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BRIEF-Crown Resorts Says Committed To Working With ILGA To Advance Reforms Necessary

Published 18/02/2021, 11:35 am
© Reuters.
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Feb 18 (Reuters) - Crown Resorts Ltd CWN.AX :

* COMMITTED TO WORKING WITH ILGA TO ADVANCE REFORMS NECESSARY TO ALLOW IT TO GIVE EFFECT TO RESTRICTED GAMING LICENCE IN SYDNEY

* EXECUTIVE CHAIRMAN SAYS DOES NOT SEE HERSELF AS EXECUTIVE CHAIRMAN FOR AN EXTENDED TENURE

* ALSO CONTINUES TO WORK COOPERATIVELY WITH VICTORIAN AND WA REGULATORS

* ALREADY COMMENCED A GLOBAL SEARCH FOR A NEW CEO

* EXPECTS TO INCUR A SIMILAR LEVEL OF CORPORATE COSTS IN SECOND HALF

* CROWN RESORTS SEES NET PROJECT COST FOR CROWN SYDNEY OF ABOUT $1.1 BILLION DUE TO HIGHER EXPECTED APARTMENT SALE PROCEEDS

* GOOD PROGRESS MADE IN CROWN SYDNEY APARTMENT SALES, WITH OVER $870 MILLION IN GROSS SALES AND PRE-SALE COMMITMENTS ACHIEVED TO DATE

* FOR PERIOD 1 JAN TO 12 FEB, CROWN MELBOURNE'S MAIN FLOOR GAMING REVENUE (EXCLUDING VIP PROGRAM PLAY REVENUE) DOWN ABOUT 26%

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