CLAIMS TO FAME
- Veteran Macau gaming executive with experience at Galaxy, Sands and Wynn
Having been put through the ringer over the past three years amid multiple regulatory inquiries into historical compliance failures, Australia’s Crown Resorts is finally nearing the finish line of its long redemption story.
With a new Board of Directors, new executive team and even a new owner in place following The Blackstone Group’s AU$8.9 billion (US$6.5 billion) acquisition last year, the company is set to find out in early 2024 whether it has done enough to win back its casino license.
Much credit must go to Ciarán Carruthers for the transformation. Brought in by Blackstone due to his extensive experience and strong reputation within the competitive Macau market, Carruthers has worked hard to ensure Crown ticks all the boxes by strengthening compliance and responsible gambling teams, and overseeing the introduction of cashless gaming and mandatory carded play, due to be in place by December. A new branding campaign was launched in September.
But it hasn’t been easy. Crown has now copped fines totaling AU$250 million (US$172 million) for its past transgressions and recently reached a AU$450 million (US$293 million) settlement with financial crimes watchdog AUSTRAC.
On a positive note, Blackstone has vowed to invest “hundreds of millions of dollars” to revamp Crown’s Australian resorts, with a particular focus on the ageing Crown Melbourne. That will be welcome news to Carruthers, who spent 20 years in Macau’s world-class resorts including stints with Galaxy Entertainment Group, at Sands China’s Venetian and Plaza, and as Chief Operating Officer of Wynn Macau Resort.
For the full list of 2023 Asian Gaming Power 50 winners, click here.
