Who is the owner of crown casino melbourne
Who is the owner of crown casino melbourne
Crown Casino in Melbourne is owned by Crown Resorts Limited , an Australian casino and entertainment company listed on the Australian Securities Exchange (ASX).
Crown Resorts Ltd. was founded in 1994 by Lloyd Williams, the late Kerry Packer, and James Packer. The company has grown to become one of Australia's largest casino operators, with properties in Melbourne, Perth, and Sydney, as well as international assets in London.
Company Ownership Structure
Crown Casino in Melbourne is owned by Crown Resorts Ltd, a publicly traded company listed on the Australian Securities Exchange (ASX). The major shareholders of Crown Resorts are:
- Melco Resorts (26.5%)
- PBL Gaming (25.8%)
- James Packer (25.2%)
- Other Shareholders (22.5%)
Current Ownership Status
Crown Resorts, the company that owns Crown Casino in Melbourne, is currently undergoing a significant ownership restructure.
In June 2022, Blackstone Group, an American private equity firm, agreed to acquire Crown Resorts for A$8.9 billion. The acquisition is expected to be completed in the first half of 2023.
Once the acquisition is complete, Blackstone Group will become the majority owner of Crown Resorts. The company plans to invest heavily in Crown Casino in Melbourne, including upgrading the property and expanding its gaming offerings.
Regulatory Oversight
Crown Casino is subject to strict regulatory oversight by the Victorian Commission for Gambling and Liquor Regulation (VCGLR).
VCGLR ensures that Crown meets its legal obligations, including:
- Protecting vulnerable people from gambling-related harm
- Preventing money laundering and other financial crimes
- Maintaining a safe and fair gambling environment
VCGLR has the power to impose sanctions on Crown, including fines and license suspensions, if it fails to comply with its obligations.