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 […]
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 […]
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 […]
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 […]