Crown Sydney CEO Exits Amidst Blackstone Reshuffle
Simon McGrath, Chief Executive Officer of Crown Sydney, will exit the firm next month following a brief stint. Crown Resorts, recently purchased by Blackstone Group, verified McGrath’s exit. Blackstone is allegedly seeking to appoint a new CEO from Macau, possibly an individual with expertise in the globe’s largest gaming center. This comes after the installation of Ciarán Carruthers, former Chief Operating Officer of Wynn Macau, as the leader of Crown Resorts.
McGrath’s exit is one element of a broader reorganization as Blackstone restructures Crown Resorts. The corporation conveyed appreciation for McGrath’s input, especially his part in the latest launch of the exclusive VIP casino at Crown Sydney.
Blackstone finalized its $6.2 billion acquisition of Crown Resorts in June.
Prior to his departure, ex-Chief Executive Steve McCann voiced his perspective on the Blackstone purchase: “Supported by Blackstone, Crown Resorts is well-positioned to transform into a worldwide leader in the resort and gaming sector. Their financial commitment and knowledge will be essential as we strive to strengthen our standing as a premier destination for leisure and hospitality globally.”
