SYDNEY, Aug 17 (Reuters) - Crown Resorts Ltd (CWN), Australia's No. 1 casino company, posted a 22.7 percent decline in full-year net profit due to subdued turnover at its resorts in the Asian gambling hub of Macau while Australian operations reported small gains.
Normalised net profit for the company, 53 percent owned by billionaire James Packer, was A$406.2 million ($312.57 million) for the 12 months to June 30, from A$525.5 million a year ago and slightly below average analysts' forecast of A$404.71.
"Normalised" net profit is a measure used by casino companies to strip out irregularities in win rates. Actual net profit jumped 146.4 percent led by gains from the sale of shares in Macau venture Melco Crown. ($1 = 1.2995 Australian dollars)
