Accelerated Recovery in Crown’s VIP Turnover Drives a 4% Increase in our FVE
Crown Resorts started fiscal 2018 on a positive note. Normalised fiscal 2018 interim NPAT was AUD 192 million, flat on the previous corresponding period; however, the pcp included a AUD 42 million profit contribution from Melco Resorts, which has since been divested. After removing Melco from the prior year’s performance, underlying net profit rose by an impressive 29%. At the divisional level, the performance was extremely varied, with key highlights being: a faster than expected recovery in VI...
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