During a six month time frame, The Star Casino in Sydney, Australia saw six VIP gamblers earn close to A$80 million, by playing baccarat and beating the house time after time. The high rollers would wager as much as A$500,000 per hand and win, causing The Star to lose tens of millions in the short time frame.
The VIPs wagered A$22 billion in total from July to December 2015 at The Star, which had an effect on the bottom line of the casino. On Tuesday, the casino reported on how the luck of the VIP gamblers at the baccarat table hurt their performance for the year.
The VIP business of The Star thrives on winning A$1.43 on each A$100 wagered at the gaming tables. This win rate saw a slump during the VIP gamblers run at the baccarat tables, dropping the win rate to $0.88 cents per A$100 wager. Matt Bekier, The Star Chief Executive, stated that the wins were a ‘freakish result’ and it was the six individuals who accounted for the majority of the loss. The players frequent the casino on a regular basis and just managed to come out ahead this time around.
Bekier continued by stating the casino hopes the gamblers come back and they read little into the pattern of winning, other than the casino having bad luck. The venue completes analysis of the game play and probability of play. Having looked at the VIPs game play from every angle, they see nothing but bad luck and feel the gaming will normalize and this was just one of those crazy runs at the gaming tables.