Crown Resorts has shared its financial results for its Perth venue at its annual general meeting.<\/p>\n\n\n\n\n\n\n\n
Australia.-\u00a0Crown Resorts has revealed that revenues for its Perth casino declined by 9 per cent\u00a0<\/strong>in the three months to October 17 when compared to the same period last year. Non-gaming revenue was up 34 per cent year-on-year.<\/p>\n\n\n\n However,\u00a0the figure is still up 6 per cent when compared to pre-pandemic levels<\/strong>. There were no figures for Crown Melbourne or Crown Sydney as both venues were closed for most of the period due to Covid-19 countermeasures.<\/p>\n\n\n\n Steve McCann, Crown Resorts CEO <\/strong>said: \u201cWe are continuing to see elevated legal, consulting and other costs associated with the multiple concurrent inquiries and regulatory processes. “We now expect corporate costs for the 2022 financial year to come in higher than last year at around $130m.\u201d<\/p>\n\n\n\n Crown Melbourne<\/strong>\u00a0has reopened its non-gaming facilities today and hopes to reopen the casino on November 5. Crown Sydney<\/a>\u00a0reopened its doors on October 11.<\/p>\n\n\n\n Western Australia\u2019s Royal Commission\u00a0<\/strong>received\u00a0submissions from the Financial Counselling Australia<\/a>\u00a0(FCA) claiming that several players went to the organisation after being threatened by loan sharks at\u00a0Crown Perth<\/a>.<\/p>\n\n\n\n The FCA claimed that unauthorised moneylenders were operating with impunity at the casino<\/strong>. It said that in one cases, a lender approached a losing player on the Crown Perth casino floor <\/strong>and offered him an AU$10,000 loan. The player lost the acquired cash, leading to threats from the predatory lender. <\/strong><\/p>\n\n\n\n The FCA, a not-for-profit organisation that helps people in financial difficulty, said the casino operator had never taken action to stop such practice<\/strong>. However, Brian Lee, general security and surveillance manager at Crown\u2019s Perth venue<\/strong>, insisted that the operator had worked to prevent loan sharks from entering the premises.<\/p>\n","protected":false},"excerpt":{"rendered":" Crown Resorts has shared its financial results for its Perth venue at its annual general meeting.<\/p>\n","protected":false},"author":176,"featured_media":19861,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Crown Resorts reported a 9% decline in Perth casino revenue for the three months to October 17, though non-gaming revenue increased, while anticipating higher corporate costs of approximately $130m for FY2022 due to ongoing regulatory inquiries. Concurrently, the Western Australia Royal Commission heard allegations of unchecked loan shark activity at Crown Perth, raising significant governance and compliance concerns. Crown Melbourne and Sydney are reopening after COVID-19 closures.","focusai_entities":"Crown Resorts, Steve McCann, Financial Counselling Australia, Brian Lee","focusai_location":"Australia, Perth, Melbourne, Sydney, Western Australia","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), payments_fraud_aml (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Regulatory Impact on Valuation","query":"How might the escalating corporate costs and ongoing regulatory inquiries, particularly concerning illicit activities like loan sharking, impact Crown Resorts' long-term valuation and its ability to secure future licensing approvals?"},{"label":"Operational Compliance Efficacy","query":"What specific enhancements to Crown Perth's security and surveillance protocols, beyond current measures, are being implemented or considered to effectively mitigate the documented risk of unauthorized moneylending on casino premises?"}],"footnotes":""},"categories":[16336,163],"tags":[20215,14657],"class_list":["post-23810","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-finance-news","tag-crown-perth","tag-crown-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23810","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=23810"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23810\/revisions"}],"predecessor-version":[{"id":23819,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23810\/revisions\/23819"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/19861"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=23810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=23810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=23810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Crown Perth players threatened by loan sharks, inquiry hears<\/h2>\n\n\n\n