iGaming Business – Australian entertainment group Crown Resorts has cited the success of its operations in the Chinese gambling resort of Macau as one of the main reasons behind a significant growth in net profit during the 12 months through to June 30, 2014. The company reported net profit of AUS$655.8 million (€457.1 million/US$611.3 million), an increase of 65.7% on the AUS$395.8 million achieved in the previous year. Revenue at Crown Resorts grew to AUS$3.1 billion, a 6.7% rise year-on-year from AUS$2.9 billion. Elsewhere, earnings before interest, tax, depreciation and significant items jumped by 16.7% from AUS$751.9 million last year…

Sri Lanka will not oppose the casino planned for a $400 million mixed-use resort being developed by Australia’s Crown Casinos if it is operated using an existing license held by a local partner, a top government official said on Thursday. The government’s latest stance on casinos is contrary to what it said on April 25 when Australian gambling tycoon James Packer’s Crown project was approved by the country’s parliament. At that time the government said no casino would be allowed in the resort. Opponents of casinos believe they will lead to a boom in prostitution and damage religious values and…

Calvin Ayre – James Packer, boss of Australian casino operator Crown Resorts Ltd., has asked his country’s government to revise their tourist visa policies to make it easier for Chinese high rollers to visit his casinos. Packer told the Herald Sun that it was “hypocritical” for the government to maintain visa requirements that make it harder for wealthy Chinese to enter the country than wealthy Americans. Packer, who believes the rising clout of Chinese consumers will “profoundly aspect every aspect of our economy,” said it was “stupid” that “visa applications are done in English, not Mandarin.” Packer also complained that…

Companies controlled by billionaires James Packer and Cheng Yu-tung have lodged bids to develop casinos in Australia’s Queensland, as the state government plans to lure Asian tourists with new resorts based on the success of Singapore casinos. Packer’s Crown Resorts Ltd. (CWN) and a venture including Cheng’s Chow Tai Fook Enterprises Ltd. are among 12 groups that have filed applications for new casinos in a state which is already home to four, Queensland deputy premier Jeff Seeney said in a statement posted on a government website today. With a shoreline longer than India’s that’s lapped by the Great Barrier Reef,…

iGaming Business – Australian entertainment group Crown Resorts has agreed a one-year extension to its shirt sponsorship deal with the National Rugby League’s Melbourne Storm rugby league team. Crown Resorts has sponsored the club since 2011 and the new deal will extend this relationship through to the end of the 2014 season. Under the deal, Crown Resorts branding will continue to appear in the main sponsorship position on the front of Storm players’ jerseys. “Melbourne Storm is delighted to see the club’s partnership with Crown Resorts enter into its fourth year; it is a strong relationship and they continue to…