Crown Resorts has confirmed David Tsai as Chief Executive Officer, subject to regulatory approvals.

Crown Resorts has sold the One Queensbridge development site in Melbourne for $57.05 million as part of Blackstone's strategy to recover the group from financial struggles. Originally intended for a $1.17 billion hotel and apartment complex, those plans were suspended in 2019. Meanwhile, INTERPOL announced that a major international sting operation against illegal football gambling has resulted in over 5,100 arrests and the recovery of more than $59 million in illicit earnings. In Macau, authorities are investigating complaints by mainland Chinese tour groups that they were asked for entry fees by tour guides when entering casinos in Macau.

Crown Resorts has officially sold the One Queensbridge development site in Melbourne for AU$85 million (US$57.05 million), as part of a strategic move by its private equity owner, Blackstone, to recover from poor financial performance.

Crown Resorts is contemplating the sale of the prestigious Capital Golf Club as part of efforts to stabilize its finances, which have been impacted by a decline in high-roller attendance at Australian casinos. 

Crown Resorts’ CEO Ciarán Carruthers is reportedly going to be stepping down after nearly two years in the role.

Australia’s largest gaming operator Crown Resorts has announced the appointment of a new Chair, John Borghetti Ao, effective from July 1st.

Crown Resorts’ CEO told AGB that he had little doubt that the group would be found suitable to maintain its casino licenses in both Sydney and Melbourne, but that the process was much more intense than anticipated, and oversight is unlikely to let up.

Crown Resorts is reportedly cutting up to 1,000 jobs across its properties in Melbourne, Sydney and Perth in response to a lagging economic environment and its need to keep up with regulatory requirements.

Brokerage Morgan Stanley is revising down its estimates for Sands China, now predicting that the company will garner EBITDA of some $2.4 billion for 2024, down 8 percent compared to previous estimates.

Crown Resorts is retaining its casino license in Sydney, after authorities in New South Wales ruled that the group’s remediation efforts have been sufficient, and the multi-million dollar investment were worth every penny, granting back its casino license.