casinos in Australia and elsewhere.
The Star has reported a 27 per cent drop in its VIP gaming business in November and December as news of the Chinese government’s clampdown on high rollers filtered through. This trend has continued into January and early February.
While casino operators have tried to downplay the impact of the Crown arrests on the industry, The Star’s first-half results provid…
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