Market places bet on the future of Crown Resorts boss Steve McCann

When Blackstone buys Crown Resorts, one question being asked is what will be the future for the casino operator’s boss Steve McCann?

Most believe that Blackstone would want to install its own management team, but exactly who stays on with the casino operator and owner should the deal gain shareholder support in a vote before June 30 and regulatory approval is yet to be determined.

It is worth remembering that to improve the Las Vegas-based Cosmopolitan hotel that Blackstone sold for a mammoth price last year, it brought in a new management team.

But Mr McCann is shaping up to be a winner no matter how Blackstone rolls the dice.

When hired by Crown last year, the company agreed to pay him $5.6m if it changed hands, and with $2.5m in pay, he collects $7.9m if Blackstone buys the business.

In terms of his next step, there are a number of options for the former long-time Lendlease chief executive who is known to be someone who is passionate about the gambling industry.

It is worth remembering that Mr McCann was one of the candidates being considered for the top job at Tabcorp last year after the announcement of David Attenborough’s departure.

Mr Attenborough had committed to stay on until the demerger of Tabcorp’s wagering arm, slated for July or August, before replacements come in to run the split businesses.

However, some believe that Mr McCann would be unlikely to want to take on another company only for it to be taken out by a buyer, and the talk in the market is that parties will almost certainly bid for both parts of Tabcorp once the demerger is completed.

The decision to split did, after all, follow bids for the Tabcorp business last year from Entain, Apollo Global Management and Matthew Tripp.

Then there is the listed real estate sector where a number of CEOs of the largest groups have held the top job for some time and many believe there are businesses due for a management refresh.

Real estate investment firm GPT Group cannot be ruled out as one of the groups that could see more changes at the top of its ranks, and Mr McCann may be keen to take on the job there if the price is right.