Loads of unofficial money becoming official helps with that
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Last count New Zealand had about $7 billion unofficial money so you are very much correct.
A lot of cash is taken overseas, you just need to watch those programs like boarder patrol to see a certain group of people who carry wads of cash and who only deal in cash..... They also love to gamble.
decided to have a punt today , think things might be looking up under there strategy refresh
Excellent Result IMO...some points to ponder...
Darwin casino sale is crucial as the proceeds may be used to buy more assets or cut down debt(Nigel Morrison-Ex CEO was focused on the latter
Impetus on building more hotels is a good sign as Auckland faces a huge shortage on rooms.
Online Gambling focus seems to me as a "Trump Card"
Also i see an increase on Non-Gaming revenue which sort of Cushions the NPAT... The flash restaurants on the federal street does do well.
Overall New Chair,CEO---looks to me as a refreshed team.
Interesting times...
see crown resorts announced very good results today , vip up too whole sector looks good at the moment
read the ceo saying they are only investing in nz and aus and have up too 2- 3 new hotels either planned or investigating in nz
star ent just released there results , showed strong growth as well and stated 2019 yr has started strong. same for skc? would think so whole sector nz/aus seems to be doing well at the moment
bit of a laggard , wonder when we hear about perth sale?