Blackstone Group, the private equity company that has acquired Crown Resorts, the biggest casino operator in Australia, has announced that it is ready to invest large amounts of money into the upgrade of Crown Melbourne.
The announcement was made by John Gray, the President of Blackstone Group, in an interview with The Australian. The United States company purchased Crown Resorts for 8.9 billion Australian dollars in 2022 after the Australian company ran into several problems with regulators in New South Wales, Victoria and Western Australia.
John Gray revealed during the aforementioned interview that he believed Crown Resorts could be transformed into one of the world’s leading casino operators during the coming years, but for that to happen the company would need to invest into its operation in Melbourne.
The Blackstone president described Crown Melbourne as ““truly one of the kind, given its scale” and added that the company’s main objective is to “invest significant capital” into the flagship venue in order to enhance it.