As part of a massive restructuring, Crown Resorts is laying off roughly 1000 employees from its casinos in Perth, Sydney, and Melbourne.
Crown, which employs about 20,000 people across three locations and is owned by American investment firm Blackstone, will lose about 5% of its workforce as a result of the move.
The reductions occur in the weeks immediately following Crown's full casino licenses for Sydney and Melbourne, which were awarded after years of closely monitored operations due to allegations of money laundering throughout the company.
According to the CEO, Crown will continue to fulfill its regulatory obligations despite the job losses.
Restrictions on gambling and looser economic conditions, he claimed, were to blame for the restructuring.
Crown, which employs about 20,000 people across three locations and is owned by American investment firm Blackstone, will lose about 5% of its workforce as a result of the move.
The reductions occur in the weeks immediately following Crown's full casino licenses for Sydney and Melbourne, which were awarded after years of closely monitored operations due to allegations of money laundering throughout the company.
According to the CEO, Crown will continue to fulfill its regulatory obligations despite the job losses.
Restrictions on gambling and looser economic conditions, he claimed, were to blame for the restructuring.