Tag Archives: Crown Resorts
Australia – Packer open to selling his 37 per cent stake in Crown
Crown Resorts majority shareholder James Packer has said he is open to selling his 37 per cent stake in the Australian casino operator. The announcement from Mr Packer’s private company, Consolidated Press Holdings follows Blackstone Group’s bid of $6.2bn to buy the operator last month. CPH said: “CPH welcomes the Crown board’s announcement that it…
Australia – Blackstone offers Crown a lifeline with $6.2bn bid
Blackstone Group has put forward a bid of $6.2bn to buy Australian casino operator Crown Resorts with the deal representing a huge markdown on the company’s value last year. Blackstone already has a shareholding of 9.99 per cent in Crown which it acquired from Melco Resorts & Entertainment Limited for $8.15 per share in April…
Australia – Victoria to conduct its own suitability inquest for Crown to operate in Melbourne
Australian casino operator Crown Resorts will have its suitability as an operator checked on all fronts with the Victorian Government confirming that a Royal Commission will investigate the company’s suitability to hold a casino license for Crown Melbourne. Following the Bergin Inquiry into the operator’s suitability for Sydney, an inquest has also been launched in…
Australia – Crown welcomes ‘a complete and comprehensive corporate re-set’
Beleaguered Australian casino operator Crown Resorts has taken another body blow with the publication of its half year results, but with resignations of key executives mounting, and following the report of the NSW Independent Liquor and Gaming Authority Inquiry, Crown has confirmed it is undergoing ‘a complete and comprehensive corporate re-set.’ The impact of the…
Australia – Western Australia gaming commission to investigate if Crown is a suitable operator for Perth
The Gaming and Wagering Commission of Western Australia will now formally recommend that an independent inquiry under the Casino Control Act 1984 be established under the direction of the Minister for Racing, Gaming and Liquor into matters uncovered by the Bergin Inquiry specific to Crown Perth operations. In requesting the State Solicitor’s Office to prepare…
Australia – Resignations tendered at Crown as Chairman commences ‘root and branch’ changes
Crown’s Chairman Helen Coonan has offered an unreserved apology and accepts the ‘warranted criticism’ following a New South Wales Independent Liquor and Gaming Authority inquiry into Crown Resorts. The inquiry found that the Australian operator is not currently fit to run its A$2.2bn ($1.7bn) casino in Sydney’s Barangaroo district, but it could reform to become…
Australia – Crown could get chance to reform having been found ‘unsuitable’ for NSW
The New South Wales Independent Liquor and Gaming Authority inquiry into Crown Resorts has said that whilst the Australian operator is not currently fit to run its A$2.2bn ($1.7bn) casino in Sydney’s Barangaroo district, it could reform to become a ‘suitable’ holder for the licence. The long-awaited Bergin Report, comprising 751 pages, followed allegations in…
Australia – Crown appoints Nigel Morrison to its board
Crown Resorts has appointed former Galaxy and Sky City executive, Nigel Morrison, to the Crown Board as a Non-Executive Director. Mr. Morrison is a former Chief Executive of SkyCity Entertainment Group, with more than 20 years’ experience in the gaming industry throughout Australasia and Asia. Prior to being appointed to SkyCity, Mr, Morrison was the…
Australia – Rumours resurface over Sands’ interest in Crown following NYE celebrations
The rumours that Las Vegas Sands is looking to buy a piece of Australian operator Crown Resorts are back following reports that casino tycoons Sheldon Adelson and James Packer were spotted together during a New Year’s Eve bash in the French Caribbean. The potential for Mr Packer selling his 36 per cent stake in Crown…
