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Australia's Crown profit falls 41.3 pct on Macau downturn

Published 13/08/2015, 10:06 am
© Reuters.  Australia's Crown profit falls 41.3 pct on Macau downturn
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SYDNEY, Aug 13 (Reuters) - Australian casino operator Crown Resorts Ltd CWN.AX reported a 41.3 percent fall in full-year net profit on Thursday, dragged down by a weak result from its Macau business following a Chinese crackdown on corruption.

Crown said net profit for the year ended June 30 was A$385.07 million ($284.10 million), compared with A$655.76 million a year ago. Profit from Crown's one-third stake in Macau-focused Melco Crown Entertainment MPEL.O slumped 44.6 percent.

Crown Chairman James Packer said he was stepping down to a director position on the board but would remain co-chairman of Melco Crown.

($1 = 1.3554 Australian dollars) (Reporting Jane Wardell; Editing by Stephen Coates)

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