Analyzing The Casinos And Gambling Industry In Australia In 2018 And Beyond
Australia’s casinos have suffered in recent years. One reason is Australia’s economic issues. Another reason is the constant criticism of gambling by some members of the federal and state governments. In addition, the casinos have suffered from personal scandals. The head of Crown Entertainment entered a mental institution. This was after the company received fines in Macau and Australia for tampering with machines and accusations of money laundering.
However, it would appear that both the tourism and the casino industries Down Under are on the mend. There is a caveat, though. The casino industry has experienced growth over the last five years, even though it faces intense competition from Asian casinos.
Upswing and Growth
One of the reasons the casino industry is on the upswing is because of the rise in tourism in Australia. Economists have noticed that tourism at casinos has increased. Hotel occupancy rates in both tourism destinations, as well as the country, have been increasing, as have hotel prices. This signals that there is growth in the industry. Casino tourists are domestic and foreign. Australian tourists are traveling to other parts of the country and spending more money. Their discretionary income is on the rise. Economists are expecting the casino industry to grow at 2.4 percent for the next five years. They also expect tourism to casinos to increase by 3.3 percent over the next five years.
One Noticeable Exception
However, with the projected revenue increases, economists have also noted that the casinos are not having the same impact. The casinos used to draw high rollers from Australia, Oceania, and Asia. This is not the case anymore. The reason for this decline may be because other areas are offering more attractive travel junkets. There are some Macau casinos that will pick high rollers up from the airport. They will bring them directly to their facilities in a limousine. The gambler will receive a luxurious suite, and he or she can gamble in a room exclusively for VIPs. Credit will be immediately given. In other words, high rollers receive the red carpet treatment in Macau, which is something they aren’t getting in Australia.
Possible Threats and Opportunities
The largest possible threat facing the casinos in Australia is the growing competition from other casinos in other countries. Experts project Australia will lose not only its high rollers but also its regular paying or infrequent customers. Other countries and casinos, such as the casinos in Macau, are making bids for occasional gamblers. They promise cheap airfare, hotel rooms, and food.
In addition, experts expect the on-site casino industry worldwide to see a steady decrease in the next five years. Economists feel that the casino market is shifting from a market of on-site casino gaming to Internet casino gaming. This means the number of poker and slot machines will fall steadily, as people increasingly gamble online.
Forecasters have said the casinos have three different factors that will affect their business. They will need to act on these forces in order to be successful. First, casinos close to key markets or major tourist attractions will do better than casinos in the middle of nowhere. People who are visiting the country may stop into a casino to gamble if it is close. Second, casinos need to offer a wide range of products for consumers to choose from to bring people in. These products may include eSports as well since this appears to be a growing trend. Third, customers at casinos respond to a qualified and knowledgeable casino workforce that can educate them on specific games. When casinos have offered tutorials in casino play and introductory or beginner tournaments, they have been successful.
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Sandra is a manager working in big pharma who loves a good thrill. Excessive travel to poorer parts of the world meant that she was forced to limit her land-based casino visits to once or twice a year. Then she discovered the online casino universe. Since then she has been transformed into a real money online slots nut with a passion for learning how to take advantage of online casino perks. Sandra is a regular contributor to Top Casino Picks.
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