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Challenge facing Crown’s new CEO: Packer’s legacy

Irish-born Ciaran Carruthers and American Bill McBeath are stepping into a regulatory minefield at Crown Resorts, now a subsidiary of private equity giant Blackstone.

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As expected, private equity behemoth Blackstone is calling in the casino big guns from Las Vegas and Macau to put the troubled Crown Resorts back on the straight and narrow.

Crown’s new chairman, Bill McBeath, and new chief executive Ciaran Carruthers face a mammoth task after years of poor governance, including breaches of money-laundering laws, and scant regard for the separation of James Packer’s private interests from the interests of minority shareholders.

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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com

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    Original URL: https://www.afr.com/chanticleer/challenge-facing-crown-s-new-ceo-packer-s-legacy-20220707-p5azrz