James Packer warns Crown Resorts to lift its Australian casinos game
Billionaire James Packer has warned shareholders in Crown Resorts that profits may fall in the 2016 financial year as a slowdown from its Macau casinos and a hefty increase in spending on new resorts piles pressure on its balance sheet.
Mr Packer, who owns 50 per cent of Crown, laid down a challenge to management to reverse its poor returns from its Australian operations. He said the group's overall net profit is under the spotlight, given it can no longer rely on booming returns from Macau to bail the company out.
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