Crown documents pandemic impacts in fiscal year update

Crown

Crown Resorts has provided an early look at the group’s performance for the fiscal year ending June 30, 2021. It “significantly fell” due to the COVID-19 pandemic.

The company’s properties were nonoperational for various periods of time, with restrictions such as capacity limits in effect.

Crown expects theoretical EBITDA before closure costs and significant items of between A$240m and A$250m for the fiscal year. It expects theoretical EBITDA after closure costs but before significant items of between A$90m and A$100m.

Crown has provided an outlook for the 2022 fiscal year. Crown says will it continue to fall due to COVID-19 related closures and operating restrictions, as well as travel restrictions, including ongoing international border closures, ahead of the publication of its finalized figures on August 30, 2021.

The company also expects increased corporate costs, such as legal, consulting, and other related expenses, as a result of ongoing regulatory processes, which it says may have an impact on its financial performance.

 

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Nassima Azmzm

Nassima Azmzm

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