Crown Resorts has recorded a loss of just under a $1 billion for the last financial year as the combination of financial penalties, extensive investment in compliance and COVID-19 restrictions outweighed the group's profits
The casino giant, owned by US investment management powerhouse Blackstone, lodged a net loss of $945.4 million for fiscal 2022 with ASIC on Tuesday.
Crown's earnings before interest, tax, depreciation and amortisation (EBITDA) - the metric heavily watched by investors - fell toa loss of $ 699.6 million, with $710.1 million in significant items. Statutory revenue for the period landed at $1.9 billion, up 20 per cent on the prior comparable period.
Revenues at Crown Melbourne increased from $567.5 million to $923.8 million and grew from $68.4 million to $113 milliion at Crown Sydney, while Crown Perth fell from $740.9 million to $731.7 million. Crown Sydney's gaming floor was not operational during 2022.
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