Business
Crown Resorts profit slumps 80% on COVID-19 closures – Sydney Morning Herald
Crown Resorts’ net profit has tumbled to $79.5 million after the coronavirus pandemic forced the James Packer-backed casino giant to shut its gaming floors.
“In March 2020, Crown was directed to close its gaming activities and a significant part of its non-gaming operations at Crown Melbourne and Crown Perth for an extended period, with our financial results reflecting the impact of these closures,” he said.
Crown said it was suspending its policy of paying shareholders a 30¢ dividend per share every six months in light of the COVID-19 damage, with no payout announced for the June half.
The previously reliable payment was awarded in the first half…
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