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8 months ago
Australian casino giant Crown Resorts downgrades revenue, quits demerger
December 14, 2016 / 11:17 PM / 8 months ago

Australian casino giant Crown Resorts downgrades revenue, quits demerger

SYDNEY, Dec 15 (Reuters) - Australia's biggest casino company Crown Resorts Ltd said first half revenue fell 12 percent due to a reduction in VIP gamblers as it announced plans to raise A$1.6 billion by selling shares in Macau-based company Melco Crown Entertainment Ltd.

Sydney-listed Crown also said in a regulatory filing on Thursday that it was cancelling a planned demerger of its international assets, although it would still spin off some Australian hotel properties. (Reporting by Byron Kaye)

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