"Until this is finally resolved,we are basically stepping back from an aggressive position in their market,"he said on Friday.

"We are going to sit down and figure out the long-term position."

Mr Alexander would not say whether Crown would continue to employ the imprisoned staff once they were freed.

In response to the high-profile legal saga,Crown has pulled back from its ambitions in China in recent months,recalling sales staff andselling its stake in its former joint-venture casino,Melco Resorts and Entertainment,in Macau.​

Until this is finally resolved,we are basically stepping back from an aggressive position in their market.

Chairman John Alexander

​Despite the drop in underlying profit,Crown's top-line profit soared to $1.9 billion for the year,boosted largely by a $1.7 billion gain from its Melco sale. Crown's profits increased 97 per cent after significant items.

The company's financial results come one day after billionaireMr Packer officially rejoined the company's board of directors,focusing on Crown's home turf after he called off ambitious plans for a global expansion.

Mr Alexander told a briefing on Friday that Mr Packer was"very involved in the business".

"This is his primary asset and he is very much engaged,"he said.

Mr Alexander said the large drop-off in revenue from the company's VIP program would not affect its plans for its multibillion-dollar casino in Barangaroo in Sydney,billed as a VIP casino,which is scheduled to be completed in 2021.

He said the casino would cater to both local and international VIP gamblers.

"We think Sydney will be an outstanding property and a great success on many fronts,including the VIP,"he said.

After a sharp rise when Crown first released its results to the market on Friday,its shares later dropped 2.9 per cent,37¢,to $12.40.

Crown shareholder Arnhem Investment Management said the initial share price rise was surprising.

"After I looked at the numbers,I was very surprised to see the market took it up in the morning,"Arnhem partner Theo Maas said.

"Maybe after the conference call the realisation sunk in that these weren't the best numbers."

Mr Maas said investors were left with a"lot of questions"and"limited expectations"for the coming financial year,not only about the poor performance of Crown's VIP program but also about declining revenue from the main casino gaming floors.