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Tabcorp bets on Sydney locals for casino growth

27 May 2009

MELBOURNE, Australia -- As reported by Reuters: "Tabcorp Holdings Ltd, Australia's biggest gaming company, is spending big to spruce up its Sydney casino, but is mostly targeting locals rather than Asian high-rollers to fuel growth, its casinos chief said.

"But in two years, when the A$475 million ($370 million) revamp is due to be finished, Tabcorp's Star City should be able to attract big spenders from Asia's gambling haven, Macau, Larry Mullin told Reuters in an interview on Wednesday.

"...Tabcorp is overhauling Star City's main gaming floor, building new restaurants, and building the first new 5-star hotel in downtown Sydney since the 2000 Olympics as part of the redevelopment, betting it will attract the 5 million people in and around Sydney, as well as international tourists.

"...The group is focused on the Star City upgrade, and was not looking at acquisitions offshore..."

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