Business
November 19, 2021
Blackstone Makes a Second Pass to Purchase Crown Resorts
The Blackstone Group, an American private equity firm, has made a new bid to purchase all shares in Australia’s Crown Resorts. Crown issued a statement early Friday stating that Crown’s latest bid was valued at AU$8.5 billion ($6.2 billion), and Blackstone offered AU$12.50 per share – in cash – in a scheme of arrangement. Blackstone […]
Casino
November 15, 2021
Report Probes Crown Perth’s “Speak Up” Company Culture
Trouble for Crown Casinos seems to be never-ending. Now, a new report has highlighted concerns about Crown Perth’s treatment of staff members and company culture, with people close to the matter alleging that the casino creates an environment where not every voice is heard. ABC News cited an expert report by the Perth Casino Royal […]
Business
November 2, 2021
James Packer Admits His Absence May Have Led to Crown Resort’s Issues
James Packer, the founder and former chairman of Crown Resorts, admitted that during the time he ran the company, there were many oversights which were the result of not complying in part or fully with the requirements which came as a result of missing board meetings for four years. Officials became aware last Friday of […]
Business
October 29, 2021
Crown Reaches $94.3 Million Settlement on Class-Action Suit From 2017
Crown Resorts finally reached an agreement concerning the shareholder class-action that dates back to December 4, 2017, when it was commenced in Australia’s Federal Court. The case was referenced as “Zantran Pty Limited v Crown Resorts Limited, Federal Court Proceeding VID 1317/2017,” and the total settlement, interests and costs included, is $94.3 million (AU$125 million). […]
Business
October 26, 2021
Crown Resorts Learns its Fate in Victoria after Loss in New South Wales
Crown Resorts continues to be in the hot seat in Australia, accused of egregious violations of existing financial and gambling regulations. It has already seen its casino license in New South Wales (NSW) suspended by regulators following an extensive investigation, and has faced similar scrutiny in Victoria and Western Australia (WA). While WA has requested […]
Business
October 21, 2021
Crown Resorts Shareholders Reject Exec Bonus Deal, but Board Remains in Place
Certain Crown Resorts executives aren’t feeling a lot of love from company shareholders. The embattled casino operator, once Australia’s gambling darling, is on the verge of losing it all in the country and shareholders expect the company’s leaders to feel the sting. A vote today could have authorized millions of dollars in bonus cash, but […]
Casino
October 18, 2021
Crown Melbourne to Host A Training Program for 1,000 Hospitality Workers
Australia-based casino and resort Crown Melbourne will be putting efforts in refilling the human resources in Victoria’s hospitality industry. The resort will solve the manpower shortage by training as many as 1,000 new hospitality workers. Crown Melbourne’s Training Program This move is set to jumpstart the local industry once again as it has suffered a […]
Business
September 16, 2021
Crown Resorts’ Former Boss Looking to Sell Luxury Superyacht
James Packer, once the king behind Crown Resorts in Australia, has fallen down a few notches over the years. Apart from having to step away from the casino operator for health issues, he has had to watch as the company is continually raked over the coals for what could only be described as sub-par compliance […]
Casino
September 15, 2021
Crown Resorts Launches Mandatory Vaccination Policy for Guests and Staff
Responding to an increase in the COVID-19 cases in Australia, Crown Resorts is now requesting proof of vaccination from patrons prior to admission. Crown CEO Steve McCann confirmed the requirement for News Ltd., a local media outlet, and said that the policy is now in effect for the company’s facilities in Sydney, Perth, and Melbourne. Patrons and Staff Must Get the Jab […]
Business
September 6, 2021
Crown Resorts Not Opposed to Leasing Properties If License Pulled
Crown Resorts is waiting to learn its fate in Victoria and Western Australia, as authorities in both Australian states consider what actions to take for the company’s history of improprieties. New South Wales (NSW) has already suspended Crown’s license and, if similar decisions are made in the rest of the country, the operator would have […]