Crown’s second half net profit up


17 members of Crown Resort staff were arrested in China last October.

The company announced its net profits results ending December 31.

Australia.- Crown Resorts released a report where the company details the second-half net profit of US$275 million. The period that ended on the last day of December 2016 was 75 percent higher than the same one in 2015.

Without significant items, net profit fell 9 percent to US$191 million. Back in December, the company agreed to sell 13.4 percent of its stake in Melco Crown Entertainment for US$1.6 billion to Melco international. Analysts believe that the sale helped the operator to boost its profits, and that it will path the way for a simplified organisation structure. “This new structure will ensure that for the near term, there is a major focus on the performance of Crown’s key Australian operations, its existing projects, Crown Sydney and Queensbridge Hotel Tower and Crown’s digital businesses.” said John Alexander, Crown’s upcoming CEO.

Earlier this week, the company announced that Alexander will replace Rowen Craigie become the new CEO after ten years of being in charge. Craigie began his long career at the company back in 1993, and will remain as a consultant on unspecified upcoming projects.