Key points:
- Crown Resorts has reached an agreement to sell Crown London to Wynn Resorts, with completion expected in the second half of 2025
- The sale aligns with Crown’s focus on enhancing its Australian properties and delivering improved guest experiences
- Wynn Resorts will assume control of Crown London following regulatory approvals and a transition process
Crown Resorts has confirmed its agreement to sell Crown London (Aspinalls) to Wynn Resorts, a move designed to support the company’s strategic focus on its core operations in Australia.
The sale, which is contingent on regulatory approvals, is anticipated to close in the second half of 2025.
The decision reflects Crown’s commitment to refining its business strategy by concentrating on its properties in Melbourne, Perth and Sydney.
CEO David Tsai stated: “The sale of Crown London aligns with our strategy to invest in our Australian assets and customer offering to deliver sustainable growth for the business in our core market.”
This announcement comes shortly after Tsai’s appointment as CEO in November 2024. Since joining Crown, Tsai has reportedly been instrumental in advancing reform initiatives, particularly at Crown Perth and has focused on customer experiences at Crown’s Australian resorts.
Good to know: Crown acquired the London property in 2011, but its sale marks a shift towards strengthening domestic operations
The sale of Crown London also coincides with Crown’s broader operational adjustments, including significant workforce reductions earlier in 2024 due to economic challenges and tightening regulations within Australia’s gambling industry.
For Wynn Resorts, the acquisition represents an opportunity to expand its global footprint by adding a new property to its portfolio.
Further updates on the transition process and Crown’s domestic growth initiatives are expected in the coming months.
