Recent events
Recent events tied to this brand in public sources.
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2021
Blackstone proposes to acquire Crown Resorts
Blackstone proposed to acquire Crown Resorts for A$12.5 per share; Crown disclosed the proposal. The source describes it as Blackstone's third proposal and notes uncertainty about whether a deal will ultimately be reached.
2021
Crown Resorts appoints Steve McCann as Crown Melbourne CEO
Crown Resorts confirmed Steve McCann's appointment as CEO of Crown Melbourne. McCann will hold the role while continuing to serve as Crown Resorts CEO.
2021
Oaktree submits revised funding proposal to Crown Resorts
Crown Resorts received Oaktree Capital Management's revised proposal for a A$3.1 billion funding facility, which Oaktree said would fund a selective buy-back of Crown shares held by Consolidated Press Holdings. Crown's board had not yet formed a view on the proposal.
2021
Crown Resorts gambling practices scrutinized at royal commission
At Victoria’s royal commission into Crown’s licence, evidence described Crown’s gambling time limits and monitoring practices as inconsistent with academic advice; the inquiry also heard that a patron gambled for 34 hours before staff intervened. Crown’s general manager acknowledged that its policies had for years been inconsistent with the best available research on responsible gambling.
2021
The Star proposes merger with Crown Resorts
The Star Entertainment Group announced a proposal to merge with Crown Resorts, which it said would create a roughly $12 billion gambling company. The Star said it believed the ACCC would not oppose the deal.
2021
Victoria bans Crown Resorts from working with junkets until due diligence improves
Victoria's gambling regulator banned Crown Resorts from working with junkets until it satisfied the commission that it had improved its due diligence procedures.
2021
Victoria fines Crown Resorts $1 million over junket due diligence
Victoria's gambling regulator fined Crown Resorts $1 million for failing to vet high-roller junket tour partners for criminal links and other probity issues. The regulator said Crown breached its regulatory obligations by failing to have a robust process to assess the ongoing probity of junket entities.
2021
Victoria announces royal commission into Crown Resorts
The Victorian government announced a royal commission into Crown Resorts to determine whether it was suitable to hold a casino licence in the state, following a New South Wales inquiry that found the group unfit to hold a licence at its Sydney venue. The article also reports allegations of poor governance and money laundering.
2021
Crown Resorts appoints Helen Coonan interim executive chairman
Crown Resorts said chair Helen Coonan would assume the role of executive chairman on an interim basis, effective immediately, while the board searched for a new CEO.
2021
Crown Resorts CEO Ken Barton steps down
Crown Resorts said CEO and managing director Ken Barton had stepped down following a report into the company. The source does not specify the date the departure took effect.
2021
Andrew Demetriou resigns from Crown Resorts board
Andrew Demetriou resigned from the Crown Resorts board effective immediately on Thursday, saying he was stepping down to give Crown the best possible chance of becoming suitable to the NSW regulator.
2021
Crown Resorts chair apologizes and pledges company-wide change
Following a report about Crown Resorts' connections with organised crime, Crown chair Helen Coonan apologized for the findings and said the company needed root-and-branch change. She said changes had commenced and that Crown would implement necessary reforms.
2020
Jenny Jiang announces lawsuit against Crown Resorts
Former Crown Resorts employee Jenny Jiang said she was suing Crown Resorts for damages, with her claim being filed in the Supreme Court of Victoria. Her lawyer said she was seeking compensation over alleged breaches of the duty of care Crown owed her as an employer.
2020
Crown Resorts announces leadership reshuffle
Crown Resorts announced a leadership reshuffle: Helen Coonan would replace John Alexander as chair, Ken Barton would become chief executive, and John Horvath was appointed deputy chair. Alexander would remain an executive director.