|Traded as||ASX: CWN|
|Predecessor||Publishing and Broadcasting Limited|
|Founded||31 May 2007|
|Headquarters||Southbank, Melbourne, Australia|
|Robert Rankin - Executive Chairman
Rowen Craigie - Chief Executive Officer and Managing Director
|Revenue||A$4.71 billion (2014-15) |
|Subsidiaries||Crown Melbourne Limited
Crown Perth Limited
Crown Resorts Limited is one of Australia's largest gaming and entertainment groups which had, in June 2015, a market capitalisation of just over A$7.5 billion.
The company was established in 2007 when Publishing and Broadcasting Limited (PBL) divested its gaming assets to Crown Limited. PBL was renamed to Consolidated Media Holdings, retaining all of the remaining assets.
In 2008, Crown attempted to enter the Las Vegas gambling market by acquiring a 19.6 per cent stake in Fontainebleau Resorts for US$250 million, which resulted in a total loss the following year when other investors withdrew US$800 million financing, resulting in bankruptcy applications. This was one of a succession of similar major losses in Gateway Casinos, Harrah's Entertainment and Station Casinos from which a total of $547.5 million was written off.
Crown wholly owns and operates two of Australia’s leading gaming and entertainment complexes, Crown Casino and Entertainment Complex in Melbourne and Crown Perth, formerly the Burswood Entertainment Complex, in Perth.
In September 2013, the Sri Lankan government gave approval to Crown's chairman and largest shareholder, James Packer, to invest in a two tower building in the heart of the Sri Lankan capital Colombo. The project was to be completed by 2015. However, when a new government took office, President Maithripala Sirisena canceled all three casino licenses awarded by the previous administration; including the Crown Resorts project.
On June 26, 2015, Crown officially announced that the new hotel, called Alon Las Vegas, will be located in the former New Frontier site. Groundbreaking began later that year and will open in 2018.
- Crown Melbourne Entertainment Complex (100%)
- Crown Perth (100%)
- Crown Sydney
- CrownBet: A joint venture. (67%)
- Aspinalls United Kingdom casinos (100%)
- Betfair Australasia Pty Ltd: An online betting exchange (50%)
- Melco Crown Entertainment: A joint venture with Melco International Development developing casino/hotel properties on the Cotai Strip in Macau, including City of Dreams and Altira Macau (34%)
- Cannery Casino Resorts LLC: Operates casinos and hotels in Nevada and Western Pennsylvania, USA (24.5%)
- Aspers Holdings (Jersey) Limited: A casino business in the United Kingdom
- Crown Sri Lanka (45%): A proposed joint venture property in Colombo, Sri Lanka to be reportedly built through the Lake Leisure Holdings consortium in 2017.
- Alon Las Vegas: Resort and casino opening in 2018.
City of Dreams, Macau (MPEL)
The company's Crown Resorts Foundation makes grants to the arts, community welfare, education, health care and the environment. In July 2014 Crown's chairman and largest shareholder James Packer launched a new initiative, the National Philanthropic Fund, to which his family foundation, and the Crown foundation would each contribute $100 million over ten years to support community projects in Australia.
In April 2016, the company's joint venture with Matthew Tripp, CrownBet pleaded guilty to five counts of breaching laws by publishing illegal betting advertising that offered inducements for NSW residents to gamble. According to NSW Department of Justice, CrownBet "sought to have the matters finalised without conviction in Downing Centre Local Court yesterday but Magistrate Joanne Keogh said convictions were necessary for general deterrence to others in the industry and to protect the vulnerable. CrownBet was convicted of the five offences and ordered to pay a total of $10,500 in fines and also ordered to pay L&GNSW legal costs of $10,000."
- Crown Resorts Limited at ASIC National Names Index
- "Board of Directors" Retrieved on 23 December 2015.
- Senior Management at official website
- Crown Limited Annual Report 2015 at official website
- "PBL Scheme and Demerger Scheme – Market Update" (PDF). 2007-11-30. Retrieved 2007-12-16.[dead link]
- Carson, Vanda Packer's US casino gamble in $250m loss Sydney Morning Herald, 11 June 2009
- Tabakoff, Nick Why James Packer attracts so much publicity The Australian Business, 7 March 2009
- Sri Lanka’s new government cancels new casino licenses Feb. 3 2015 World Casino Directory News
- James Packer snaps up Las Vegas site
- About Crown: Summary of key businesses at official website
- "PBL announces split into separate listed gaming and media companies" (PDF). 2007-05-08. Archived from the original (PDF) on September 27, 2007. Retrieved 2007-12-16.
- Crown Confirms Discussions to Develop a Resort in Sri Lanka
- James Packer wins casino deal in Sri Lanka
- "James Packer leaves $200 million on the table". The Daily Telegraph. Retrieved 25 July 2014.