Massive job cuts last year helped Crown Resorts report a profit for the 2025 financial year, and the casino operator has highlighted plans to boost its food and entertainment offerings to entice customers as the gambling side of its business continues to struggle.
Crown reported a net profit of $142 million, compared to a $164.8 million loss for the prior year, with asset sales helping to lift the result. It was also aided by Crown slashing 1000 jobs last year.
Crown Resorts’ flagship Melbourne casino.Credit: Bloomberg
Revenue also rose slightly to $2.83 billion. Crown’s Perth and Sydney casinos offset a decline at its flagship Melbourne casino which has been affected by carded play restrictions on its poker machines that do not apply to pubs and clubs.
Crown chief executive David Tsai highlighted that the regulatory issues were finally behind the casino operator which is back in control of its three casinos after inquiries found it unfit to hold its licences in Melbourne, Perth and Sydney.
The company paid the final instalment of its $450 million Austrac fine in July.“Crown Resorts is entering a new chapter – marked by improved financial performance, operational stability and a renewed focus on growth,” Tsai said.
“While the company continues to navigate a complex regulatory landscape and economic headwinds, these results demonstrate we’re heading in the right direction.”
Crown confirmed that its Melbourne golf course, Capital Club, is for sale and a transaction is expected to be finalised this year.
Crown also confirmed it had sold the last of its Barangaroo apartments in Sydney, and these transactions were expected to settle during the current financial year.
Crown’s performance has struggled to justify the $8.9 billion that US investment group Blackstone paid for it in 2022, delivering billionaire James Packer a $3.36 billion payday for his 37 per cent stake in the company.
