Australia’s Crown Resorts has announced a narrowed AU$164.8 million (US$111 million) loss for the 12 months to 30 June 2024, although the 17.4% improvement over last year’s AU$199 million (US$133 million) loss appears to be a result of cost cutting rather than any uptick in business volumes.
According to information filed with the Australian Securities and Investments Commission on Friday, group-wide revenues were 0.2% lower than the prior year at AU$2.8 billion (US$1.88 billion) with Crown also revealing further asset sales as owner Blackstone – which bought the casino operator for AU$8.9 billion (US$5.97 billion) in 2022 – looks to recoup its investment.
