Australia’s Crown Resorts 22 FY Revenue Loss of $642 Million

Crown Resorts Limited, Australia’s largest gaming and entertainment group, has seen revenue decline by A$1 billion, or about $679 million, in the year to June 30, 2022.

Crown said on Tuesday in data provided to the Australian Securities and Investment Commission (ASIC), known as a regulator of registered companies and financial markets, that it had a net loss of A$945.4 million (about $642 million) in 22, regardless of a 20% annual revenue growth of A$1.9 billion (about $1.29 billion).

The company also reported an EBITDA loss of A$699.6 million, or approximately A$476 million. 경마사이트

The Crown Resort has had a very unsuccessful year. The company has faced a number of hurdles, such as multiple headwinds, the impact of the nationwide COVID-19 pandemic and regulatory action by national regulators.

The Victorian Gambling and Casino Control Board (VGCCC) last year fined subsidiary Crown Melbourne 200 million Australian dollars for various offences caught through the Royal Commission.

Mark McWinnie, CEO of Crown Sydney, a subsidiary of Crown Resorts, said: “Financial performance reflects the challenging environment Crown has faced during the pandemic and has had a significant impact on operations, particularly in the first half of the year.

“Throughout the year, Crown has also explored important regulatory issues. These issues are ongoing and we continue to work with the parties concerned on the resolution.”

Leave a Reply

Your email address will not be published. Required fields are marked *