• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Casino cash tech provider Crane 1Q net income up 73pct

May 04, 2021 Newsdesk Industry Talk, Latest News  


Casino cash tech provider Crane 1Q net income up 73pct

Net income at Crane Co, a provider of products and services to sectors including cash handling in the casino industry, rose 72.6 percent year-on-year in the first quarter, on net sales that increased 4.5 percent for the period.

Such net income was US$108.4 million versus US$62.8 million in the first three months of 2020. Net income per share for the first quarter this year was US$1.84, versus US$1.05 per share a year earlier.

First-quarter net sales amounted to US$833.5 million, compared to US$797.9 million a year earlier.

First-quarter 2021 operating profit was US$146.4 million, compared to US$88.6 million in the first quarter of 2020. Operating profit margin was 17.6 percent, compared to 11.1 percent last year, with the improvement “driven primarily by benefits of 2020 cost actions, productivity, and continued strong performance at Crane Currency,” said the firm.

In payment and merchandising technologies, including services for casino operators, Crane saw first-quarter net sales rise 13.5 percent year-on-year, to US$337.5 million, from US$297.4 million. Operating profit in the segment increased approximately 225.4 percent from a year earlier, to US$85.9 million.

Max Mitchell, the group’s president and chief operating officer, noted in prepared remarks issued with the results on Monday: “We delivered exceptionally strong results in the first quarter,” across “three global strategic growth platforms”.

The group is involved in payment and merchandising technologies; aerospace and electronics; and engineered materials and fluid handling services.

Mr Mitchell was cited as saying: “Across all of our businesses and end markets, while uncertainty still exists, we continue to see strengthening underlying trends.”

Crane Co also confirmed that it would maintain its regular quarterly dividend for the second quarter of this year.

It will amount to US$0.43 per share, and is payable on June 9 to shareholders of record as of the close of business on May 28.


  • tweet
Related articles
  • MGM China back to positive adjusted EBITDA in 1Q
    MGM China back to positive adjusted...

    May 02, 2023  

  • Vietnam 1Q foreigner arrivals a third of entire 2023 target
    Vietnam 1Q foreigner arrivals a third...

    Mar 30, 2023  

More news
  • Strong Macau hotel bookings for autumn Golden Week
    Strong Macau hotel bookings for autumn...

    Sep 22, 2023  

  • Big players, tourists due for Golden Week say Macau experts
    Big players, tourists due for Golden...

    Sep 22, 2023  


Latest News

Strong Macau hotel bookings for autumn Golden Week

Strong Macau hotel bookings for autumn Golden Week

Sep 22, 2023  

A number of hotel properties at Macau casino resorts has already sold all or most of the rooms that are available on the open market, for most nights of the upcoming autumn Golden Week holiday...
Read More
Big players, tourists due for Golden Week say Macau experts

Big players, tourists due for Golden Week say Macau experts

Sep 22, 2023  

Philippines must up AML to exit FATF grey list says lawmaker

Philippines must up AML to exit FATF grey list says

Sep 22, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”This year, so far, we will be starting [revamp] work at Grand Hyatt; then, we are looking at Countdown, and afterwards we will look at Altira and others”

Lawrence Ho

Chairman and chief executive of Melco Resorts



Most Popular

  • Golden Week Macau GGR to be 17pct up on rest of Oct: MSGolden Week Macau GGR to be 17pct up on rest of Oct: MS September 21, 2023
  • Grand Hyatt MICE revamp before year end: Melco CEOGrand Hyatt MICE revamp before year end: Melco CEO September 21, 2023
  • Melco to help Macau govt revitalise some Inner Harbour piersMelco to help Macau govt revitalise some Inner Harbour piers September 21, 2023
  • Strong Macau hotel bookings for autumn Golden WeekStrong Macau hotel bookings for autumn Golden Week September 22, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us