Casino
December 13, 2022
Crown Perth CEO Tsai Steps into the Office
In October, Australian casino giant Crown Resorts named David Tsai as the new chief executive officer of its property in Burswood, Crown Perth. Yesterday, Tsai officially stepped into the office and released a statement on his plans for the casino. Tsai Steps into the Office Tsai was formally welcomed to the company with a traditional […]
Casino
November 30, 2022
Crown Resorts Reported $633M Loss, Expecting $413M in Fines
The business has a huge potential for recovery, as long as some key factors that bring it down are resolved. These are putting in place internal changes that address and resolve all of the company’s regulatory failings, as well as a sustained improvement in operational conditions. If these requirements are met, the company’s outlook is […]
Business
November 23, 2022
Crown Resorts Unveils Transformational Multi-Year Program
The leading owner and operator of integrated resorts in Australia, Crown Resorts, announced the launch of a new transformative program for the future of the business. Crown Reveals New Program Called Future Crown Earlier this week, the company announced Future Crown, a multi-year program that seeks to transform the business while at the same time […]
Casino
November 7, 2022
Crown Resorts Suffers $77M Penalty in Melbourne
The Australian gambling market is a bit of a hot mess right now. Crown Resorts has been struggling with regulatory action across several states and so has The Star Entertainment Group which was served with two show-cause notices in Queensland last week. To add insult to injury, now Crown Melbourne has been hit with a […]
Casino
October 12, 2022
Crown Perth to Get Independent Auditor as It Seeks Recovery
The Western Australia state government has announced that it is appointing Paul Steel, the WA police force assistant commissioner, as the decision-maker for Crown Resorts. Essentially, Steel will assume the role of a special independent monitor and will oversee whether Crown Resorts has made the necessary changes to its corporate culture and gaming operations to […]
Sports
September 5, 2022
AFL Great Wayne Carey Banned from Crown for Two Years
Wayne Carey, an AFL great and commentator for Seven and writer for The Age, was at the center of an unwanted incident at Crown Perth and was issued with a “withdrawal of license” according to the report in The Herald. Anti-Inflammatory White Powder Substance Not Looking Good The ban on visiting Crown properties for two […]
Casino
August 26, 2022
Crown Sidney CEO to Resign, Blackstone Will Appoint a Replacement Soon
Crown Sidney has confirmed that its CEO, Simon McGrath, will depart the company amid the Blackstone takeover. Australian media outlets report that his resignation will be effective in September and the Australian Financial Review reported that Blackstone will announce his replacement soon. The Next CEO is Likely to Come from Macau Australian Financial Review also […]
Casino
August 3, 2022
NSW New Regulatory Body Now Can Fine Casinos up to AU$100M
The new body will be named the NSW Independent Casino Commission and is expected to be much stricter in its regulatory actions and should be able to uphold all the new reforms in gambling regulation as it is itself a part of them. New Regulatory Body Ups the Ante Amid Upcoming Reforms New South Wales’ […]
Business
July 8, 2022
Moody’s Withdraws Crown Resorts Rating over Blackstone Acquisition
Credit rating agency Moody’s Investors Service has stripped Australia-based Crown Resorts Limited from its Ba3 corporate family rating (CFR), following a similar move from credit rating agency Fitch, which a few days ago also downgraded the company’s credit rating. Downgrade Resulting from Blackstone Acquisition The recent changes announced by the two major credit rating agencies […]
Casino
July 7, 2022
Crown Melbourne Makes Positive Changes, Claims Report
It was last autumn when Ray Finkelstein launched a probe into Crown Melbourne’s operations. The Royal Commissioner unveiled a massive scheme involving card transfers via China UnionPay that enabled high-rollers from China to skip currency restrictions. Following Finkelstein’s report, the operator was given two years to implement changes and ensure its compliance with the local […]