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Tabcorp wants more sparkle at Star City15 October 2008SYDNEY, Australia -- As reported by The Sydney Morning Herald: "...can a new outdoor poker machine area, sports betting area and a lick of paint really transform Star City from an ugly duckling into a swan? "The Citi gambling analyst Jenny Owen, the most bearish of all analysts, is sceptical, saying Tabcorp's ambitions for increased visitor numbers and spending after the $475 million refurbishment may be too high. "...At a presentation at the casino on Friday Tabcorp said it expected a return of at least 11 per cent from its investment. "...Current trading at the casino is not good. Cashed-up gamblers are thinner on the ground, while low-end gamblers are still turning up to play the one-armed bandits but are spending less, Tabcorp said on Friday..." |