Casinos operator Echo Entertainment says gross revenue for the group in the first 10 weeks of the 2013 financial year has risen 11.1 per cent compared to the same time one year ago.
Echo on Monday said total revenue at the company’s biggest asset, The Star casino in Sydney, was up 26.7 per cent as new facilities at the refurbished venue were opened.
Revenue excluding the international rebate business (high-rolling VIP gamblers) at The Star was up 16.7 per cent.
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 chief executive Larry Mullin said in a statement.
“Both gaming and non-gaming segments are now exhibiting solid growth in line with our expectations.”
Mr 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.
Shares in Echo were two cents lower at $4.10 at 1157 AEST on Monday.
