Australian casino operator Crown Resorts Ltd said on Wednesday a slump in gambli...
) said on Wednesday a slump in gambling turnover from Chinese high rollers dragged down half-yearly profit, and that travel restrictions associated with the coronavirus would hurt its business.
“Normalised” net profit, which removes variance in win rates, fell 11% to A$172.7 million for the six months ending Dec. 31, the company said, as turnover from high rollers on gambling trips, known as “VIPs” and largely Chinese, tumbled more than a third. The reports, which Crown took out full-page newspaper advertisements to deny at the time, prompted several regulatory probes in Australia. The company has since installed a new CEO, Barton, and a new chairman.
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