{"id":27354,"date":"2022-02-17T12:55:25","date_gmt":"2022-02-17T15:55:25","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=27354"},"modified":"2026-04-23T11:14:45","modified_gmt":"2026-04-23T14:14:45","slug":"crown-resorts-reports-a-six-month-net-loss-of-us141-5m","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/crown-resorts-reports-a-six-month-net-loss-of-us141-5m","title":{"rendered":"Crown Resorts reports a six-month net loss of US$141.5m"},"content":{"rendered":"\n

Although statutory revenue was up 34 per cent year-on-year, the six months ending December 31 resulted in a net loss of AUD196.3m.<\/p>\n\n\n\n\n\n\n\n

Australia.- Crown Resorts<\/strong>, which this week backed investment firm Blackstone Inc\u2018s US$6.36bn<\/a> acquisition offer<\/a>, has released its financial report for the last six months of 2021. Covid-19 restrictions widened its net loss to AUD196.3m (US$141.5m)<\/strong>, compared to a loss of AU$120.9m in the previous year. However, statutory revenue rose 34 per cent year-on-year<\/strong>, reaching AUD778.6m (US$560m).<\/p>\n\n\n\n

Crown managing director and CEO Steve McCann<\/strong> said that the company\u2019s first-half performance reflected the continued challenging operating conditions as a result of Covid-19 and the impact of ongoing regulatory matters.<\/p>\n\n\n\n

He said: \u201cWhile we do not underestimate the current headwinds facing Crown, there is growing confidence we have turned the corner. All three of our domestic resorts are back open, with a vaccination strategy to combat Covid-19 providing a pathway forward for our staff, the business and the wider community.<\/p>\n\n\n\n

\u201cWe continue to build momentum on our company-wide reforms, accelerating work on our remediation plan and making significant advances across multiple regulatory processes. Not only are we building a stronger business, but we are also working well with the regulators with a priority to deliver a safe and responsible world-class gaming operation.\u201d<\/p>\n\n\n\n

Crown Melbourne<\/strong> reported revenue of AUD265m (US$190m) for the period, compared to AU$97.1m (US$69.6m) in the prior-year period. Crown Perth<\/strong> reported a 2 per cent decline in revenue of AUD402.9m (US$288.9m).<\/p>\n\n\n\n

Crown Sydney <\/strong>made AUD36.1m (US$25.8m), all of which was generated from non-gambling as it has not yet received permission to open its casino. This was an increase of AUD35.2m (US$25.2m) from H1 2021. The venue was closed for 102 days in the half-year. <\/p>\n\n\n\n

Wagering and online revenue<\/strong> came to AUD69.5m (US$49.8m) in revenue, a decrease of 12.7 per cent year-on-year.<\/p>\n\n\n\n

See also: <\/strong>Crown Resorts accepts US$6.36bn Blackstone takeover bid<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Although statutory revenue was up 34 per cent year-on-year, the six months ending December 31 resulted in a net loss of AUD196.3m.<\/p>\n","protected":false},"author":226,"featured_media":18008,"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 net loss of AUD196.3m for the six months ending December 31, 2021, despite a 34% year-on-year increase in statutory revenue to AUD778.6m. This performance was attributed to persistent COVID-19 operational restrictions and ongoing regulatory challenges, occurring as the company backed Blackstone Inc.'s US$6.36bn acquisition offer.","focusai_entities":"Crown Resorts, Blackstone Inc., Steve McCann","focusai_location":"Australia, Melbourne, Perth, Sydney","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (1.0), payments_fraud_aml (0.7), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Blackstone Acquisition Impact","query":"What specific operational and governance changes are anticipated under Blackstone's ownership to address Crown's persistent regulatory challenges and improve profitability?"},{"label":"Regulatory Remediation Progress","query":"Beyond the stated 'significant advances,' what tangible milestones has Crown Resorts achieved in its remediation plan, particularly concerning AML\/CTF and responsible gambling frameworks, to satisfy regulatory bodies in NSW and Victoria?"}],"footnotes":""},"categories":[16336,163],"tags":[289,14657],"class_list":["post-27354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-finance-news","tag-australia","tag-crown-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27354","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\/226"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=27354"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27354\/revisions"}],"predecessor-version":[{"id":27364,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27354\/revisions\/27364"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18008"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=27354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=27354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=27354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}