SYDNEY: Australia’s biggest casino operator, Crown Resorts Ltd, said its annual profit rose 12.7%, beating expectations and sending its shares to a three-year high, as resurgent demand from high-stakes gamblers boosted turnover.
Normalised net profit, which is adjusted to remove extraneous items, for the year ending June 30 rose to A$386.8mil (US$287.4mil) from A$343.1mil a year earlier, the company said yesterday. The figure came above the A$366.3mil estimated by a poll of nine analysts, according to Thomson Reuters data.