Crown Resorts (ASX:CWN) share price rises despite earnings hit

Crown Resorts Ltd (ASX: CWN) shares opened higher today despite the casino operator reporting a significant earnings hit in its FY21 half-year results (1H FY21). Soon after open, the Crown share price quickly lost ground, only to recover again to its current level of $9.80, up 1.14% for the day so far.

Here’s a summary of how Crown has been performing.

Crown share price resilient despite revenue falls

The Crown share price is holding its own today regardless of the company reporting a 62.1% drop in statutory revenue to $581 million for the reporting period. 

Operating cash flow also tumbled from $419.1 million in 1H FY20 to $72.3 million in 1H FY21.

Earnings before interest, tax, depreciation and amortisation (EBITDA) took a…