Thursday, August 18, 2022

Crown Resorts’ main floor gaming revenue up 10 percent


Revenue from Crown Resorts' main floor gaming operations in Australia rose 10 percent from July to October 18, while non-gaming revenue grew by one percent, compared to a year ago.

VIP turnover growth met expectations though the company’s wagering and online businesses incurred losses, chief executive Rowen Craigie told shareholders at the annual general meeting.

"Our wagering and online businesses are showing good revenue growth although still incurring start-up losses including marketing expenses,"

Craigie said the gambling market in Macau continued to suffer year-on-year declines in gross gaming revenue, consistent with the second half of fiscal 2015.

On October 9 Crown Resorts paid a final dividend to its shareholders of 19 cents per share, franked to 50 percent and bringing the full year dividend to 37 cents per share.  

Crown chairman Robert Rankin said a lot had been said about the significant slowdown in trading in Macau, but much of it was short-sighted.

"Macau is a market that has been beneficial to Crown, and we have great faith in its long-term development," Rankin said.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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