Wednesday, November 13, 2013
Packer's Sydney Casino
Much has already been written about James Packer's Crown Sydney project. I was interviewed by the Sydney Morning Herald for my views on the topic. You can find the article at http://www.smh.com.au/nsw/packer-casino-pokies-are-inevitable-say-experts-20131112-2xelq.html. I would love to hear your views on the matter. In the meanwhile, Tony Fung is acquiring Casino Canberra and the Reef Casino. Not much of a surprise there as both properties have been poorly managed for quite some time, and refused to make any investments in enhancing customer service. However, the price tag -- $214 million is quite a bargain. Personally, I feel we need more international brands, the likes of Caesars and Wynn or even Galaxy to operate in Australia. Right now, over 90% of all casino revenues accrue to two companies, Echo and Crown. Your thoughts???