VIP services grow in Australia
Junket operators have boosted the Australian casino market, which could grow significantly next year.
Australia.- According to Australian officials, junket operators have boosted the local gaming industry, leading to thousands of resident players and VIP gamblers to arrive under new touristic plans.
“Specifically, junket operators spoke to a material improvement across both Crown’s Melbourne and The Star’s Sydney properties in recent months versus the VIP volume lows seen in 2017,” commented to The Australian, Morgan Stanley equity analyst Monique Rooney, who also said the improved volume was attributed to the recent release of Crown employees from prison in China after they were detained last year for illegally promoting gambling services.
Meanwhile, the report by Morgan Stanley reveals that Australia’s VIP casino sector could grow 9.4 percent in 2018. It has also upgraded its forecasts for the country’s two local casino operators.
Australian state governments are trying to set new taxes and promotional restrictions over online sports betting operators in order to further control the activity, which is the only one authorised for operating online in the country.
Western Australia’s latest budget, revealed last Thursday, includes a 15 percent point of consumption tax (POCT) for online sports betting operators that generate revenue from state’s punters and will take effect in 2019. The online POCT was first introduced in South Australia, after assessing the Northern Territory-licensed operators weren’t paying enough.
