Business
James Packer misses out on eight-figure payday as Crown scraps dividend – The New Daily
Crown Resorts is relying on small-time punters to climb out of the coronavirus hole after lockdowns cut annual profits by more than $400 million.
Crown Resorts is relying on small-time punters to climb out of the coronavirus hole after lockdowns and travel bans slashed annual profits by more than $400 million.
Crown told shareholders on Wednesday that its annual profit over the 2019-20 financial year fell 80.2 per cent to $79.5 million.
Given the uncertainty around reopening Crown Melbourne, the group also revealed it would axe its final-year dividend of 30 cents a share meaning major shareholder James Packer will miss out on a $75 mill…
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