Crown Resorts says Australia the priority after flogging London private gaming club
Crown Resorts will offload its upmarket, members-only gambling club in London to US casino giant Wynn Resorts to direct more cash into operations in Perth, Melbourne and Sydney.
Crown chief executive David Tsai said selling Crown London aligned with the private equity-owned group’s strategy to “invest in our Australian assets and customer offering to deliver sustainable growth for the business in our core market.”
“Our priority is to deliver new and elevated experiences for our guests in Melbourne, Perth, and Sydney in line with our strategy to be the leading entertainment destinations in Australia.”
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By continuing you agree to our Terms and Privacy Policy.A deal value was not disclosed.
It comes as Crown struggles to regain pre-pandemic momentum following three damning State inquiries, more subdued international tourism and the loss of high rollers.
Crown — owned by US private equity giant Blackstone — posted an improved $164.8m loss in the year to June 30, down 17 per cent from the year earlier’s $199.4m loss. Revenues from its flagship Melbourne hub fell during the year, but grew in Perth and Sydney.
Crown London — formerly known as Aspinall’s Club, established in the 1960s — features a private gaming club and restaurant and sits within the upscale Mayfair district.
Crown Resorts bought the club in 2011 and had reportedly been considering selling the asset for some months.
The sale to Nevada-based Wynn Reorts is set to be completed in the second half of 2025.
Originally published as Crown Resorts says Australia the priority after flogging London private gaming club
