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There seem to be two contributing factors to the industry’s present slump. Firstly China is experiencing the slowest economic growth since 1990. Secondly, President Xi Jinping’s anti-graft campaign has had a negative impact on the VIP high rollers. This anti-corruption stance has meant many high-stakes gamblers have chosen to avoid any scrutiny by authorities into their affairs during the holiday period. This sentiment was echoed by Grant Govertson, an analyst at Union Gaming Group. More so, he emailed Bloomberg to say: ‘The biggest culprit for the weak month was the already-troubled VIP segment. While we believe there was a pickup in VIP headcount, gaming volumes just weren’t there.’

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However, Mr Triguboff also stated that he would support other developments that would benefit Southport residents. In 2014, he also donated a large sum of money to keep the Bowls club from closing down. It’s unclear at this point whether or not the proposal will be approved by the Queensland Premier. Palaszczuk has been against the idea of another Queensland resort since proposals were put forward earlier in 2017.

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