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Crown Resorts open to split: CEO

Updated

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Key Points

  • Revenue ($m): 1536.8, down 31pc from year-earlier 2237.2
  • Pre-tax profit ($m): -308.6 v year-earlier 153.2
  • Net profit ($m): -261.6 v year-earlier 79.5
  • Final dividend: nil

New Crown Resorts chief executive Steve McCann has floated the possibility of splitting the casino giant into property and casino operating companies, laying out for the first time his vision for the crisis-stricken casino giant if its licences are stripped or curbed.

Mr McCann said all options were on the table and he wouldn’t rule out future takeover offers and permanent increases to compliance costs, as the group posted a massive loss driven by pandemic-induced lockdowns and the hefty price of overhauling the scandal-plagued group.

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Elouise Fowler is a journalist for The Australian Financial Review based in the Melbourne office. Connect with Elouise on Twitter. Email Elouise at elouise.fowler@afr.com.au

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    Original URL: https://www.afr.com/link/follow-20180101-p58mzj