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Crown Sydney CEO Simon McGrath to step down in September

News Land-Based 26 Aug 2022

Crown Sydney CEO Simon McGrath to step down in September

By Gambling Insider

Crown Sydney Chief Executive Simon McGrath will resign next month, according to Australian media reports.

The casino boss and group head of hospitality will step down in September, Crown confirmed, after his appointment was announced late last year.

Crown Resorts new owner, Blackstone, will reveal his replacement “soon.” The company’s chosen candidate will, according to the Australian Financial Review, likely come from Macau.

Importing another executive from the Asian gambling hub would align with Crown Resorts’ recent appointment of Ciarán Carruthers as CEO. Prior to joining the company, he served as COO at Wynn Macau.

Meanwhile, McGrath’s other role as group head of hospitality will reportedly go unfilled as Blackstone looks to shake up Crown Resorts.

But for now, the company bid McGrath a fond farewell, commenting on his contributions to the business. In particular, a spokesperson touched on the recent opening of Crown Sydney’s VIP casino.

“Simon has made an important contribution to Crown Sydney during his time as CEO, including overseeing the successful opening of Australia’s only VIP members-only casino, and we wish him all the best for the future,” the spokesperson said, as reported by the Sydney Morning Herald.

In June, Blackstone completed an AU$8.9bn (US$6.2bn) acquisition of Crown Resorts following shareholders’ approval in May.

Regarding Blackstone’s takeover, former CEO Steve McCann, shortly before his resignation was announced, commented: “With Blackstone’s investment and expertise, we’re confident Crown will cement its place on the global stage as one of the world’s leading owners and operators of integrated resorts.”

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