Crown Resorts chief executive Ciaran Carruthers has revealed up to 1000 people will be made redundant in a major restructure following a lack of customers in its Melbourne, Sydney and Perth casinos due to stricter regulations and the cost-of living-crisis.that the cuts were looming, but wrote to staff to confirm the changes on Monday morning, as reported by. Crown employs more than 20,000 people and is one of the biggest employers in the states in which it operates.
Private equity group Blackstone bought Crown for $8.9 billion in 2022 after Crown was disgraced by two royal commissions into its operations that found extensive anti-money laundering and counterterrorism failings across the business, first raised by an investigation by this masthead andCrown regained suitability to operate its casinos in Melbourne and Sydney this month, and is now charged with ensuring the business is sustainable economically.
Crown Sydney, which does not have poker machines and was designed to be a high-roller focused casino, made 275 people redundant and closed one of its two gaming floors in August, just one year into its operations.The second gaming floor had been anticipated to reopen this year but Carruthers said this was unlikely to happen until trading picked up.