Blackstone has successfully finalized the acquisition of Crown Resorts, marking a significant investment in the company. This substantial purchase encompasses the luxurious Crown establishments in Melbourne, Perth, and Sydney, underscoring Blackstone’s dedication to the Asia-Pacific market.
Alan Miyasaki, the head of real estate investments for Blackstone in Asia, expressed enthusiasm about the deal. He is optimistic that their proficiency will transform Crown Resorts into a premier tourist destination. Miyasaki revealed that they recognized Crown’s capabilities years ago during their initial investment, commending the company’s committed workforce. Blackstone aims to collaborate with the current team to elevate the resorts into world-class entertainment centers, emphasizing their adherence to high ethical principles and responsible business practices.
Steve McCann, the chief executive of Crown Resorts, views this as a revitalizing opportunity for the company and its 20,000 staff members. This signifies a new era for Crown Resorts under Blackstone’s ownership.
Crown Resorts has experienced a tumultuous period recently, but we believe that under Blackstone’s leadership, they are poised to provide an exceptional entertainment offering with an emphasis on ethical gaming practices.
Australia’s travel sector is rebounding, and we hold a positive outlook for the times ahead. Crown has cultivated a devoted clientele over the past 28 years due to its remarkable collection of establishments. It’s wonderful to witness the revitalization of Melbourne and Perth, and we’re delighted to incorporate Sydney into the Crown fold. The horizon appears promising!
With Blackstone’s support and proficiency, Crown is strategically situated to cement its standing as an international frontrunner in the integrated resort domain. We envision them ascending to the ranks of the world’s premier operators.
