{"id":99,"date":"2024-06-14T08:39:45","date_gmt":"2024-06-14T05:39:45","guid":{"rendered":"https:\/\/reddognodepositbonuscodes.icu\/2024\/06\/14\/crown-resorts-reports-mixed-financial-results-with-profit-decline-and-revenue-growth\/"},"modified":"2024-06-17T13:26:22","modified_gmt":"2024-06-17T10:26:22","slug":"crown-resorts-reports-mixed-financial-results-with-profit-decline-and-revenue-growth","status":"publish","type":"post","link":"https:\/\/reddognodepositbonuscodes.icu\/2024\/06\/14\/crown-resorts-reports-mixed-financial-results-with-profit-decline-and-revenue-growth\/","title":{"rendered":"Crown Resorts Reports Mixed Financial Results with Profit Decline and Revenue Growth"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/9sv5gKp_Y20\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>The latter half of 2015 saw a decline in Crown Resorts&#8217; profits, with net income plummeting by 24% compared to the corresponding period the previous year. This resulted in a reduction of their after-tax earnings to $200.7 million in Australian currency. <\/p>\n<p>However, there were some silver linings. The corporation experienced an uptick in revenue, with total revenue surging by 10% to $1.87 billion Australian, while earnings before interest, taxes, depreciation, and amortization (EBITDA) saw a robust 13% increase, reaching $4.559 billion Australian.<\/p>\n<p>The company attributed the results of its Melco Crown Entertainment (MCE) investments to the &#8220;muted market conditions in Macau,&#8221; which encompasses their hotel\/casino in Macau and City of Dreams Manila in the Philippines. Crown&#8217;s portion of MCE&#8217;s adjusted net profit after tax contracted by 66%, settling at $37.2 million Australian.<\/p>\n<p>Analyzing the adjusted figures, which exclude factors such as theoretical win rates from VIP initiatives, pre-opening expenses of MCE, and impairments from the preceding year, a comparable pattern emerges. Profits, as measured by net profit after tax, dwindled by 36% to $206 million Australian, and EBITDA contracted by 6% to $424.4 million Australian. Conversely, revenue painted a more optimistic picture, expanding by 8% to $1.85 billion Australian.<\/p>\n<p>Crown CEO Rowen Craigie emphasized the favorable aspects, remarking, &#8220;Main floor gaming revenue at our Australian resorts rose by 9.8%, representing a commendable performance.&#8221; He further elaborated on the decrease in VIP program revenue, which dipped by 3.8% to $357 million Australian, stating, &#8220;This is a satisfactory outcome considering the significant 61.4% growth achieved in the prior comparable period and the restrained climate for VIP program participation across Asia.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The latter half of 2015 saw a decline in Crown Resorts&#8217; profits, with net income plummeting by 24% compared to the corresponding period the previous year. This resulted in a reduction of their after-tax earnings to $200.7 million in Australian currency. However, there were some silver linings. The corporation experienced an uptick in revenue, with [&hellip;]<\/p>\n","protected":false},"author":101,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crown Resorts Profits Dip, But Revenue Soars: What<\/title>\n<meta name=\"description\" content=\"Crown Resorts saw profits fall in late 2015, but revenue and EBITDA climbed. 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