Revenue up 11% for casino group Echo
Revenue excluding the international rebate business (high-rolling VIP gamblers) at The Star was up 16.7 %.
Echo said the casino was experiencing "good activation" of improved VIP gaming facilities. "From mid-April on, revenue at The Star has built traction," Echo CEO Larry Mullin said in a statement. "Both gaming and non-gaming segments are now exhibiting solid growth in line with our expectations." Mullin said an events centre that was part of The Star redevelopment was on track to open in early 2013 and would continue to drive the improved performance.
Echo said operating conditions remained soft in Queensland where the company has casinos in Brisbane, the Gold Coast and Townsville.
Total revenue from Echo's Queensland properties was down 11.5 per cent. Visitations and spending across all major lines of business in Queensland remained soft.
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