Crown Limited had its joint venture in Macau to thank as full year net profit showed significant growth for the fiscal year. Net profit for the year to 30 June 2011 was AU$335.6million up 14.9% compared with the previous year. Much of this was down to their stake in Melco Crown Entertainment with the two Macau-based casinos reaping them around $34.9m. CEO Rowen Craigie commented, “Overall, the results for Crown’s wholly-owned Australian casinos, Crown Melbourne and Burswood, were mixed, while our Macau joint venture continues to strengthen its performance. The results from our Macau joint venture, Melco Crown Entertainment, continue to improve and were the major contributor to the growth in NPAT for the Group.”
There it is then: Crown Limited is in love with Macau. Straight from the horse’s mouth!
Macau also received a boost in the form of one of those “state the obvious” surveys that are often seen in the gaming industry. The first Macau Visitor Profile Study came to the conclusion that the enclave’s casinos are the biggest attraction to visitors.
The survey, conducted by the Faculty of Business Administration at the University of Macau, found that 44.5% of respondents said that casinos were the most attractive destination on the enclave. In addition almost half (48.3%) of visitors said that they gambled whilst visiting. That came after most visitors (49.1%) said that sightseeing was the main purpose of their trip with only 16.4% coming to the resort for purely gambling or gaming activities. The survey took in the views of 3,808 visitors.