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Australian Casino Revenue Growth Slows Down

24 January 2003

AUSTRALIA –As reported by the Sydney Morning Herald: "Gamblers lost more than $2.5 billion (US$1.48 billion) at Australian casinos last financial year - but after more than a decade of growth, casino gambling revenue has virtually stopped rising, a survey shows.

"The survey, conducted for the Australian Casino Association, showed the market had `matured', said the association's head, Chris Downy.

"But anti-gambling advocates said that while the trend was welcome, it was too early to celebrate because gambling spending in other venues was still climbing.

"…Professor Jan McMillen, of the Australian Centre for Gambling Research, said the flattening out of gambling spending at casinos was a normal trend for any form of gambling.

"…She said a number of responsible gambling laws had been introduced in recent months that might have an impact on revenue this financial year.

"…The head of the Casino Community Benefit Fund, the Reverend Harry Herbert, said the casinos might also be affected by competition from other gambling venues such as pubs and clubs…"

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