The profits of gambling giant Crown Resorts slumped 80 per cent after an "extremely challenging year".
Crown Resorts operates casinos in Melbourne, Perth and London, with Sydney's much touted casino set to open in December.
Figures announced to the ASX this morning showed that revenue was down almost 26 per cent across its Australian operations to $2.2 billion.
Main floor gaming revenue was down 27 per cent to $1.2 billion and VIP play turnover collapsed 47 per cent to $20 billion.
The figures showed net profits slumped 80 per cent this year to $79.5 million.
The multi-billion-dollar casino in Sydney's almost complete One Barangaroo tower was approved in 2016 on the basis it would largely rely on VIP gamblers.
It is expected to employ up to 2,000 people once open.
While the resort is on track to open in December, owners and tenants of the residential portion of the tower will not be allowed to move in until March.
Crown Chief Executive Ken Barton said this year's figures came after unprecedented shutdowns.
"From late January 2020, Crown began to experience softer trading conditions as a result of travel restrictions and general community uncertainty in response to COVID-19, particularly impacting visitation to Crown Melbourne," he said.
"In March 2020, Crown was directed to close its gaming activities and a significant part of its non-gaming operations at Crown Melbourne and Crown Perth for an extended period, with our financial results reflecting the impact of these closures.
"These closures have also had a substantial impact on our people."
He said about 95 per cent of employees had since been stood down but had accessed $68 million in JobKeeper payments.
"In addition, Crown has established a Hardship Fund to provide additional, targeted financial assistance to employees experiencing serious financial hardship as a result of COVID-19," he said.
"This program is in addition to the many other programs Crown has established to support employees during this unprecedented time."
While Crown Perth has recommenced operations, Crown Melbourne remains closed.
Last year, Crown reported its VIP gambling revenue had dropped 26 per cent.
