Crown profits up by 53%
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AAP
2012-08-10
Casino operator Crown's full year profit grew by 53 per cent as revenue from its Australian operations increased on the previous year.
But, Crown said on Friday, gaming revenue growth slowed in the second half of the 2011/12 financial year, in general gaming and also high rollers.
Crown's net profit for the year to June 30 of $513.3 million was up from $335.9 million in the previous year.
Revenue in the year to June of $2.8 billion was an increase of 17 per cent from $2.4 billion in the previous year.
Chief executive Rowen Craigie described the results for Crown in Melbourne and Perth's Burswood casino as mixed.
"During the year, we saw reasonable revenue growth at both properties, although in some areas this was offset by higher operating costs," he said in a statement.
"At Crown Melbourne, in particular, we saw a softening of activity in some segments of main floor gaming and non-gaming operations in the second half of the year, as well as the effects of refurbishment disruption on operating margins."
