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Australian Casinos Nearly Double Profits in 1995-96

6 March 1997

CANBERRA - XINHUA reports that Australia's 14 casinos generated a gross income of 2.23 billion Australian dollars (1.74 billion U.S. dollars) for 1995-96, with a pre-tax profit of 198 million Australian dollars (155 million U.S. dollars) from 107.4 million dollars (83 million U.S. dollars) a year earlier.

According to the Australian Bureau of Statistics today, the gross income represented an increase of 36 percent over 1994-95 and the major source of income was from gambling of 1.88 billion Australian dollars (1.46 billion U.S. dollars), which accounted for 84 percent of the total.

At the end of June 1996, there were 18,490 people employed by the casino industry, a rise of 17 percent since June 1995.

Yesterday, Sydney Harbor Casino, the biggest in the country, reported a net profit of 48.9 million Australian dollars (38.1 million U.S. dollars) for the 12 months to December 31, 1996.

Average daily attendance during the December quarter was about 13,000 and it surged to an average of more than 15,000 a day during the first two months of 1997.

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