Asians flock back to Crown Media Man Int

Asians flock back to Crown, by Daniel Mercer - 25th September 2014

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A return of Asia's high rollers has helped billionaire James Packer deliver his best result in charge of Perth's revamped Crown Casino.

The Gaming and Wagering Commission of WA's annual report was tabled in State Parliament yesterday, shining a light on what has been a blockbuster 12 months for Crown Perth.

According to the report, casino revenue was up 11 per cent in the 12 months to June 30 to $665 million - 32 per cent more than Crown recorded three years ago.

There was also another jump in the number of people walking through Crown's doors, which has undergone a radical $750 million transformation under the control of Mr Packer since he took over in 2004.

Casino attendance figures over the past financial year topped 8.5 million, the commission said, compared with 7.7 million the previous year.

This was a massive 50 per cent more than attendance figures from two years ago, when 5.6 million people went to Crown.

Underpinning the cash-making ability of Crown was its collection of poker machines - or electronic gaming machines - which raked in $272 million in 2013-14 compared with $269 million the year before.

But Crown was also bolstered by a bounce in revenue generated from baccarat, a card game that is popular with wealthy Asian gamblers.

The baccarat figures, which vindicate Mr Packer's strategy of luring the lucrative Asian high-roller market to Perth, mean revenue from the game is nearly back to where it was two years ago, after a sharp fall last year.

Earnings from roulette were down slightly on the previous year, while takings from blackjack were even softer - falling 11 per cent year-on-year.

Crown paid the State Government more than $115 million in casino taxes, compared with about $106 million in 2012-13.

"The expansion of Crown Perth from a gaming-based enterprise to a broader entertainment complex has seen considerable increases in attendance figures," the report noted.

(The West Australian)