Crown Resorts

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Australian integrated resort operator combining casinos, hotels, restaurants, events and entertainment venues.

Last updated October 31, 2026

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Overview

Crown Resorts is an Australian integrated resort and gaming group operating Crown Melbourne, Crown Perth and Crown Sydney. Its properties combine casino floors with hotels, restaurants, bars, retail, convention and event facilities, live entertainment and premium hospitality. The business was created in 2007 when Publishing & Broadcasting Limited separated its gaming assets into Crown Limited, while the parent company retained its other media investments. Crown subsequently pursued an international expansion strategy involving casinos, gaming investments, online wagering, restaurants and proposed resort developments. Some of those ventures, including investments connected with Las Vegas, Macau, Sri Lanka and the United Kingdom, were later abandoned, sold or placed outside the group’s core Australian portfolio. Crown also held a minority interest in Nobu and participated in online betting and gaming-development businesses. Its loyalty platform, Crown Rewards, links customer activity across the Melbourne, Perth and Sydney resorts and provides tiered benefits for gaming and non-gaming spending. Crown’s position changed substantially after a series of investigations into money laundering controls, relationships with junket operators, governance, responsible gambling and compliance with Australian gaming regulation. The Bergin inquiry in New South Wales found Crown unsuitable to operate gaming at Crown Sydney without extensive reform, and separate reviews in Victoria and Western Australia produced further findings and regulatory conditions. Crown Sydney initially opened accommodation, restaurants and bars without gaming, before gaming operations were later permitted subject to regulatory oversight. In 2022, Blackstone acquired Crown Resorts in a transaction approved by the Federal Court of Australia, ending the company’s ASX-listed status. Under private ownership, Crown has focused on remediation, governance reform, financial-crime controls, responsible gambling and maintaining its Australian integrated resorts. Its present identity is therefore that of a regulated premium resort operator rather than a broadly international casino holding company.

History

Crown Resorts emerged in 2007 after Publishing & Broadcasting Limited separated its gambling assets into Crown Limited. The new company inherited the Crown casino and resort businesses and became a distinct gaming and entertainment group. During its early expansion, Crown sought to build a wider international portfolio. It agreed in 2007 to acquire Cannery Casino Resorts, but the transaction was terminated during the global financial crisis and replaced by a minority investment. In 2008, Crown invested in Fontainebleau Resorts in an attempt to enter Las Vegas; the investment was written off after the proposed Fontainebleau project encountered financing problems and bankruptcy proceedings. Crown also recorded losses on other gaming investments, including interests associated with Gateway Casinos, Harrah’s Entertainment and Station Casinos. In the mid-2010s, the group pursued additional growth through Betfair Australia, BetEasy, Nobu, Aspers and proposed resort projects. A planned Crown-branded development in Colombo was cancelled after Sri Lanka’s government revoked the relevant casino licences. Crown acquired the former New Frontier site in Las Vegas and announced the Alon Las Vegas project, but suspended the development in 2016 and later sought to dispose of the investment. Crown’s Macau interests were held through Melco Crown Entertainment, a joint venture that developed City of Dreams and Altira Macau before Crown’s involvement was reduced and ultimately exited. In Australia, Crown Sydney was developed from 2016 as a major hotel and resort project. The property began a restricted soft opening in late 2020, offering accommodation, restaurants and bars while gaming remained unavailable because of regulatory proceedings. A New South Wales inquiry led by the Bergin inquiry found that Crown’s governance, anti-money-laundering systems and dealings with junket operators made it unsuitable to operate casino gaming in the state without major reforms. The findings intensified scrutiny in Victoria and Western Australia, where separate reviews examined Crown Melbourne and Crown Perth. The company subsequently changed leadership, compliance structures and operating procedures. Crown’s ownership also shifted during this period. James Packer sold a significant shareholding to Melco Resorts & Entertainment in 2019, prompting a regulatory examination of the transaction. In 2022, Blackstone completed its acquisition of Crown Resorts after court approval, and Crown ceased to be publicly listed. The company has since operated as a privately owned Australian resort group under continuing regulatory supervision. Its reform agenda has included stronger financial-crime controls, responsible gambling measures, governance changes, independent monitoring and cooperation with state regulators. Earlier international holdings have been reduced, including the sale of its Nobu interest in 2024 and Crown London Aspinalls in 2025. Crown’s contemporary business is centered on its three Australian integrated resorts and on restoring regulatory confidence in their operation.

2025
Crown London Aspinalls sold
[1]Crown Resortsen.wikipedia.org
Crown Resorts sold the Crown London Aspinalls casino to Wynn Resorts.
2024
Nobu stake sold
[1]Crown Resortsen.wikipedia.org
Crown sold its interest in Nobu to a Blackstone portfolio company.
2022
Blackstone takeover completed
[1]Crown Resortsen.wikipedia.org
Blackstone completed its acquisition of Crown Resorts and Crown was removed from the ASX.
2021
Bergin inquiry findings
[1]Crown Resortsen.wikipedia.org
The New South Wales inquiry found Crown unsuitable to operate gaming without substantial cultural, operational and management reform.
2020
Crown Sydney soft opening
[1]Crown Resortsen.wikipedia.org
Crown Sydney opened selected hotel, dining and bar facilities while gaming operations remained unavailable.
2019
Melco share sale
[1]Crown Resortsen.wikipedia.org
James Packer agreed to sell a substantial Crown shareholding to Melco Resorts & Entertainment, prompting an NSW regulatory inquiry.
2016
Crown Sydney construction begins
[1]Crown Resortsen.wikipedia.org
Construction began on the Crown Sydney integrated resort development.
2014
Nobu investment
[1]Crown Resortsen.wikipedia.org
Crown acquired a 20 percent interest in the Nobu restaurant and hotel business.
2008
Fontainebleau Resorts investment
[1]Crown Resortsen.wikipedia.org
Crown acquired a minority interest in Fontainebleau Resorts as part of an attempted Las Vegas expansion.
2007
Crown Limited established
[1]Crown Resortsen.wikipedia.org
Publishing & Broadcasting Limited separated its gambling assets into Crown Limited, creating the predecessor of Crown Resorts.

Products and positioning

Premium integrated resorts with casino, hotel, dining, entertainment and event offerings.

Integrated resort · 1994
Crown Melbourne
Crown Melbourne is Crown’s flagship Victorian resort on the Southbank precinct of Melbourne. It combines casino gaming with hotels, restaurants, bars, retail, entertainment and event facilities. The property has been a major focus of Australian regulatory scrutiny, particularly concerning money-laundering controls, responsible gambling and governance.
Integrated resort · 1985
Crown Perth
Crown Perth is an integrated resort in Western Australia offering casino gaming, accommodation, dining, entertainment and conference facilities. Its operations have been examined by Western Australian regulators, with the company required to implement remediation and governance measures to maintain suitability.
Integrated resort · 2020
Crown Sydney
Crown Sydney is a luxury hotel and resort development at Barangaroo. It includes hotel accommodation, restaurants, bars, event spaces and gaming facilities subject to New South Wales regulatory approval. The resort’s non-gaming facilities opened first while the state inquiry assessed whether Crown was suitable to conduct casino gaming.
Loyalty programme
Crown Rewards
Crown Rewards is the group’s loyalty programme for Crown Melbourne, Crown Perth and Crown Sydney. It uses tiered membership and rewards activity across gaming, hotels, dining, bars, retail and events. Members can earn points and status credits and receive benefits that vary by tier.

Controversies

2023
CEO access allegations
Crown investigated allegations that Ciaran Carruthers had permitted restricted patrons to access gaming areas. The internal review later cleared him.
Source
2022
Chinese bank-card transaction penalty
Crown Melbourne was penalized for processing Chinese bank-card transactions as hotel-related spending when they were connected to casino activity.
Source
2021
Regulatory findings on money laundering and suitability
The New South Wales inquiry found serious deficiencies in anti-money-laundering controls, governance and relationships with junket operators, concluding that Crown was unsuitable to operate gaming in NSW without reform.
Source
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.
Source
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.
Source
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.
Source
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.
Source
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.
Source
2019
Crown Unmasked and junket allegations
Media investigations alleged breaches of Chinese gambling restrictions, problematic junket relationships and weaknesses in Crown’s controls over high-value customers. Crown denied the claims and described the reporting as misleading.
Source
2016
Illegal betting advertising
CrownBet was convicted of five New South Wales offences involving prohibited betting advertising and inducements.
Source

2014National Philanthropic Fund
Australia
Crown and the Packer family foundation announced a long-term philanthropic initiative supporting Australian arts, community welfare, education, healthcare and environmental projects.
Outcome. A charitable funding programme administered through the group’s philanthropic structures.
Source

Brand decisions

2022
Blackstone acquisitionM&A
Background
Crown faced regulatory investigations, governance criticism and a need for extensive operational remediation.
Action taken
Crown accepted Blackstone’s takeover offer, which was approved by the Federal Court of Australia.
Aftermath
Crown became privately owned and was delisted from the ASX.
Takeover value. A$8.9 billion offer (2022)
Source
2016
Alon Las Vegas project haltedStrategy
Background
Crown’s planned resort on the former New Frontier site faced an uncertain development environment and changing strategic priorities.
Action taken
Crown stopped the project and sought to sell its investment.
Aftermath
The planned Las Vegas expansion did not proceed.
Source
2009
Cannery Casino Resorts transaction restructuredM&A
Background
Crown’s proposed acquisition of Cannery Casino Resorts was abandoned amid deteriorating financial conditions.
Action taken
Crown instead acquired a minority stake and paid a termination fee.
Aftermath
The transaction left Crown with a smaller US exposure than originally planned.
Investment and termination payment. US$1.75 billion proposed acquisition → 24.5% stake for $370 million plus a $50 million termination fee (2007-2009)
Source

Recent events

Unconfirmed
Blackstone proposes to acquire Crown Resorts[8]黑石提出收购皇冠度假酒店集团biz.jrj.com.cn
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.
2021-08-23
Crown Resorts appoints Steve McCann as Crown Melbourne CEO[9]Crown Resorts任命Steve McCann为Crown Melbourne首席执行官igamingbusiness.com
Reported: 2021-08-23
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.
2021-06-15
Oaktree submits revised funding proposal to Crown Resorts[10]Oaktree 向 Crown Resorts 提交修订后的融资提案igamingbusiness.com
Reported: 2021-06-15
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.
2021-06-02
Crown Resorts gambling practices scrutinized at royal commission[5]Crown Resorts gambling practices scrutinized at royal commissiontheage.com.au
Reported: 2021-06-02
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.
2021-05-09
The Star proposes merger with Crown Resorts[11]The Star 提议与 Crown Resorts 合并nine.com.au
Reported: 2021-05-09
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.
2021-04-27
Victoria bans Crown Resorts from working with junkets until due diligence improves[4]Victoria fines Crown Resorts $1 million over junket due diligencewatoday.com.au
Reported: 2021-04-27
Victoria's gambling regulator banned Crown Resorts from working with junkets until it satisfied the commission that it had improved its due diligence procedures.
2021-04-27
Victoria fines Crown Resorts $1 million over junket due diligence[4]Victoria fines Crown Resorts $1 million over junket due diligencewatoday.com.au
Reported: 2021-04-27
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.
2021-02-22
Victoria announces royal commission into Crown Resorts[6]Victoria announces royal commission into Crown Resortsnine.com.au
Reported: 2021-02-22
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.
2021-02-15
Crown Resorts appoints Helen Coonan interim executive chairman[12]Crown Resorts 任命 Helen Coonan 为临时执行主席thestar.com.my
Reported: 2021-02-14
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.
Unconfirmed
Crown Resorts CEO Ken Barton steps down[13]Crown Resorts首席执行官Ken Barton辞职abc.net.au
Reported: 2021-02-14
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.

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