Blackstone

The NSW Independent Casino Commission has fined Star Entertainment AU$15 million after finding the company remains noncompliant, while allowing The Star Sydney to keep operating. The regulator said operations remain "far short of suitability", and a manager will stay in place until at least March 2025.

5m ago

Crown Resorts, owned by US private equity firm Blackstone, has sold the 1-29 Queens Bridge Street site in Melbourne to property group PDG. The Australian Financial Review reports the price was AU$85 million. The site was once earmarked for a 90-storey tower linked to Crown Melbourne.

5m ago

Crown Resorts chief executive Carruthers has resigned after about two years leading the casino operator through regulatory sanctions and restructuring. Media outlets report that president and chief operating officer David Tsai will take over from 1 September until a permanent replacement is found. A review of Crown's Perth operations has not yet concluded.

5m ago

The Australian Financial Review, citing anonymous sources, reported on 21 February that US casino group Bally's has emerged as a potential suitor for the troubled Star Entertainment. Bally's declined to comment. Star is already weighing several other proposals while warning of material uncertainty over its ability to continue as a going concern.

6m ago

Western Australia's Gaming and Wagering Commission has recommended that Crown Perth keep its casino licence, three years after the Burswood venue was found unsuitable. According to the report, the commission pointed to governance, anti-money laundering and harm-minimisation reforms. An independent monitor will retain access to the property.

6m ago