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CWNHB - Crown Resorts News Story

A$92 0.1  0.1%

Last Trade - 18/09/20

Consumer Cyclicals
Large Cap
Market Cap £3.52bn
Enterprise Value £4.00bn
Revenue £1.26bn
Position in Universe 86th / 1830

Australia's Crown says VIP turnover from domestic casinos slides

Thu 26th October, 2017 12:50am
Oct 26 (Reuters) - Australia's Crown Resorts Ltd  CWN.AX  
said on Thursday that VIP turnover at domestic casinos had 
tumbled 17 percent in the current financial year - a slide that 
comes in the wake of a major setback which has discouraged 
wealthy Chinese punters. 
    In 2016, more than a dozen Crown staff were jailed in China 
for marketing casino holidays abroad, in violation of the 
country's strict anti-gambling laws. 
    "Crown Melbourne's VIP program play turnover exceeded 
expectations, which is encouraging given that most of the prior 
corresponding period preceded the detention of Crown's staff in 
China," Executive Chairman John Alexander in prepared remarks to 
for the company's annual general meeting. 
    Crown also said on Thursday that it would continue to invest 
in Australian properties to remain competitive. 
 (Reporting by Shashwat Pradhan in Bengaluru; Editing by Byron 
Kaye and Edwina Gibbs) 
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