Crown Resorts has blamed a 34 per cent dive in high-roller turnover on weak market conditions and 'negative publicity' stemming from revelations the casino giant it went into business with 'junket' tour operators with links to organised crime
as part of its efforts to lure wealthy Chinese VIPs to its casinos.
Poker machine and main-floor gaming revenue was flat at $872 million, while non-gaming revenue, such as from hotel rooms and restaurants, was up 2 per cent to $408 million. Hong Kong casino group Melco Resorts agreed to buy a 20 per cent stake in Crown from James Packer in May and signalled its intention to increase its ownership further.with Melco saying it would increase its investment beyond the 10 per cent it had already paid Mr Packer and would not seek board seats.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How a Tassie fisherman stays a float as the price of lobster divesIn Tasmania's north-west, fisherman Scott Inkson is one of the lucky ones who may survive the impact of the coronavirus on the lobster industry.
Read more »
I don’t want my rights shackled to appeasing conservativesComment: To those who worry the recent High Court decision will be misused by opponents of constitutional recognition, I say it is better to aim high and raise Australia with us, writes Stan Grant
Read more »
Barry O'Farrell appointed as Australian High Commissioner to India | Sky News AustraliaBarry O'Farrell has been appointed as Australia’s next High Commissioner to India. \n\nThe former NSW Liberal Premier replaces Harinder Sidhu, who has held the post since February 2016.\n\nMr O'Farrell will be charged with strengthening ties with India, which is one of Australia's most important strategic and trading partners. \n\nImage: News Corp Australia
Read more »
Household bills overtake rent to be the biggest drain of moneyFor the first time, mortgage and rent costs have been overtaken as our biggest money headache. But there are things you can do to ease the pain.
Read more »
Brisbane commuters take to social media to kick up a fuss over the big boot's removalA humble, but very big, brown boot is seen disappearing into the sky via a crane, prompting commuters to take to social media to ask the obvious question.
Read more »
Survivor shock: ‘Complete and utter blindside’Survivor All-Stars contestant Abbey Holmes couldn’t have been more shocked when a tribal council blindside saw her booted from the game during Monday night’s episode.
Read more »