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Australian casinos struggle amid crackdown on crime links, problem gambling
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Star Entertainment, which is the largest listed casino operator and has venues in Sydney, the Gold Coast and Brisbane, is struggling to avoid collapse.
PHOTO: REUTERS
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SYDNEY – Once among Australia’s most profitable entities, the country’s casinos have been laid low by government crackdowns on money laundering and problem gambling that have hit their bottom lines badly.
The main operators, Star Entertainment and Crown Resorts, which once enjoyed a steady stream of seemingly unstoppable cash flows, now face an uncertain future after the government’s actions stripped away key sources of their profits.
