Crown suffers drop in revenues

Crown Resorts, a casino operating company based in Australia, has reported a drop in revenues for the year ended 31 December 2018.

The company posted a revenue of AU$1.536m, (€969.9m), a decrease of 1.2 per cent. The EBITDA was AU$408.9m, (€258.1m), small hike of 0.5 per cent.

Crown Melbourne is the flagship resort of the company. Crown Perth and Crown Aspinalls in London are the other major casinos. The EBITDA from London resort dropped by 36.4 per cent cent. “This reflects continued difficult tradition conditions across the London high-end casino market,” John Alexander, chairman, said.

He pointed out that Australian operations in the first half reflected mixed trading conditions and there was modest revenue growth in Melbourne, offset by continued soft performance in Perth. Crown Digital, the wagering and online social gaming operations, comprising Betfair Australasia and DGN Games was down 14.7 per cent at AU$7.5m (€4,7m). The figures also included the consolidated operating results of CrownBet, which was sold in February of last year.