David Tsai begins role as Crown Perth CEO
Tsai will lead Crown Perth’s remediation action plan and work with newly appointed independent monitor Paul Steel.
Australia.- David Tsai has formally taken up his role as Crown Perth’s CEO following Crown Resorts’ announcement of his appointment in October. He took part in a traditional smoking ceremony led by Noongar man Dr Richard Walley OAM on Crown Perth’s Great Lawn.
Tsai spent over 15 years with global hotel and entertainment group MGM Resorts International. He will lead Crown Perth’s recovery action plan and work with the newly appointed independent monitor Paul Steel to implement the recommendations of the Perth Casino Royal Commission.
Crown Resorts CEO Ciarán Carruthers said: “David is well placed to lead Crown Perth through its next phase and steps into the role as CEO at a pivotal moment in its history.
“David’s passion for instigating true cultural change will have an enormous effect and I look forward to working with him and the team at Crown Perth to create exceptional experiences for our guests in Western Australia.”
Tsai said: “Today is the start of a wonderful journey for me at Crown Perth, and I couldn’t be more excited to be here. Across the industry, Crown Perth stands proud as a world-class property, with premium restaurants, luxury accommodations and exceptional entertainment.
“I am deeply committed to delivering on our reform and remediation plan and cultural transformation, and ensuring Crown achieves its ambition of becoming a world leader in the delivery of safe and responsible gaming and entertainment.
“I’m privileged by the opportunity to lead our more than 6,000 team members at Crown Perth and share in their understanding and passion for creating exceptional experiences for our guests.”
Crown Resorts posts loss of US$632.18m for FY22
Crown Resorts has shared its financial results for the financial year 2022. It’s reported an AU$945.4m (US$632.18m) loss while earnings before interest, tax, depreciation and amortisation (EBITDA) was negative AU$699.6m.
Revenue was up 20 per cent year-on-year to AU$1.9bn (US$1.27bn). Crown Melbourne’s revenue increased from AU$567.5m to AU$923.8m and Crown Sydney’s from AU$68.4m to AU$113m, while Crown Perth’s revenue fell from AU$740.9m to AU$731.7m.
Crown Sydney’s gaming floor was not operational during 2022. The casino operator was allowed to open the casino in August.
The company attributed the poor performance to a number of factors, including multiple fines due to inquiries into its casino operations. Covid-19 lockdowns in Perth, Sydney and Melbourne added to the losses.
