who owns crown casino melbourne Crown owns and operates two of Australia's leading integrated resorts - Who owns Crown casinoSydney Lloyd Williams Who Owns Crown Casino Melbourne? The Blackstone Era Begins

Who owns Crown casinoPerth The question of who owns Crown Casino Melbourne has a clear and definitive answer following a significant acquisition in 2022.Crown Resorts trims annual loss to 5m amid ... Crown Melbourne, a cornerstone of the Australian entertainment and casino landscape, is now under the ownership of Blackstone, a prominent global investment firmBlackstone-owned Crown Resorts found fit to hold .... This marks a new chapter for the iconic venue, transitioning from its previous association with Crown Resorts Limited and its notable figures.

The acquisition was completed on June 24, 2022, when SS Silver II Pty Ltd, an entity owned by funds managed or advised by Blackstone Inc., finalized its takeover of Crown Resorts Limited. This substantial transaction, valued at approximately A$8.9 billion (or $6.3 billion USD), saw Blackstone become the new owner of Crown, operating its integrated resorts, including the flagship Crown Melbourne.

Prior to this pivotal change, Crown Melbourne was a subsidiary of Crown Resorts Limited. The company had a long and complex history, with significant periods of control by Australian billionaire James Packer. For nearly two decades, James Packer and his family interests held considerable influence over the company, with him being the largest shareholder of Crown and its associated casinos.2022年1月13日—The Crown Resorts casino empire controlled byJames Packerfor nearly two decades is moving closer to new ownership with the company's board ... His role evolved over time, including his resignation from the boardBillionaire James Packer's Crown Resorts Accepts .... A significant earlier figure in Crown Melbourne's history was Lloyd Williams, who founded and initially ran the establishment until Publishing & Broadcasting Limited took over in 1999.James Packer, Crown Resorts inch closer to sale

The transition to Blackstone ownership has been accompanied by significant financial restructuring and operational adjustments.Crown Melbourneofficially opened its doors to the public in June 1994, bringing Australia's leading integrated resort to Victoria. Reports indicate that under Blackstone ownership, Crown Resorts has made efforts to cut costs, with almost $220 million being removed from its cost base2024年3月26日—Blackstone-owned Crown Resortscan keep its licence to operate its flagship Melbourne casino, a gambling regulator said on Tuesday, .... This strategic shift aims to improve profitability, and indeed, Blackstone-owned Crown Resorts reported its first profit in five years following these measures and asset sales. The company's financial performance for the 2024 financial year reflected this turnaround, with accounts confirming that its private equity owner injected further capital.

The change in ownership was not without its regulatory scrutiny.James Packer, Crown Resorts inch closer to sale Blackstone had to secure approval from Australian gambling regulators to own and operate the Crown casinos in Sydney, Melbourne, and PerthAlan Miyasaki, Head of Real Estate Acquisitions Asia,Blackstone, said: “We are thrilled to become the new owner of Crown, bringing our expertise in hospitality .... These approvals were a critical condition of the deal. Despite past controversies and a damning report into illegal conduct that had previously tarnished its reputation, leading to questions about whether it was suitable to hold its licenses, Blackstone-owned Crown Resorts has since demonstrated its commitment to remediation. This has led to Blackstone-owned Crown Resorts being found fit to hold its licenses, including its flagship Melbourne casino license, confirmed by Victoria state's gaming regulator in March 2024.Blackstone's Crown Resorts mulls sale of luxury ... - AFR Blackstone is likely to become the new owner of Perth's casino once all regulatory hurdles were cleared, further consolidating their control over Crown's Australian assets.

Looking ahead, Blackstone has signaled its long-term commitment to its investment. As one of the world's largest investors, Blackstone paid $8.Blackstone-owned Crown Resorts found fit to hold ...9bn for Crown with a stated intention for a sustained involvement. This includes plans for a significant makeover of Crown properties, with a $200 million investment earmarked for Crown Melbourne to "win back Melburnians." This suggests a strategy focused on revitalizing the brand and enhancing the guest experienceBlackstone-owned Crown Resorts found fit to hold .... The private equity firm has also been considering the sale of certain assets, such as the luxury golf course at Crown, indicating a strategic review of what is central to Crown's business moving forward under Blackstone ownership.Blackstone completes AU.87bn Crown Resorts acquisition

In summary, the current owner of Crown Casino Melbourne is Blackstone, through its entity SS Silver II Pty Ltd.It was founded, owned and run byLloyd Williamsuntil taken over by Publishing & Broadcasting Limited in 1999. This acquisition from Crown Resorts Limited, a company previously significantly influenced by James Packer, represents a major shift in the ownership and operational strategy of this prominent Australian casino. The focus now is on financial recovery, regulatory compliance, and a renewed vision for the Crown brand.