Crown focuses on cost control, Asian tourism

In the company's annual report, Crown chairman James Packer said that he would continue to focus on upgrading Crown's Australian projects to compete with new casinos in Asia, while keeping a close eye on cost control.  Next month the company's shareholders will vote on a name change to 'Crown Resorts', reflecting its desire to invest heavily in tourism infrastructure both at home and abroad.  "My vision for Crown sees us as a leading global luxury brand, with a clear focus on Asian tourism", said Packer.  Crown's profit was down 23 percent from the previous year's $396 million due to weaker consumer sentiment.

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