Crown Perth revenue drops 10 pct in 12 months
Between July 1, 2017, and June 30, 2018, GGR for Crown dropped to €348.4 million, dragged by a 24% decline in revenue from baccarat.
Australia.- The Gaming and Wagering Commission announced that Crown Resort’s Crown Perth posted a 10% revenue decline between July 1, 2017, and June 30, 2018, after recording GGR of €348.4 million.
According to the financial reports, the drop in revenue for Crown Perth was mainly generated by a 24% decrease in baccarat revenue. After posting a baccarat GGR of just €100 million, the game kept the downward trend it has been in since 2014, dropping 57% ever since and staying far away from its record €236.6 million GGR.
Crown Resorts hoped to get rich Asian gamblers pouring money on the venue but, as baccarat (an Asian favourite) resuls show, it has failed to get the results it looked for with its €400 million redevelopment plan. As reported by the company, the main reason behind its failure was a crackdown on foreign gambling companies by Chinese officials, which caused it to lose popularity among its primary target.
Besise baccarat, blackjack and roulette dived 8% and 11%, raking just €21 million and €32.7 million, respectively. Meanwhile, electronic gaming machines boosted the company’s revenue despite dropping to €162.5 million in turnover.
