Crown windfall driven by $450m in losses from Victorian pokies players
Anti-gambling advocates say profits demonstrate company’s need to expand technology so that problem gamblers can be turned away
For the first time Crown Resorts has released profits gained from poker machine revenue, revealing gamblers lost $450m on Crown’s 2,682 poker machines in Melbourne and a further $265m on those in Perth in the 2017-18 financial year.
Anti-gambling advocates have been lobbying Crown to release the data to better understand Crown’s contribution to gambling-related harm. The data was released as part of Crown’s full-year results on Thursday, with the company reporting a full-year profit of $558.9m, down 70% on its 2016/17 result. But its profit in 2016/17 was inflated by proceeds from the sale of its Macau business.Continue reading...