SYDNEY Australian casino giant Crown Resorts Ltd (CWN.AX) said on Thursday it is in a "holding pattern" until it learns the fate of 18 staff detained in China, as plunging turnover from Asian high-rollers drove down underlying half-year profit 9.1 percent.
Chinese authorities detained 18 employees of Crown Resorts Ltd., the highest-profile crackdown on a foreign casino operator in a year, raising fears anew that the government is tightening its scrutiny of companies that promote gambling abroad.
Moodys.com (press release) (subscription) - Jun 16, 2016
"The reduction in retained cash flow arising from Crown's increased dividend payout and the cessation of dividends from Melco Crown Entertainment Limited (MCE, unrated) will mean that Crown will have less capacity to contribute to the capital cost of ...
Crown Resorts Ltd., the gambling company controlled by billionaire James Packer, plans to open a casino on the Las Vegas Strip after paying $280 million for a site formerly occupied by the New Frontier casino.
SYDNEY - The Chinese authorities have formally arrested three Australian employees of the casino operator Crown Resorts who had been detained in mid-October in an investigation into the promotion of gambling in China.
Billionaire James Packer is moving quickly to offer part of Crown Resorts Ltd.'s remaining stake in its Macau casino venture to institutional investors, after scrapping plans for a gambling empire spanning the world's largest gaming markets.
Crown Resorts, Australia's No. 1 casino company, said first-half net profit fell by more than a fifth as a Chinese corruption crackdown continued to hammer turnover at its resorts in the Asian gambling hub of Macau. Net profit for the company, 53 ...