Steve McCann has been named the new Chief Executive Officer of Crown Resorts. The corporation also provided an update on its financial results and plans for reopening.
Crown Casino in Melbourne will reopen gradually, with non-gaming activities resuming on October 22nd and gaming activities resuming on November 5th. By November 19th, it is expected that all limitations will be lifted.
Meanwhile, Crown Perth reported a 9% year-over-year decline in main floor gaming income for the period from July 12th to October 17th, while non-gaming revenue climbed by 34%.
The firm also predicts increased expenses connected with continuing regulatory procedures, projecting a rise of roughly AUD 1.3 billion (USD 975 million) in corporate costs for the fiscal year 2022.
Crown Resorts has its sights set firmly on the horizon. Their primary objective is a comprehensive transformation – a restructuring strategy intended to restore confidence with regulatory bodies and the community. They are resolute in their aim to rebound from the pandemic’s impact and utilize their resources to provide enduring, responsible value for investors.
Chief Executive Steve McCann chose his words carefully in his communication to those investors. “This marks my initial opportunity to speak with you directly at the Crown Resorts Annual General Meeting,” he commenced, recognizing the significance of heading a corporation like Crown, especially amidst the current heightened examination.
McCann, having held the position for five months, conceded to a more profound comprehension of the obstacles they encounter. Nevertheless, he stressed the board and leadership’s dedication to restoring Crown’s standing and generating robust returns for investors ethically.
The solution? McCann posits it revolves around cultivating a constructive environment within Crown, one that enables personnel to propel the company’s expansion and optimize the worth of its remarkable holdings. “Our approach must evolve,” he declared unequivocally. The message is unambiguous: a new chapter for Crown has commenced.