{"id":777010600,"date":"2023-10-26T06:57:42","date_gmt":"2023-10-26T09:57:42","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777010600"},"modified":"2026-04-22T16:47:17","modified_gmt":"2026-04-22T19:47:17","slug":"crown-resorts-posts-full-year-loss-despite-revenue-increase","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/crown-resorts-posts-full-year-loss-despite-revenue-increase","title":{"rendered":"Crown Resorts posts full-year loss despite revenue increase"},"content":{"rendered":"\n<p>Crown Resorts posted an AU$199m loss for the financial year.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Australia.- Crown Resorts has posted a loss for the third consecutive year. The casino operator reported a loss of AU$199m (US$125.18m), an improvement from the AU$1bn (US$629.06m) loss in financial year 2019.<\/p>\n\n\n\n<p>Revenue for the year ending June 30 was AU$2.7bn (US$1.69bn), up 44 per cent year-on-year. Crown Melbourne generated AU$1.4bn and Crown Perth AU$854m. Crown Sydney,\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/crown-sydney-opens-casino-for-vip-gaming\" target=\"_blank\">which opened its gaming facilities in August 2022<\/a>, saw a 139 per cent increase in sales, inclusive of contributions from Barangaroo Tower tenants. However, the venue <a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/crown-sydney-to-close-one-vip-gaming-room\" target=\"_blank\">closed one of its two gaming floors<\/a>\u00a0and cut 95 jobs, citing insufficient foot traffic.<\/p>\n\n\n\n<p>Revenue across the three casinos remains behind pre-pandemic figures. Meanwhile, Crown has been hit with penalties for regulatory failings. In July, the <a href=\"https:\/\/focusgn.com\/asia-pacific\/federal-court-approves-us293-4m-settlement-between-crown-and-austrac\">Federal Court imposed an AU$450m (US$293.4m) fine<\/a>. Crown has had to revamp its board, management and procedures to meet regulatory requirements. It was granted a conditional licence to operate its Barangaroo casino until December 31.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crown Resorts posted an AU$199m loss for the financial year.<\/p>\n","protected":false},"author":176,"featured_media":25558,"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 an AU$199m loss for the financial year, marking its third consecutive annual deficit, despite a 44% year-on-year revenue increase to AU$2.7bn. The operator continues to navigate significant regulatory challenges, including a recent AU$450m fine and a conditional license for Crown Sydney, which has also seen operational adjustments due to insufficient foot traffic.","focusai_entities":"Crown Resorts, Federal Court","focusai_location":"Australia, Melbourne, Perth, Sydney, Barangaroo","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (1.0), payments_fraud_aml (0.8), investor_analyst (1.0), supplier_vendor (0.9), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Crown Sydney Strategy","query":"What specific strategic adjustments, beyond the gaming floor closure, is Crown Resorts implementing to enhance foot traffic and optimize profitability at Crown Sydney, particularly given its conditional license status?"},{"label":"Regulatory Impact","query":"How will the AU$450m Federal Court fine and ongoing regulatory compliance mandates impact Crown Resorts' capital allocation, operational expenditure, and long-term growth projections in the Australian market?"}],"footnotes":""},"categories":[16336,163],"tags":[14657],"class_list":["post-777010600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-finance-news","tag-crown-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010600","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=777010600"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010600\/revisions"}],"predecessor-version":[{"id":777041075,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010600\/revisions\/777041075"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25558"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777010600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777010600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777010600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}