The Australian gaming behemoth, Crown Resorts, has announced a decrease in earnings in its financial report for the first half of the year. Although the corporation experienced revenue expansion, profits suffered a setback, primarily attributed to the faltering Macau casino sector.
For the six-month period concluding on December 31, 2015, Crown’s post-tax net income plummeted by 24% to $200.7 million Australian dollars. This reduction was substantially impacted by the performance of Melco Crown Entertainment (MCE), Crown’s collaborative enterprise in Macau. MCE, encompassing casinos and lodging establishments in Macau and City of Dreams Manila in the Philippines, witnessed a 66% profit plunge due to the demanding Macau market.
Notwithstanding the profit downturn, Crown conveyed encouraging developments in its Australian resorts, with a 9.8% surge in revenue from primary gaming floor operations. Chief Executive Officer Rowan Craigie acknowledged the challenging high-roller market in Asia but emphasized the Australian resorts’ strength and expansion.
