In Sydney, Crown Resorts and Sat Entertainment have been at odds over exclusivity in the city’s gambling market. Now that Crown has been given the go-ahead to build its new high-roller Barangaroo Casino, Star Entertainment is preparing to become fierce competition.
This week, Star Entertainment proposed its plans for a 200-metre hotel tower that will be located opposite the Darling Harbour. This will help the operator achieve its goal of being a luxury destination to wealthy visitors from China. The new tower would also help to solve the shortage of luxury accommodation for Chinese tourists in Sydney.
“The affluent Chinese middle class is on the rise and looking further afield. There’s an opportunity to capture some of that. In Sydney, occupancy rates at the high-end are at spillover capacity,” says a spokesperson for Star Entertainment. “There’s certainly demand that requires additional supply”.
This proposal has been made shortly after it was revealed that Crown Resorts is experiencing delays. As obtaining the proper regulatory approvals is taking longer than expected, Crown is concerned that the casino will have to postpone is 2019 grand opening. It seems that Star Entertainment is taking advantage of this situation by taking this time to plan strategies that will make The Star more competitive when Crown’s Barangaroo Casino is finally open for business.
With two luxury casino properties in Sydney, the city may become a destination for high roller gamblers from around the world. The Star already offered up an impressive selection of entertainment and Crown Resorts will only add to the offering. Now, The Star is upping its ante in order to draw even more visitors to Sydney. So, while both companies are competing in the same market, this competition will only serve to benefit the local gambling market and boost the local