Thunder
Is the Australian gaming market primed for a resurgence ? By Jess Marquez
Down Under
Crown Melbourne
Following the Australian gaming market over the last half-decade has been eerily similar to the experience of following an Australian Open final on Centre Court — one ’ s head continuously snaps back and forth in an attempt to keep pace with the constant change , with the highest stakes on the line ; sometimes the ball cracks to and fro in an epic rally , and other times it careens headlong into the net . Either way , the emphatic groans from either side can always be heard , and invariably , the bettors look on with eager anticipation .
The list of twists and turns in such a short period of time is exhaustive , and couldn ’ t fit the entirety of this issue . The longstanding dual empires of Crown Resorts and Star Entertainment have both been brought to the verge of ruin , and depending on who you ask , may have already eclipsed that mark .
Both have been saddled with governmental inquiries resulting in hundreds of millions in fines for widespread anti-money laundering violations among other regulatory failures , and both C-suites have been all but cleared out in attempts to return to suitability in several states .
Regulators throughout the country have beefed up enforcement measures almost continuously , and in some cases have spawned entirely new divisions in reaction to the tumult . A phased , three-year iGaming advertising ban is currently under review before the federal government , and sports leagues are under increasing pressure to ditch bookmaker sponsorships altogether .
And yet , even in the midst of all this , one thing remains true : the resiliency and appetite of Australian punters remain extremely strong , perhaps more so than ever . According to a study from the Australian Gambling Research Centre , an astonishing 73 percent of legal adults ( 18-plus ) reported
Star Sydney
spending money on at least one form of gambling in 2022 ; the average number of offerings purchased was two , but almost a quarter ( 23 percent ) of respondents cited at least six offerings , from lotteries to slots , sports betting , racing and more .
Based on such data , the Australian market is still widely accepted as the most lucrative and prolific market per capita in the world , surpassing counterparts such as the U . S ., U . K ., Macau and others . This is despite the laundry list of recent developments mentioned above .
Now that extensive remediation efforts are under way , there is increasing optimism that the Aussie market will return in a big way in 2024 and beyond — that said , the race for market share is also still under way , and only the best and brightest will capitalize on this unique opportunity .
“ The Australian market is a large market both in number of machines and revenue . Meanwhile , online sports betting in Australia continues to grow . However the future of gaming unfolds in Australia , GLI is dedicated to the market , and we will continue to provide the world ’ s best testing , compliance and consulting services .”
— Ian Hughes , Chief Operating Officer , GLI , and Managing Director , GLI Australia
28 Global Gaming Business MARCH 2024