Australian casino operator Crown Resorts has announced its results for the year ended December 31, 2018.
The company reports revenue of AU$1.536m, (€969.9m) down 1.2 per cent, with main floor revenue up 0.9 per cent at AU$867.7m. (€547.9m). The EBITDA was AU$408.9m, (€258.1m) up 0.5 per cent.
John Alexander, chairman, reported that the Australian operations in the first half reflected mixed trading conditions and there was modest revenue growth in Melbourne, offset by continued soft performance in Perth.
The group has Crown Melbourne as its flagship resort, and also Crown Perth and Crown Aspinalls in London. The report showed that the London venue saw EBITDA down 36.4 per cent. “This reflects continued difficult tradition conditions across the London high-end casino market.”
Crown Digital, the wagering and online social gaming operations, comprising Betfair Australasia and DGN Games was down 14.7 per cent at AU$7.5m (€4,7m). The figures also included the consolidated operating results of CrownBet, which was sold in February of last year.
The construction of the Crown Sydney Hotel Resort is on schedule, said the company, with the tower structure up to level 28 and should be completed in the first half of 2021 at a total gross cost of AU$2.2bn (€1.38bn). The proposed One Queensbridge project, a 50-50 joint venture between crown and the Schiavello Group, a new 388-room luxury six-star hotel and apartment block remains subject to financing.
