Casino
February 18, 2022
Crown Resorts Turns a Corner, Doubles Down on Recovery
Crown Resorts has faced some of its most challenging years of operations, with the company buffeted by regulatory headwinds, lack of travelers and players, and stringent COVID-19 restrictions that kept many properties on shutdown or running skeletal services. To Crown Resorts managing director and CEO Steve McCann, the worst may now be over with the […]
Industry
February 14, 2022
Blackstone to Acquire Crown Resorts for $6.5 Billion
Crown Resorts announced that it entered into an implementation deed under which its shares will be acquired by Blackstone Inc. for AU$13.10 per share. Blackstone, Crown Resorts Enter Into Implementation Deed Crown Resorts, one of Australia’s largest entertainment groups and a leading casino operator, announced on Monday that it entered into an implementation deed with […]
Legal
February 3, 2022
Crown’s Former Boss Felstead Rejects WA Royal Commission Findings
Barry Felstead, a former chief executive officer of Crown Resorts, rejected intermediary findings of the Perth Casino Royal Commission that, according to his barrister, could lead to prosecution, The Sydney Morning Herald reported. Rejecting Findings Leading to Prosecution The former boss of Crown Resorts from 2013-2020 Barry Felstead, via his barrister Joanne Shepard, addressed the […]
Industry
February 1, 2022
Western Australia’s Gaming Regulator Admits Mistakes in Crown Oversight
The gaming regulator in Western Australia (WA) has admitted that it did not properly manage conflicts of interest related to Crown Perth’s operations. The admission comes as a royal commission investigates whether poor government oversight led to problems such as money laundering and problem gambling at the casino. This revelation will give Crown Resorts ammunition […]
Casino
January 17, 2022
Crown Resorts Appoints Anne Ward as a Non-Executive Director
Australia’s largest casino and hospitality company, Crown Resorts, has added a new name to its leadership team. Anne Ward will be joining the operator, stepping into the shoes of a non-executive director. Ward Joins Crown Resorts Ward came to power as a director on January 13. It was confirmed that she had passed all approvals […]
Business
January 13, 2022
Crown Resorts Warming Up to Blackstone Takeover Offer
Crown Resorts could be closer to having a new owner. After Blackstone improved its previous offer to purchase the Australian casino operator, Crown Resorts has agreed to join takeover negotiations with the US-based investment firm. Blackstone is ready to put US$6.46 billion up for the purchase. Crown Close to Changing Hands Blackstone’s latest bid came […]
Legal
December 23, 2021
VCGL Issues $720,000 Fine to Crown for Working with Junket Operators
Crown Resorts Melbourne is again in the center of a new regulatory action against the company. After facing a possible license suspension in July, the Victorian Commission for Gambling and Liquor Regulation stated on Thursday that it issued a $720,000 (AU$1 million) fine after the operator failed to comply with junket rules. This is the […]
Business
December 13, 2021
Crown Resorts Ready for Gambling at Crown Sydney as Asset Sale Pondered
Crown Resorts believes it has shown enough remorse to put it back on regulators’ good side in New South Wales (NSW). It announced that it plans to open gaming operations at Crown Sydney by early 2022. Crown Looks to Return to Action Crown provided an operational update today as part of an investor presentation at […]
Casino
December 2, 2021
Crown Resorts Opens Books to Blackstone, Expects Improved Bid
Crown Resorts may be in trouble but it is not selling on the cheap – that was the message sent by the Australian land-based casino company to Blackstone Group and all other potential suitors on Thursday. Bid Does Not Reflect Crown’s Value Crown Resorts reacted to the latest offer by Blackstone in which the private […]
Casino
December 1, 2021
Crown Resorts Appoints Ziggy Switkowski to Mitigate Post-Inquiry Harm
Australian gaming and entertainment company Crown Resorts has announced that Dr Zygmunt Edward “Ziggy” Switkowski, member of the Order of Australia (AO), has been approved by the local gambling regulatory body and will assume the position of the Crown Resorts chairman. Switkowski Approved as Crown Resorts Chairman The new chairman is an experienced and recognized individual who has held […]