Crown’s hotel and casino complex in Melbourne. Source: Jason Reed/Reuters.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Crown Resorts (CWN) announces Crown Melbourne CEO Xavier Walsh will “cease his role” in two weeks
  • This announcement comes just before the Victorian Royal Commission into the state’s casino operator resumes
  • Mr Walsh joined the company in 2008 and became the CEO of Crown Melbourne in December 2020
  • Crown will announce an interim CEO after consultation with Victorian authorities
  • On the market, Crown is up 1.23 per cent, trading at $9.04 per share

Crown Resorts (CWN) has announced Crown Melbourne CEO Xavier Walsh will stand down from his role.

This announcement comes just before the Victorian Royal Commission into the casino operator resumes.

Today, Crown announced Mr Walsh will “cease his role” in two weeks. However, he will be able to assist the company until December 9.

Mr Walsh joined the company in 2008 and became the CEO of Crown Melbourne in December 2020.

Crown will announce an interim CEO after consultation with Victorian authorities.

Earlier this year, the Royal Commission was launched into Crown’s Victorian operations, following a report that found Crown not suitable to hold a casino licence in NSW.

Last week, former member of the Crown board John Poynton was called as a witness to the Perth Casino Royal Commission.

Crown Perth is similarly being investigated for money laundering, junket operations, Crown’s reporting of suspicious transactions and its management of problem gambling.

The commission is also looking to find out if Crown Perth allowed junket operators and participants to continue to visit the casino even after being banned from the casino in Melbourne.

On the market, Crown was up 1.23 per cent, trading at $9.04 per share at 12:18 pm.

CWN by the numbers
More From The Market Herald

" Appen (ASX:APX) positioned to weather pandemic, reaffirms guidance

Data annotation and artificial intelligence company Appen (ASX:APX) has today reaffirmed its guidance for the 2020…

" Appen (ASX:APX) beats earnings guidance, outperforms a weak market

Data annotation and artificial intelligence specialist Appen (APX) has soared today after beating its earnings guidance…
Appen (ASX:APX) - CEO, Mark Brayan

" Appen’s (ASX:APX) shares rise on business restructure

Machine intelligence company Appen (ASX:APX) has made some changes to the structure of its business.
The Market Herald Video

" Appen (ASX:APX) receives $1.17b takeover bid from Canadian tech giant

Appen (ASX:APX) has received an unsolicited $1.17 billion takeover bid from Canadian telco giant Telus International.