Blackstone had big plans for Crown Towers. They haven’t materialised
Blackstone spent $8.9bn on Crown Resorts in 2022 and promised investment. Crown Towers is now in desperate need of a glow-up – and it’s starting to become a problem.
There was a time long ago when Crown Resorts was likened to the famous Ritz hotel in London. The year was 1997 and American casino mogul Steve Wynn had just watched his friend Lloyd Williams launch a luxury casino hotel complex in the heart of Melbourne.
Wynn had provided plenty of assistance, including the architect Joel Berman. But the result was something he’d never seen.
Zoe SamiosBusiness reporterZoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian. Connect with Zoe on Twitter. Email Zoe at zoe.samios@afr.com
Ayesha de KretserSenior reporterAyesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au
