The Board of Crown Resorts Limited (Crown) recently announced that Mr. John Borghetti AO will take over as Chair of the integrated resort and entertainment group on July 1, 2024. This announcement follows Mr. William McBeath’s decision to step down as Chair, however he will remain an independent non-executive director of Crown Resorts Limited.
Significant Leadership Transition
Mr. McBeath took over as Chair in July 2022, following the company’s acquisition by Blackstone, and brings extensive experience in the worldwide gambling, tourism, and hospitality industries. During his tenure, Crown Resorts underwent one of the most significant revolutions in Australian company history.
In a statement, Mr. McBeath highlighted his delight in managing Crown Resorts’ regulatory and cultural reform initiatives, as well as the success made in remediation activities at multiple locations. He emphasized the importance of keeping operational licenses and remaining committed to compliance and honesty.
Continued focus on transformation and compliance
Crown Resorts’ new Chair, John Borghetti, intends to continue the company’s journey of change, regulatory compliance, and sustainable growth. Mr. Borghetti’s remarkable background in operational leadership and governance prepares him to lead Crown Resorts into its next chapter of expansion.
Mr. Borghetti expressed gratitude for Mr. McBeath’s leadership during a time of considerable transition and reaffirmed the Board’s commitment to exceeding stakeholder expectations. The company’s goal remains on operating ethically, improving the overall guest experience, and preparing itself for future success.
Future Outlook and Growth Strategy
Crown Resorts’ future focus will be on sustaining compliant and profitable operations while cultivating an innovative and excellence-driven culture. Under Mr. Borghetti’s leadership, the Board is set to promote strategic growth across Crown lands in Victoria, New South Wales, and Western Australia, working with government and regulatory organizations.
The leadership change marks the beginning of a new era for Crown Resorts, one distinguished by a firm dedication to operational integrity, prudent expansion, and exceptional entertainment experiences for guests. Crown Resorts’ Board of Directors, executive leadership team, and dedicated personnel are working together to move the company into a wealthy and sustainable future.