The Star Entertainment Group and James Packer's Crown Resorts are two of Australia's biggest casino operators and fierce competitors. Both casino enterprises are in the process of developing a number of new multi-billion dollar casinos in Australia, with a particular focus on the Queensland market.
Star Entertainment has joined forces with Hong Kong based Chow Tai Fook Enterprises and Far East Consortium to finance its $3 billion mega casino resort in Queen's Wharf, a $1 billion Sydney project that includes developing a massive tower and a Ritz Carlton hotel and a $500 million makeover of its Jupiters casino.
Crown Resorts is also expanding its facilities in the Gold Coast and has partnered with the ASF Consortium which is comprised of CCCC Guangzhou Dredging Corporation and the China State Construction Engineering Corporation. While both casino enterprises invest billions of dollars into their new casino developments in Australia, the success of these new ventures are heavily dependent on attracting Chinese tourists who have a tendency to gamble heavily at the casinos.
The collapse of Macau's casino industry due to the anti-corruption crackdown launched by Beijing has caused VIP gamblers to shun Macau's casinos. Both VIP gamblers and mass market gamblers from Mainland China have been in search for new casino destinations and have no problem traveling overseas to pursue their gambling activities. Casinos from Australia, South Korea, the Philippines and Vietnam have pushed hard to attract more tourists from Mainland China and take advantage of the Macau casino industry collapse.
Both the Star Entertainment Group and Crown Resorts realize that a huge chunk of their revenue will come from tourists from Mainland China and hence are battling it out to see who can capture a bigger percent of the Chinese tourist market. Star Entertainment Group are currently in the process of entering into a partnership with China Travel Service, a state owned company that will help direct Chinese tourists to Star Entertainment casino properties. Star Entertainment will also use its partnership with Chow Tai Fook Enterprises to leverage its huge list of VIP customers in Mainland China to bring in more tourists.
Crown Resorts is depending heavily on the ASF Consortium to work the Chinese market and help promote all Crown Resort destinations in an effort to leverage a bigger market share and not lose out to the Star Entertainment Group. However both Crown Resorts and Start Entertainment are being tight lipped as of now with regards to their plans of capturing the Chinese tourism market.