Day: 21 August 2019

Crown Resorts Unveils Profit Decline amid Struggling VIP and Online Gambling Businesses and Regulatory Inquiries

Wed 21 Aug 2019 11.59 Olivia Cole
Crown Resorts Unveils Profit Decline amid Struggling VIP and Online Gambling Businesses and Regulatory Inquiries

The largest casino company in Australia, Crown Resorts, has revealed a significant full-year profit decline at a time when affluent foreign gamblers, including high-roller players from China, have been backing away from the company by spending less money on the table. The Australian gambling operator revealed that its net profit for the entire year was estimated at AU$401.8 million, while the revenue which foreign high-rollers generated experiences a massive decline of 26.1% to AU$38 billion. The results show that the VIP gambling business of the company continued to shrink, at…

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No-Deal Brexit Could Cause Turmoil in Gibraltar’s Gambling Sector, Government Says

Wed 21 Aug 2019 10.11 Daniel Williams
No-Deal Brexit Could Cause Turmoil in Gibraltar’s Gambling Sector, Government Says

Recent reports of upcoming no-deal Brexit have caused quite a turmoil not only in the UK but across its Overseas Territories. Reportedly, the Government of Gibraltar has been very troubled with the prospects of a no-deal Brexit, which the Chief Minister has already regarded to as the “worst-case scenario”. The political and economic complications that would follow from Great Britain’s exit from the European Union (EU) without a deal, called “Operation Yellowhammer”, have been what the Gibraltar Government fears the most. According to authorities, such a move would have a…

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