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Australian Casinos Benefitting From Macau Woes

A report in the business publication Reuters claims that Australian casinos are beginning to see increased business due to clampdown by China on corruption which have negatively impacted Macau's betting industry.

Chinese gamblers are beginning to gamble at Australian resorts such as Crown's Melbourne location, which reported that revenues almost doubled during the second half of last year. Fellow gambling group Echo Entertainment also reported big results, with VIP gambling setting a record for its properties last year.

Casino owners in Oz are likely to continue to push for more VIP business in the future, as they build up new properties and enhance their existing spots to lure in wealthy Asian players.

China has launched a series of anti-corruption measures against officials in its country, which has caused many gamblers to avoid Macau as a betting destination. Last year was the first in many that the former Portuguese colony saw a drop in revenues, a worrying sign for an economy almost entirely dependent on betting revenue.

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