Australian casino operator, Crown Resorts Limited, has released its financial results for the twelve months to the end of June showing that its net profit for the period had decreased by 28.1% year-on-year to approximately $273.03 million.
The Sydney-listed firm used an official filing (pdf) to detail that its actual annual earnings before interest, tax, depreciation and amortization had risen by 7.2% year-on-year to reach slightly over $577.45 million although the normalized figure was 8.7% lower at about $545.15 million.
Crown Resorts Limited is responsible for the Crown Perth facility in Western Australia as well as Victoria’s giant Crown Melbourne venue and was the subject of an unsuccessful takeover attempt by American counterpart Wynn Resorts Limited in April. The Melbourne-headquartered operator also runs the Crown London Aspinalls facility in the United Kingdom and used today’s filing to explain that it would be paying a dividend to investors in October worth around $0.20 per share.
The firm stated that its Crown Melbourne venue had seen its annual revenues decline by 3.7% year-on-year to approximately $1.47 billion thanks in large part to an associated 19.6% drop in VIP takings to roughly $308.37 million. It declared that this 1,600-room property had moreover experienced a 0.7% increase in comparable mass-market table games earnings to $525.01 million while its slots had brought in 2.8% more at almost $314.51 million.
For its Crown Perth facility, Crown Resorts Limited clarified that twelve-month revenues had fallen by 3.6% year-on-year to $551.79 million while VIP play had been worth some 16.2% less at $57.36 million. The operator furthermore explained that the 33-year-old development had experienced a 0.8% boost in comparable slot takings to just shy of $181.71 million although its main floor gaming tables had brought in 6% less at about $126.93 million.
Finally, the Australian enterprise detailed that overall annual revenues at its Crown London Aspinalls had plummeted by 25.6% year-on-year to $38.25 million as VIP takings inside the London facility dropped by 26.1% to around $37.51 million.
The publication of Crown Resorts Limited’s annual financial results comes amid claims that the operator is being investigated over allegations that Chinese organized crime syndicates may be using high-roller-friendly junket services to illegally launder money through its casinos. These contentions preceded Monday’s news that Macau junket giant Suncity Group is to shutter its Crown Melbourne operation while additionally abandoning all ties with The Star Sydney, which is run by The Star Entertainment Group Limited.