Hotels, Restaurants and Leisure
Company Overview of Crown Melbourne Ltd.
Key Executives for Crown Melbourne Ltd.
Director and Executive Chairman of Crown Limited
Compensation as of Fiscal Year 2013.
Crown Melbourne Ltd. Key Developments
Crown Melbourne Ltd. Announces Earnings Results for the Six Months Ended December 31, 2013
Feb 20 14
Crown Melbourne Ltd. announced earnings results for the six months ended December 31, 2013. For the six months, the company reported normalized EBITDA of AUD 278.5 million against AUD 291.88 million a year ago, down 4.6%. Reported EBITDA for the period was AUD 320.3 million, up 17.9% on the prior comparable period. This reflects a win rate of 1.63% which is above the theoretical win rate of 1.35% and generated a positive EBITDA variance of AUD 41.8 million. This compares to a win rate in the prior comparable period of 1.23% which resulted in a negative EBITDA variance of AUD 20.3 million. Normalized revenue was AUD 950.2 million against AUD 1,048.24 million a year ago, down 9.4%. Earnings before interest and tax (EBIT) were AUD 188.3 million against AUD 202.89 million a year ago. Profit after tax was AUD 188.3 million against AUD 202.89 million a year ago. Total revenue (actual) was AUD 996.2 million.
Crown Melbourne Ltd. Announces Earnings Results for the Full Year Ended June 30, 2012
Aug 10 12
Crown Melbourne Ltd. announced earnings results for the full year ended June 30, 2012. Normalised EBITDA was $510.6 million, up 1.0% on the prior comparable period. Reported EBITDA for the period was $564.2 million, up 10.4% or $53.1 million on the prior comparable period. This reflects an above theoretical win rate of 1.50% which generated a positive EBITDA variance of $53.6 million, compared to a positive EBITDA variance of $5.4 million in the prior comparable period when the win rate was 1.37%. Normalised revenue increased by 7.6% over the prior comparable period to $1,845.0 million. The overall operating margin decreased from 29.5% to 27.7%. The margin decrease was principally due to an increase in costs associated with VIP program play, a change in revenue mix as a result of the higher growth in VIP program play, an increase in the gaming machine tax rate, the effects of refurbishment disruption and higher fixed costs associated with the expanded footprint of the property in advance of the full benefits of the upgrade being realised. EBIT was $342.1 million. Total revenue (actual) was $1,897.6 million.
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