The first thing Steve McCann told us when he took over Star Entertainment was that the casinos business model was busted.
A casino owner could no longer have a giant gaming floor at the heart of an empire with hotels, restaurants, bars and car parks around it. The gaming floor just wasn’t a strong enough lure – or the cash cow it used to be – to pay for all the other stuff.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
