Crown Sydney CEO Simon McGrath Exits Role After Less Than a Year

Simon McGrath, the individual leading Crown Sydney, will be leaving his position in September.

News sources in Australia share that McGrath, the chief executive of Crown Sydney, will exit his role next month.

The gaming and hospitality conglomerate verified that McGrath will depart in September, having only been designated to the position late last year.

Crown Resorts’ new proprietor, Blackstone Group, will reveal his successor “soon.” The Australian Financial Review proposes the private equity group might select an executive from Macau.

Recruiting another leader from the Asian gambling center would align with Crown Resorts’ recent selection of Ciarán Carruthers as chief executive. Prior to joining Crown, Carruthers functioned as the chief operating officer of Wynn Macau.

Concurrently, reports suggest that McGrath’s other position – director of the hotels division – will remain vacant as Blackstone aims to reorganize Crown Resorts.

Notwithstanding this, the corporation has conveyed its appreciation to McGrath, commending his input during his service. A representative specifically highlighted the recent launch of the VIP casino at Crown Sydney.

“Simon has provided a significant contribution to Crown Sydney throughout his period as CEO, including supervising the successful inauguration of Australia’s sole VIP members-only casino, and we wish him well in his future endeavors,” the representative stated, as published by The Sydney Morning Herald.

Blackstone finalized its AU$8.9 billion (US$6.2 billion) purchase of Crown Resorts in June, following shareholder endorsement of the agreement in May.

Prior to his departure, ex-Chief Executive McCann expressed his perspective on the Blackstone purchase: “We possess assurance that with Blackstone’s support and proficiency, Crown will strengthen its standing as a premier international vacation spot.”