When Betfair Casino decided to expand its business over to Australia, it looked like a great idea, because the local market was booming. The number of customers is still on the rise, but the projected games didn’t come to fruition and it is now time for the online gaming operator to look elsewhere for solutions. Being one of the most successful in this line of work, it is only fair to assume that the new owner of Betfair Australasia will need to do a hell of a job to keep the ship afloat.
Crown Resorts was the only one willing to spend a lot of money to acquire their operations year, but the good news is that they have a lot of experience with the local market. They are already running some of the most successful poker tournaments in Australia, including the Aussie Millions which takes place every year in February. The poker room is doing very well and the owners are confident that they have what it takes to steer the ship around and make the casino division equally profitable.
Betfair Australasia is not a train wreck, but the UK-based company chose not to invest more and instead focus on its operations oversees. It is no coincidence that Crown resorts were the ones chosen to take over, because the two ventures shook hands two years ago. This was the result of their work and it is now time for the Australian partner to continue the legacy, as the gambling hub is well known among local players and still has a future.
The first signs that the venture was not heading into the right direction appearead in the first quarter of 2014, when Betfair Australasia posted disappointing numbers. The other divisions were lucrative enough to compensate these losses, but the UK-based operator decided not to push the envelope. Crown Resorts is on a purchasing spree and they are also contemplating the possibility of opening a new casino in Las Vegas. They have already purchased a vacant property for which they paid $280 million.
The gambling industry in Sin City is not doing too well, but compared to the Atlantic City counterparts these casinos are quite successful. Assuming everything goes according to the plan, the new VIP casino will open its doors no sooner than 2017. The deadline has been set for 2018 but if the Australian market keeps posting encouraging numbers, Crown Resorts should have the necessary resources to push the process into overdrive.