High-Stakes Gamblers Help Crown Resorts, Star Jump
- Packer’s Crown reports 55% increase in full-year VIP turnover
- Crown rises as much as 5.6%; Star climbs as much as 6.5%
Crown Towers hotel, part of the Crown Melbourne casino and entertainment complex, left, in Melbourne, Australia.
Photographer: Mark Dadswell/BloombergThis article is for subscribers only.
Crown Resorts Ltd. and Star Entertainment Group Ltd. jumped in Sydney trading after Crown reported a surge in turnover by high-stakes gamblers.
Crown, the casino operator backed by billionaire James Packer, reported a 55 percent increase in VIP turnover for the year ended June 30. Crown’s revenue and profit also beat analyst estimates.