Good Morning. Crown Resorts has been through the battle but has emerged, largely, unscathed. CEO Ciarán Carruthers tells AGB that he was “extremely confident” the group would retain its Sydney and Melbourne casino licenses, as hundreds of millions were spent on remediation efforts, and the entire corporate culture was revamped. Meanwhile, in Macau Wynn’s revenue has soared in the first quarter, with both its Cotai and peninsular properties seeing gains. And in sports betting, illegal platforms are threatening the sport’s integrity, says the AFR.
What you need to know
- Crown Resorts’ CEO says that he was “extremely confident” the group could maintain its Melbourne and Sydney licenses.
- Wynn Macau’s revenue reached nearly $1 billion in the first quarter, with strong results in Cotai and the peninsula.
- Global expansion of illegal horse racing betting platform Citibet a threat to the sport’s integrity: ARF Council.
On the radar
- Philippines’ anti-crime body files new charges against Pasay POGO execs.
- May could be Macau’s strongest month year-to-date: Jefferies.
- Philippines received nearly 2M international visitors in 4 months, up 17%.
- Macau hotel occupancy hit 89% during Labor Day holiday.
- Premium Leisure Corp moves closer to delisting.
- Philippines Telco Globe blocks over 1,000 illegal gambling sites in Q1.
AGB Intelligence
AUSTRALIA
Crown Resorts CEO: “always confident” in retaining licenses
The CEO of Crown Resorts, speaking exclusively to AGB, says that he was always “extremely confident” that the company would be able to retain its casino licenses in both Melbourne and Sydney. Ciarán Carruthers notes the hundreds of millions put into its total revamp of its corporate culture, but that those challenges have now been “dealt with”, now looking ahead to a result on Crown Perth in about a year.
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