{"id":4894,"date":"2021-09-01T12:28:36","date_gmt":"2021-09-01T12:28:36","guid":{"rendered":"https:\/\/www.top10casinowebsites.net\/news\/?p=4894"},"modified":"2021-09-01T12:28:36","modified_gmt":"2021-09-01T12:28:36","slug":"crown-resorts-suffers-losses-of-over-261m-due-to-investigations-and-covid","status":"publish","type":"post","link":"https:\/\/www.top10casinowebsites.net\/news\/crown-resorts-suffers-losses-of-over-261m-due-to-investigations-and-covid\/","title":{"rendered":"Crown Resorts Suffers Losses Of Over $261M Due To Investigations and COVID"},"content":{"rendered":"

\"CrownAustralia\u2019s biggest casino operator<\/a>, Crown Resorts<\/strong> has reported an annual loss of $261.6 million. The last fiscal saw Crown bring in $79.5 million profits but the losses this year do not come as a surprise as the casino operator has faced multiple investigations, battled numerous allegations and has had to deal with the COVID-19 shutdown throughout the country.<\/p>\n

Shareholders will not receive any dividend for the year as revenues fell by 31% to $1.54 billion in the 12 months ending June 30.<\/p>\n

Crown Resorts has been subjected to investigations in New South Wales, Victoria and Western Australia. Crown is expecting a decision from the royal commission who will determine whether the operator is fit to continue to operate its flagship Melbourne casino<\/a>. A decision is anticipated by October 15, with options ranging from a state-supervised management reform to the termination of the company’s license.<\/p>\n

Crown\u2019s misfortunes seem to be never ending, as it staring at another royal commission in Western Australia and also the aftermath from the Bergin probe in New South Wales, which ruled it “unsuitable<\/em>” to operate a newly built casino in Sydney due to its poor credentials in Melbourne.<\/p>\n

7NEWS Australia<\/strong><\/p>\n

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