Crown Perth sees 9% drop in gaming revenue in three months to Oct.

crown perth

Crown Resorts said main floor gaming revenue in the three months to Oct. 17th dropped 9 percent at its Perth casino from the same time last year, when the figures were driven by strong pent-up demand post reopening. 

The revenue is still 6 percent higher than in the same period in the 2019/2020 financial year ending on June 30th, meaning it is above pre-pandemic levels. The figures were given in a trading update accompanying the company’s annual general meeting. They only refer to the Crown Perth casino, as its properties in Melbourne and Sydney have been closed for most of the period. 

Non-gaming revenue was up 34 percent above last year as many restrictions remained in place following the reopening in 2020, including the continued closure of the Crown Promenade Hotel. The figures are up 7 percent on the start of the 2020 financial year. 

Revenue to start this financial year from Crown’s online wagering and social gaming operations, Betfair and DGN, is down 10 percent on last year.

In his address to shareholders, CEO Steve McCann said: “We are continuing to see elevated legal, consulting and other costs associated with the multiple concurrent inquiries and regulatory processes. We now expect corporate costs for the 2022 financial year to come in higher than last year at around $130 million.”

The group also said that its Crown Melbourne property will reopen its non-gaming facilities from Oct. 22 after the state reached 70 percent vaccination rates. It said that gaming is expected to resume from Nov. 5th as long as the rate hits 80 percent. All guests need to be fully vaccinated.

Crown Sydney reopened on Oct. 11th.