Australia

Crown suffers drop in revenues

Published

7 years ago

February 21, 2019

Niji Narayan

Reading Time: < 1 minute

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.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.