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CROWN RESORTS LIMITED (ASX:CWN) - News: Australia's Crown Resorts FY profit falls 16 pct, misses forecast, 26285937, page-1 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum
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Aug 4 (Reuters) - Australian casino giant Crown Resorts (CWN)...

  1. Hot News
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    04/08/17
    09:55
    Post #: 26285937

    Aug 4 (Reuters) - Australian casino giant Crown Resorts (CWN) said on Friday its underlying annual net profit fell by nearly a sixth, missing analyst forecasts, due to decreased demand from high-rolling VIP gamblers across its Australian resorts.

    Normalised net profit before one-off items came in at A$343.1 million ($272.9 million) for the year to June 30, down from A$406.2 million a year ago and below the A$369.1 million average forecast of 10 analysts polled by Thomson Reuters I/B/E/S.

    "Normalised" net profit is a measure used by casino companies to strip out irregularities in win rates. ($1 = 1.2571 Australian dollars)

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