Every major player in online gambling is trying to conquer the emerging Chinese casino market. It takes no genius to recognize the potential size of the market and the cultural importance of gaming. The latest to join the long queue is Crown chairman James Packer.
The Australian casino tycoon told at his company’s annual general meeting that Perth could have an enormous potential as a premier Chinese sporstbetting and casino gambling destination.
Chinese gambling laws are strict about banning most forms of gaming in the PRC, but do not stop gamers to travel outside the People’s Republic to try their luck. Macau is their premier destination, but the city state of Singapore is quickly emerging with revenues expected to reach $7-10 billion a year.
Packer emphasized: “While Sydney has always been Australia’s gateway for international tourists, Crown’s investment in Perth provides us with an opportunity to make Perth an equally important gateway into Australia.”
The Australian high-profile businessman opines that the Australian city could act as the next major gateway for middle-class / mass-market gamblers from China in the near future. Packer finished improvements on his Perth Crown casino and plans to build a 500-room six-star resort hotel named the Crown Perth Towers in 2016.
Packer commented: “I’m a big believer in Perth. This city is in an ideal position to capture the outbound tourism from Asia. It’s closer than Sydney and Melbourne and shares a time zone with the region.”
Business analysts warn that Australia is losing share in the fast-growing Chinese tourist market, with shares of China’s outbound travel market falling to 0.8% from 1.3% in 2001 to last year. The competition is strong, but Australian casino operator knows the importance of offering decent entertainment besides a wide choice of catering and sightseeing options.
Packer said stressed: “The rise of Chinese middle class will change the world,” adding: “The cake is only going to get bigger, with enough pieces for all of us.”