Over the course of the past decade, we have seen Australian casino operators growing and expanding as they aim to attract high roller players from Asia. Now, as the Asian economy continues to boom, the local gambling market can expect to see impressive financial growth in the next five years. SBS reports that Australian casinos will see revenue worth over $6 billion by the year 2020.
This will be due to the growing wealth across Asian countries, which will result in an increase of high roller gambling. Since Australia is a popular destination for Asian VIP gamblers, local gambling venues will reap the benefits. During this time, several new casinos will be opened up across Australia.
Sydney will be home to Crown Resorts’ new high-roller resort, Aquis Casino Resort will be opened in Cairns and Queensland will see the construction of many new high-class gambling resorts. All of these venues have set a common goal of attracting international high rollers.
Crown Sydney will include a $1.3 billion luxury hotel and it will only be open to VIP players. Aquis is a project that will cost $8.2 billion, and aims to bring an entirely new luxury resort experience to the country. These will be the first new casinos that Australia has seen since 1996, and they will fuel the growth in the local gambling market.
"The opening of these new casinos is reflective of strength in an industry being bolstered by high levels of domestic spending as well as increasing levels of foreign gambling dollars," reads a report from Market Research Firm, IBIS World. In addition to bringing in more gambling revenue, these new properties will also boost the tourism market.
They offer up a wide range attractions, accommodation and facilities that will appeal to all types of visitors from around the world. So, there is plenty of room for growth in this market.
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