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Crown Resorts Earning Report
Thursday, February 25, 2016 : MACAU WOES HIT AUSSIE GAMBLING GROUP
Even digital performance is down at Crown.
Aussie gambling group Crown Resorts has posted a dismal half year report for the period ended December 2015, revealing that even its online operations - usually a highlight in gambling firms and including social gaming - sustained an EBITDA loss of A$9.8 million.
The operations included well-established enterprises like CrownBet, Betfair Australasia and DGN Games in 2015.
The downward trend was reflected in the performance of Crown's land interests, with the group reporting net profit down 22.1 percent y-o-y at A$205 million, and the company blaming poor performances in Macau due to the Chinese government crackdown that has decimated the business in that region.
Rowen Craigie, CEO of the group, reported that overall revenue for Crown Resorts was A$1.9 billion, with the Australian resorts overall reporting better performance than their Macau equivalents, delivering a 4.2 percent increase in normalised revenue to A$1.7 billion for the half year, with a 9.8 percent increase in main floor gaming revenue, and a 3.8 percent decline in VIP program play turnover.
Craigie revealed that Crown’s Macau operations, Melco Crown Entertainment had incurred a 66.3 decline in NPAT (net profit after tax) at A$37.2 million due to weak market conditions.
“Macau continues to experience a challenging period which has adversely affected all casino operators," Craigie said. "Overall gross gaming revenue across the Macau market in the half year to 31 December 2015 declined 31.1 percent.
“However, MCE has further expanded its market share in Macau and increased its exposure to the more resilient and profitable mass market segments.”
The directors declared a dividend on ordinary shares of 33 cents per share, payable on Apr. 6, 2016.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
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