The planned Aquis casino resort located in Cairns is getting closer to approval from the regulatory authorities. The resort is described by those who support it as a “man-made wonder of the world” and is expected to take billions to construct. It is believed that the Queensland government is said to be advocating for it to attract gamblers to Cairns hoping that the cash they deposit will help boost the economy of the region.
According to the plan’s promoters, the casino is targeted directly towards China. Chinese market. The developers say that it will not just:
The Chinese middle class of mass-market, but also the high-spending, increasing-value, Chinese higher class.
Anyone with a lot of memories or who are familiar with the development of casinos in Australia knows this story before. Since Hobart to Darwin casinos were justified by the hope of attracting wealthy foreign gamblers and tourists, especially from Asia.
But these dreams haven’t been fulfilled. Australian casinos will eventually be dependent upon the “local” pokies market – aside from the barely-profitable Canberra Casino that pokies are outlawed.
Casino is often regarded as the standard type of Australian casino that attracts high-end players from around the world and is heavily dependent on revenue from poker machines. A thorough review of estimates of the Productivity Commission and the Crown’s annual reports reveals that pokies are more crucial in Crown Melbourne’s bottom account than high-rollers. The profits from pokies were around $376 million in 2008-09, compared to $330 million earned by high-rollers.
The biggest difference between these two areas is what Crown calls “local gaming”: $479 million of profit is derived from players who play table games in the gaming halls.
This time, is it something different?
However, with every new casino idea we are assured that this time it will be different. We looked for proof to show that this proposed Aquis casino located in Cairns is likely to attract Asian gamblers 로즈카지노쿠폰.
Although Aquis has prepared a 4000-page social and environmental impact statement, the company is not revealing the specific gambling facilities that will be constructed. However, additional details have been provided by the Australian Competition and Consumer Commission (ACCC). The ACCC states that the casino is expected to offer 1500 poker machines, but only 750 gaming tables. This arrangement of gambling services indicates a plan to attract Cairns locals.
Chinese gamblers seldom play pokies. It is true that “market cultivation” efforts by operators in Macau to generate demand for the machines have so far proved an unsatisfactory failure. According to the most recent statistics that poker machines accounted for only 4% of all casino gambling in Macau.
The casino operators of Macau have cut down on the amount of pokies they provide by more than 20 percent between 2012 and 2014. The pokies at Macau’s Aquis casino will be overwhelmingly utilized by Macau residents.
The addition of 1500 pokies in Cairns will probably take an enormous amount of money from the area even though it is taking into account losses from pokies in other clubs and pubs. Our analysis suggests that on average, every adult in Cairns will pay an additional $240 per year playing pokies or, if you’re Cairns is a city, over $56 million annually until 2021.
They do not reflect the entire estimated revenues generated by Aquis pokies, but rather the additional money that Cairns residents could be losing, on top of the average annual $660 that they currently spend on pokies in bars and bars.
The most troubling aspect is the way that these averages conceal the uneven distribution of losses from the machines across the entire community. According to our estimates based on an analysis of surveys conducted among gambling addicts across Queensland from the Productivity Commission, $22 million of the $56 million annual additional losses will come from only 950 problematic gamblers. About 3000 “moderate risk” gamblers will also lose a further twelve million dollars annually.
On the other hand, those who do not declare any negative effects from gambling are likely to lose just $16 million. An additional $8 million could be lost to those who have reported only one or two indications of problems with gambling.
The pokies in the United States disproportionately are targeted at the poorest of players in Australia. Could this be the case again? We hope with all our hearts that the Aquis casino will be successful in acquiring cash from foreign “recreational gamblers”, freely investing their hard-earned money in Cairns for the benefit of the local population We doubt that this is the case. Instead, the casino will likely be funded by residents in that region. Cairns region.
A mere 4000 gamblers with a level of gambling problem will likely shell out an additional $33.5 million every year on the proposed 1500 pokies on the Aquis casino. There are questions to be asked regarding whether the revenue from the casino, which will be going offshore to developers in Hong Kong will be enough to cover the inevitably high local costs.