Crown Casinos Yearly Financials
Crown Casino Resorts will release their yearly financials within the week. Experts have predicted that Crown Melbourne will show sixteen percent growth where the Crown Perth will release earnings around six percent. Previously, the casinos were returning eleven percent of their profit from foreign players, to taxes. It is to be noted that Western Australia recently reduced that tax to eight percent, so much of the gains at Crown Perth can be attributed to that fortuitous modification.
The Melbourne Crown with an estimated earnings well into the six-hundred-million, can attribute their growth to Chinese tourists and an increase in local player gaming. The Crown Perth, while not showing as much growth as the other Crown properties still plays a very important role in the corporate structure of the Packer empire.
One area in which Crown casinos are seeing poor results are in the Melco Crown Entertainment side of the business. This has shown a decrease somewhere in the arena of twenty-four percent. This side of the operation is located in Macau, a gambling centre of the world.
Additional info will also be released this week regarding the development of the Perth Crown Towers. This hotel is slated for completion around December 2016.
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The largest casino found in Australia, the Crown Melbourne has three hotels, great shopping and restaurants. The Brown Promenade, Metropol and Crown Towers are the three hotels. Along with over sixteen hundred rooms, there are also large entertainment facilities which include the Palladium Ballroom and the Melbourne Showroom. CrownMelbourne.com.au for more info.
Australian Businessman James Packer
The Guardian recently reported that James Packer purchased thirty-seven percent share in the South Sydney Rabbitohs. The sports club is also owned by Russell Crowe. With an NRL championship, South Sydney is already one of the most respected and known Rugby teams in NSW. While many feel that this will just be an advertising outlet for the Crown side of things, it should be noted that Packer has a very sincere connection to the team in that his father had a long history with Souths.