February 25, 2021
In Australia and prominent casino operator Crown Resorts Limited has reportedly been ordered to immediately stop using junket firms in order to help lure high-value foreign players to its Crown Perth facility.
According to a Wednesday report from the online news domain at News.com.au, the command from the Gaming and Wagering Commission of Western Australia follows an earlier decision by the gaming regulator for New South Wales not to grant the firm a casino license for its new Crown Sydney development. The source detailed that this latter judgment came after a wide-ranging investigation by the New South Wales Independent Liquor and Gaming Authority determined that the company’s previous junket partners could have potentially committed a slew of money laundering offenses.
Crown Resorts suffers record six-month loss due to COVID-19 closures
21 February 2021
Crown Resorts Limited, Australia s largest gaming & entertainment group, has confirmed that it suffered a hefty loss due to a steep decline in revenue during the six months to the end of December 2020. The Sydney-listed gaming giant said it suffered an overall loss of around $93.5 million during the July through December period of last year. The figure represents a decline of 155 per cent in half-year earnings as compared from the corresponding period of the previous year. The loss was accompanied by an analogous 62.1 per cent fall in aggregated revenues to around $449.4 million.
February 18, 2021
The value of individual shares in Crown Resorts Limited increased slightly earlier today despite the Australian casino operator having publicized an overall loss of around $93.5 million for the six months to the end of December.
The Sydney-listed firm used an official press release (pdf) to detail that the 155% comparable drop in half-year earnings was accompanied by an analogous 62.1% decline in aggregated revenues to about $449.4 million. The company moreover explained that this came as its Crown Melbourne facility recorded a steep 90.5% decline in six-month receipts to about $75.2 million with its sister Crown Perth venue having copped a less drastic 5.3% diminution to roughly $316.8 million.
Australia s Crown Resorts not suitable for Sydney gaming license: Inquiry Commission topnews.net.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from topnews.net.nz Daily Mail and Mail on Sunday newspapers.
February 10, 2021
In Australia and the Consolidated Press Holdings Proprietary Limited (CPHPL) vehicle of billionaire businessman James Packer has reportedly severed its boardroom ties with prominent casino operator Crown Resorts Limited.
According to a Tuesday report from the Australian Broadcasting Corporation, the investments enterprise holds a preeminent 36% stake in the casino firm although it has now nevertheless terminated the consultancy contract it held with Crown Resorts Limited non-executive director John Poynton.
Voluminous vacuum:
CPHPL appointee left on the board of
Crown Resorts Limited following the Tuesday resignations of fellow non-executive directors
Guy Jalland and
Michael Johnston. Although the experienced businessman is to remain on the Sydney-listed casino firm’s board, the move purportedly means that