Crown offers private jet lure for Asian VIP gamblers
Rowen Craigie at Crown Casino in Melbourne. Source: News Corp Australia
CROWN Resorts says general softness in consumer sentiment has hit local trading in the first months of fiscal 2015, but gaming revenue has still posted a slight lift.
Crown(CWN) chief executive Rowen Craigie told shareholders at the gaming group’s annual general meeting that across the group’s Melbourne and Perth sites revenue from main floor gaming, which excludes VIP program play revenue, grew by 2 per cent for the fiscal year to October 12, compared to the previous corresponding period.
Non-gaming revenue across the two properties also grew by 2 per cent in the period, while VIP program play turnover was in line with the previous corresponding period, although at a low win rate.
Mr Craigie announced that in a bid to further entice VIP customers, Crown will splash out $US100 million to acquire three Bombardier jets to replace the existing fleet of Gulfstream jets.
“This acquisition will enable Crown to expand the range of its private jet service to Asian VIP customers and provide a superior level of comfort and amenity,” he said.
Mr Craigie added that actual capital expenditure on Crown Melbourne for the period between fiscal 2010 and fiscal 2014 exceeded $1 billion, with a further $200m expected to be spent up until fiscal 2017.
Meanwhile, Crown chairman James Packer said Crown’s plan for a hotel resort at Barangaroo on Sydney Harbour is “progressing well and aims to give Sydney its first six-star luxury hotel and an architectural landmark that the city is crying out for”.
Source: The Australian - October 16th 2014
