Business
July 8, 2021
Crown Resorts Boss Shows Long-Time Dissention in the Ranks
The truth always comes out and Crown Resorts is learning the lesson the hard way. The Australian casino operator, once at the top of the hospitality charts in the country, has slid from grace due to a number of issues that have plagued it over the past several years. It has been accused of tampering […]
Industry
July 6, 2021
Crown Resorts May Face Difficulties This Year, Next Year, Too
In light of the impact of the COVID-19 pandemic, Crown Resorts released a trading and earnings update. The company revealed that it may report an operating loss for 2021, while a further negative financial impact may be observed next year, as well. Crown Resorts May Report Operating Loss for 2021 Fiscal Year Australia-based entertainment company […]
Industry
June 25, 2021
Australia’s Gaming Industry Likely to Undergo Monumental Changes
If any good is coming out of the debacle surrounding Crown Resorts in Australia, it’s that the country’s gaming regulations are likely to be tweaked. Fitch Ratings has weighed in on what is happening in Australia with Crown and Star Entertainment, as well as the gaming industry, in general, and believes that the screws are […]
Casino
June 22, 2021
Star, Crown Resorts Meet over Potential Merger
As Crown Resorts continues to fend off an assault on its reputation and viability as a casino operator, a number of companies haven’t wasted time approaching it to offer potential buyout deals. Oaktree Capital Group and the Blackstone Group were seen as the largest contenders, especially because of their deep pockets, but then Australia’s own […]
Business
June 15, 2021
Oaktree’s Structured Facility Bid to Crown Upped to AU$3.1B
Oaktree, a private equity firm based in the US, revised its initial offer to Crown Resorts related to the purchase of shares held by Consolidated Press Holdings (CPH), the troubled casino operator announced in a filing to the Australian Securities Exchange (ASX) Tuesday. CPH Stake Buy Back In April, the investment fund offered a funding […]
Legal
June 7, 2021
Crown Resorts Isn’t Only Australian Casino Operator to Act Irresponsibly, Asserts AUSTRAC
The level of drama surrounding Crown Resorts is enough to make soap opera writers envious, but it now appears that the casino operator’s actions may have only been part of a larger, more widespread issue. Crown has been under investigation by regulators across Australia for money laundering, machine tampering, and much more as its ability […]
Casino
June 4, 2021
Victoria Royal Commission Inquiry Reveals New Crown Failings
Troubles do not seem to end for Australian casino operator Crown Resorts as Victoria royal commission’s inquiry into its sole license was presented with disturbing facts about the casino’s practices related to its responsible gambling obligations. Long Hours Play Practice The Wednesday hearing at the commission led by former Federal Court judge Ray Finkelstein, QC […]
Casino
May 27, 2021
Crown Resorts Melbourne Closes for a Week from Today
Crown Resorts, an Australian casino operator, has announced that its Melbourne property will close until June 3, in line with the newly announced coronavirus restrictions in Victoria. Victoria Government Closes All Non-essential Retail The Crown Resorts, an Australian casino operator, has announced it will close down its Melbourne facility until June 3 due to the […]
Casino
May 26, 2021
Crown Resorts Brass Prove to Be Adept at Creating Smoke Screens
The bigger they are, the harder they fall, and Crown Resorts is likely on the verge of a major collapse. Once Australia’s leading casino operator, the company has been embroiled in one controversy after another for the past several years until regulators finally decided that enough was enough. However, despite the international heat coming down […]
Casino
May 17, 2021
Crown Resorts Might Be Seriously Considering Merger with Star Entertainment
It appears that The Blackstone Group is going to have to head back to the boardroom if it wants to make a play for Crown Resorts. After Star Entertainment Group stepped in with a proposal that would see Crown and Star merge, Blackstone tried to sweeten the pot, but it apparently isn’t enough. Crown’s board […]