James Packer, chairman of casino owner Crown, says proposed poker machine reforms will not tackle problem gambling.
At Crown's annual general meeting in Melbourne on Thursday, the company announced that net profit after tax was $340m, up 18 per cent on the previous year.
On pokies reform, Mr Packer said mandatory pre-commitments for high-intensity poker machines was not the right solution to problem gambling.
"We don't have an issue with the Federal Government taking action against problem gambling, but it must be the right solution," he said.
"In my view, there is no evidence that introducing mandatory pre-commitment or introducing a one dollar maximum bet will be effective in tackling problem gambling, but it will hurt recreational players, and that will cost jobs and investment across the industry and cost the state government tax revenue used for essential community services.
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"Its not enough to identify the right problem, we need the right solution."
Crown, which owns the Crown Casino in Melbourne and Burswood Casino in Perth, is concerned about problem gambling and always has been, Mr Packer said.
"I believe no one in this country, or, in fact, in the world-wide casino industry, has done more to address problem gambling," he said.
Crown said revenue at Crown Melbourne and Burswood in the first 16 weeks of the financial year was up 3.5 per cent on the previous corresponding period.
Main foor gaming revenue was up 5.6 per cent to $1.34 billion at Crown and Burswood, the company reported.
2007 data showed that poker machines made up 73 per cent of gambling turnover in the country, with eleven per cent coming from Casinos, according to smh.com.au.
