Crown Resorts appoints new CFO amid public inquiry

Crown Resorts appoints new CFO amid public inquiry

Crown Resorts has announced the appointment of Alan McGregor as its new CFO, subject to the receipt of any necessary regulatory approvals.

McGregor has been with Crown Resorts for 15 years, holding a number of senior financial positions.

In 2014, he was appointed CFO of the operator’s Australian resorts.

The move comes amid a public inquiry into allegations that Crown Resorts is linked to organised crime.

The investigation, which centres around the operator’s use of paid-for trips to attract high-spending gamblers, is assessing whether junkets might have been used for money laundering purposes.

Ken Barton, Crown Resorts CEO, said: “I am delighted that Alan McGregor has agreed to take on the role of Chief Financial Officer of Crown.

“His deep technical experience along with his experience in the hospitality, gaming and entertainment industries strongly align with this role.

“Alan will play a key role in supporting the board and me in implementing Crown’s strategy and I look forward to working with him.”

In January, Crown Resorts announced John Alexander would be stepping down as the company’s Executive Chairman, with former CFO Ken Barton promoted to the role of CEO.

Crown Resorts revenue was AU$1.46bn (US$977.8m) for the six months ending 31 Dec 2019, down 5% year-on-year.

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