Type of paper: Report

Topic: Company, Finance, Crown, Information, Strategy, Firm, Business, Resort

Pages: 4

Words: 1100

Published: 2023/04/10

Introduction

There are diverse factors that need to be considered in the field of financial sector or department in any field or jurisdiction. First of all, we should note that financing helps in the determination of the net value of any given firm or country, its position among its competitors, as well as the payment it owes or is owed to and by other firms, states, or individuals. In this article, we shall be looking at the regulatory Guide (RG 247) that provides the ASIC’s interpretation of the s299A that is composed of the Corporation Act of 2001.
Consequently, we shall have a keen look at the Crown Resort Limited at the disclosure they made in their Operating and Financial Review (OFR) in accordance to their operations, strategies, and financial position as well (Caughey, and Whitehead, 2000).

The disclosures made by Crown Resort Limited Company

The Crown Resort Limited Company is a firm that deals with the operations of Casinos as well as gambling gaming based in the Australian republic as well as offering other entertainment facilities too. Also, it has got a tourism based business where it promotes the country’s tourism by letting other persons from different parts of the world visit the casinos and have fun as well. This firm is the largest in the entertainment sector of the Australian jurisdiction as well as being the largest firm to employ most employees in the entertainment section and in the payment of taxes to the government as well. The company, however, collects information from the clients after they have only issued an allowance to do so for variety of purposes that include the following. First of all, the information is meant for the enhancement of the products related to the retail businesses, to improve its position better than that of its competitors, and improve its marketing strategies as well. In addition, the information is used to show evidence for certain transactions, improvement of foods and beverages, improve the entertainment sector, and enhance compliant handling. Therefore, we shall base ourselves with the financial recordings that the company provided as at the end the financial year 2015.
On the operation and the financial review of the company, there are diverse financial statements made by the company based on its operations, business strategies, prospects, and financial position as well. To begin with, we shall have a keen look at the operations done by the company as illustrated in below. The company owns and runs majorly two businesses in the Australia including the Crown Perth Entertainment Complex and the Crown Melbourne Complex. Outside the Australian jurisdiction, the company operates the Crown Aspinall’s based in the London location, Melco Crown Entertainment Limited (MCE) in Macau as well as the City of Dreams, Altira Macau and Mocha Clubs business, a stake of 60% at the Studio City, and 68.80% in the Philippines based Melco Crown resorts Corporation. The company has based itself with the expansion of its operations to the management of an iconic six-star hotel that will include Very Important Person (VIP) gaming at the southern part of Barangaroo located in Sidney. To the existing to the five-star Crown Melbourne, it is seeking the approval of the construction of 400 more special rooms that will accumulate more visitors in the hotel (Sloan et al. 2012).
Moving forward to the strategies of the company, we shall have a keen look at the recent plans that the company has had specifically for the financial year of 2015 as well as the plans specific for a certain resort at a given location. Beginning with the Crown Group based in the Australian jurisdiction, there a number of functions that the company has had over the past financial period. First of them include the fact of continuing the enhancement as well as the growth of its portfolio that comprises well known and premium assets that are branded effectively. Moving on to the second plan, the firm has structured to maximize its value in terms of the internal investments. Thirdly, the company has planned to improve its integrated operations and resorts by leveraging its internal network, operations, as well as the joint ventures. Finally, the Crown Group planned to improve its on-line social gaming over the web through the Crown Wagering even for the better of its growth options. For the businesses based on Melco Crown, the main strategy has been to continue the development of junket and the non-junket relationships, building massive and VIP market facilities, maintain its current leadership, and launch the Macau Studio City effectively. Finally, on the international based Crown businesses, the strategies have been to maximize the performance of Crown Aspinalls, deliver value to stakeholders in Las Vegas by developing the project on that location, and to develop the comprehensive marketing projects.
Finally, on the financial position of the Crown Company, the financial records had been affected slightly by the unhealthy market movement in the Macau based firm. However, the businesses located at Australia such as the Crown Melbourne, the financial record were pretty good as the international VIP record shifting up as per the record of the financial year of 2015. The net profit that has been realized by the company after paying tax included $525.5 million that was a decrease by 17.9% when compared to the record of the financial year of 2014 due to the fact of the poor performance of the Macau firm. The Australian resorts had a record of a growth of 14.1% EBITDA and an increase in the revenue growth by 14.0% in the financial year of 2015. Finally, the Melco Crown’s shares normalized NPAT with a decrease of about $161.30 million to $129.90 million which was a decrease of around 44.6%.

Evaluation of the Crown Resort Limited based on the ASIC guidance

The ASIC guidance has diverse sections as described in the RG 247 that was released in 2013 on 27th, March. In this report, there are different sections that describe several aspects including the overview, preparation of financial and operational review, operations and financial positions, strategies, and the presentation of the financial review in both narrative and analytical manner. However, we shall base ourselves with the evaluation of the company regarding the section B, C, and D only. In the section B, where a business is expected to prepare an effective operational and financial review, there are a number of fact that need to be considered including the information about the whole business, detailed explanation both analytical and in narrative manner, and information needed by the investors. On the third section on the operations and financial review, section C, factors that need to be considered include the statement of the operations, financial position, mandatory statutory requirements, crucial information, and the non-IFRS financial information. Finally on the last section that comprises the information on the strategies and plans for the future, section D, there are some factors that need to be considered including the statutory requirements, explanation of the business strategies, and the prejudice exemption (Munden 2005).
Now, looking at the Crown Resort Limited Company, it has been able to accomplish a number of factors that are included in the three sections that are the section B, C, and D as illustrated in the above topic. In the section one, the company has been able to provide its information in a detailed manner in its financial report of the year 2015. In addition, it has provided detailed information on its entity in accordance to the expectations of the RG 247 guidelines. Secondly, the Crown Resort Limited has been able to provide a clear record of its financial position just as illustrated in the earlier subtopic. It has also provided deep information on the operations that it does both locally and internationally. Lastly under the section D, the firm has been able to provide keen information on the strategies that it has had for all the businesses that it owns both locally and at other locations as well (Barrett 2015). Therefore, we can come a general conclusion that the Crown Resort Company Limited has been able to meet the guidelines provided by the ASIC in not only the three sections B, C, and D, but in the last section E of proper presentation as well.

References

Barrett, S., 2015. INSIGHT to industry's challenges. Springer.
Caughey, B., & Whitehead, D., 2000. Colorado's best: The essential guide to favorite places. Golden, Colo: Fulcrum Pub.
Munden, R., 2005. ASIC and FPGA verification: A guide to component modeling. Amsterdam: Elsevier.
Sloan, P., Legrand, W., Chen, J.C. and Chen, J.S., 2012. Sustainability in the hospitality industry: Principles of sustainable operations. Routledge.
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WePapers. (2023, April, 10) Crown Resort Limited Report. Retrieved April 20, 2024, from https://www.wepapers.com/samples/crown-resort-limited-report/
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Crown Resort Limited Report. Free Essay Examples - WePapers.com. https://www.wepapers.com/samples/crown-resort-limited-report/. Published Apr 10, 2023. Accessed April 20, 2024.
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