The regulatory approval of the proposed Aquis Casino Resort in Cairns gets closer. Proponents call the development a "manmade wonder of world" that will cost billions. According to reports, the Queensland government wants to build it to attract gamblers and their dollars to Cairns.

According to those who support the proposal, the casino will be aimed at the Chinese market. Developers claim it will not only attract:

The Chinese middle class is growing, as are the high-value Chinese upper classes, who spend a lot and have a large budget.

This story is familiar to those with a long memory or who are well versed in the history of Australian casino development. Casinos have been built from Hobart to Darwin in the hope of attracting international tourists, especially those from Asia.

But such hopes are rarely realized. Australian casinos eventually become dependent on "local" pokies - with the exception of the barely profitable Canberra Casino where pokies are banned.

The revenue from poker machines is a major contributor to the Melbourne Crown Casino's bottom line. Crown Casino is often cited as an example of an Australian casino which attracts high-rollers from around the world. The Productivity Commission estimates and Crown's Annual Reports show that pokies have a greater impact on Crown Melbourne's bottom-line than high rollers. In 2008-09, pokies generated an estimated A$376m in profits compared with $330m from high rollers.

Crown's "local gaming", which is a category that is larger than both of these, is $479 million. This is the amount taken in by gamblers who play table games on their main gaming floor.

This time it's different

We are assured that each time a new casino proposal is made, it will be different. We searched for proof that the Aquis Casino in Cairns would attract high-rollers from Asia.

Aquis, despite producing a 4000-page statement on the environmental and social impacts of its project, has not revealed what gaming facilities it will build. The Australian Competition and Consumer Commission has received more information. ACCC states that the casino is only going to offer 750 gaming tables, but 1500 poker machines 우리카지노. The casino's gaming product configuration indicates a desire to attract Cairns residents.

Chinese gamblers seldom play pokies. Macau's "market cultivation" attempts to increase demand for poker machines has been a colossal failure. According to the most recent figures, only 4% of Macau's gaming revenue is spent on poker machines.

Between 2012 and 2014, Macau casino operators actually decreased the number of pokies that they offered by more than 20%. Locals will be the majority of those playing pokies at Aquis.

Even after adjusting for losses at other pubs or clubs, adding 1500 additional pokies to Cairns will likely drain a huge amount of resources from the community. According to our modelling, Cairns residents will spend, on average $240 more per year, per adult, on pokies. This would amount to $56 million in additional revenue per year for the city by 2021.

The figures do not reflect the estimated total revenue generated by Aquis Pokies. They are the additional dollars that Cairns residents will lose on top of the $660 they spend annually, on average, at existing pubs and nightclubs.

These averages also hide the unequal distribution in poker machine losses within the community. Based on our estimates, which are based upon an analysis by the Productivity Commission of gaming surveys in Queensland, only 950 problem players will account for $22 million out of the $56 million additional losses. Around 3000 "moderate-risk" gamblers lose an additional $12 million each year.

Those who do not report gaming harm will only lose $16 million. Those who only report one or two signs will lose an additional $8 million.