Thursday, January 20, 2022

Crown Resorts Melbourne boss Xavier Walsh to step down

Crown Resorts chief executive Xavier Walsh will step down on August 20, as Victoria’s Royal Commission into the state’s casino operator resumes.
The sudden announcement from the casino giant was confirmed with a statement to the ASX this morning.
The statement said Mr Walsh, who joined Crown in 2008, will “cease his role” as Crown Melbourne chief executive in just over two weeks.
“Mr Walsh will remain available to assist the company until his employment at Crown ends on 9 December,” the statement said.
Crown said it would announce an interim appointment to replace Mr Walsh following consultation with the Victorian Commission for Gambling and Liquor Regulation.
In March the Victorian government announced it would launch a Royal Commission into Crown Melbourne.
Crown and Crown Melbourne have lodged their written closing submissions with the Victoria Royal Commission.
Crown said its “detailed written closing submissions” would be made available on the Royal Commission website in the coming days.
Victoria has also announced it will establish a new casino and gambling regulator, including a division which will focus solely on Melbourne’s casino operator.
Today’s announcement will see Mr Walsh follow former Crown director Harold Mitchell out the door.
Mr Mitchell stepped down in February when the Royal Commission into Crown Resorts was launched, determining if it is suitable to hold a casino licence in the state.
In May Crown Resorts has rejected an $8.4 billion takeover bid from US private equity firm Blackstone.

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