• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Thursday 29 May 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
No Result
View All Result

Australia’s Crown sells London casino to Wynn Resorts

Ben Blaschke by Ben Blaschke
Fri 10 Jan 2025 at 08:35
Australia’s Crown sells London casino to Wynn Resorts

Crown London

88
SHARES
2.2k
VIEWS
Print Friendly, PDF & Email

Australia’s Crown Resorts has announced the sale of its only international casino, Crown London, to Wynn Resorts for an undisclosed amount.

In a statement issued Friday, Crown said the transaction supports its focus on growing and developing its strategic core assets in Australia, namely Crown Melbourne, Crown Sydney and Crown Perth.

The sale is expected to complete in the second half of 2025.

“The sale of Crown London aligns with our strategy to invest in our Australian assets and customer offering to deliver sustainable growth for the business in our core market,” explained Crown CEO, David Tsai.

“Our priority is to deliver new and elevated experiences for our guests in Melbourne, Perth, and Sydney in line with our strategy to be the leading entertainment destinations in Australia.”

Wynn Resorts CEO Craig Billings added, “This acquisition of an iconic asset offers us a presence in a global gateway city and will create a conduit for Wynn guests to visit our resorts, particularly Wynn Al Marjan Island which is slated to open in the first quarter of 2027 in Ras Al Khaimah in the United Arab Emirates.”

Crown London, formerly Aspinall’s, was acquired by Crown Resorts in 2011.

The member’s only casino spans two historic townhouses in Mayfair, London, offering 20 gaming tables in a variety of sophisticated salons, as well as an intimate restaurant and lounge for entertaining. The casino will operate under the Crown London name until the transaction closes, Wynn confirmed.

Crown said it work collaboratively with Wynn Resorts to achieve a smooth transition of the London business following Wynn Resorts obtaining all necessary regulatory approvals.

The sale of Crown London represents the latest move in the company’s efforts to divest non-core assets, including last year offloading its entire 20% stake in global restaurant chain Nobu.

With Australian market conditions and significant regulatory pressures continuing to torch the local casino industry, Crown most recently reported an AU$164.8 million (US$111 million) loss for the 12 months to 30 June 2024 on flat year-on-year revenues.

Crown said it work collaboratively with Wynn Resorts to achieve a smooth transition of the London business following Wynn Resorts obtaining all necessary regulatory approvals.

The sale of Crown London represents the latest move in the company’s efforts to divest non-core assets, including last year offloading its entire 20% stake in global restaurant chain Nobu.

With Australian market conditions and significant regulatory pressures continuing to torch the local casino industry, Crown most recently reported an AU$164.8 million (US$111 million) loss for the 12 months to 30 June 2024 on flat year-on-year revenues.

For analysis on the transaction by our CEO Andrew W Scott, please click here.

RelatedPosts

Ainsworth flags 1H25 revenue growth on Australian market strength but Novomatic takeover facing opposition by family of founder

Ainsworth chair says higher R&D investment necessary to boost global market competitiveness

Thu 29 May 2025 at 05:49
A moral defense of gambling

A moral defense of gambling

Wed 28 May 2025 at 18:19
Galaxy, Melco and Wynn to attend major media event “Thai Entertainment Complex Roundtable” alongside Thai voices opposing entertainment complex industry

Galaxy, Melco and Wynn to attend major media event “Thai Entertainment Complex Roundtable” alongside Thai voices opposing entertainment complex industry

Wed 28 May 2025 at 06:58
SABA Sports to exhibit at SBC Summit 2025 in Lisbon

SABA Sports to exhibit at SBC Summit 2025 in Lisbon

Tue 27 May 2025 at 11:35
Load More
Tags: AustraliaCrown LondonCrown ResortsDavid TsaiEuropeWynn Resorts
Share35Share6
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Call of Macau

Call of Macau

by Ben Blaschke
Wed 28 May 2025 at 17:55

The who’s who of the Asian gaming industry descended on Macau in early May for the 16th edition of G2E...

We like to party

We like to party

by Ben Blaschke
Wed 28 May 2025 at 17:28

The Industry Party returned to MGM Cotai on 8 May with around 400 guests attending to make it the largest...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Ainsworth flags 1H25 revenue growth on Australian market strength but Novomatic takeover facing opposition by family of founder

Ainsworth chair says higher R&D investment necessary to boost global market competitiveness

by Ben Blaschke
Thu 29 May 2025 at 05:49

The chairman of Australian slot machine supplier Ainsworth Game Technology says the company must continue to increase its investment into research and development (R&D) in order to maintain global competitiveness and gain market share. Danny Gladstone cited R&D as Ainsworth’s...

Macau GGR rises 43.7% year-on-year to MOP$86.86 billion in 2021

Moody’s maintains investment-grade rating for Macau as fiscal reserves climb back to US$77 billion

by Ben Blaschke
Thu 29 May 2025 at 05:23

Moody’s Ratings has affirmed the local and foreign currency issuer rating of the Macao SAR Government at Aa3 with a negative outlook, citing the jurisdiction’s strong fiscal reserves which have grown to MOP$624 billion (US$77.2 billion) as of March 2025....

Criminalization of illegal money exchange linked to 61.5% year-on-year increase in Macau’s gaming-related crime in 1Q25

Criminalization of illegal money exchange linked to 61.5% year-on-year increase in Macau’s gaming-related crime in 1Q25

by Pierce Chan
Wed 28 May 2025 at 13:40

In response to the criminalization of money exchange gangs, which came into effect in October 2024, there were 567 gaming crimes in Macau in the first quarter of 2025, representing an increase of 216 cases or 61.5% over the same...

Thailand: Keeping the dream alive

Maybank: Thailand tourism hits rock bottom as Chinese visitors stay away following earthquake, actor abduction

by Ben Blaschke
Wed 28 May 2025 at 12:14

Thailand’s tourism sector is said to have hit rock bottom, with a drastic fall in short-haul visitors – particularly those from China – having severely impacted the industry according to a note from Maybank Securities. At a time when the...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English