Australian casino and hospitality giant Crown Resorts announced that its board of directors has designated the experienced John Borghetti as its new chairman.
The appointment follows William McBeath’s recent decision to step down as chair and instead focus on his NED responsibilities. McBeath was named chair in July 2022, shortly after the company was acquired by Blackstone. In his role, he leveraged gaming, hospitality and tourism expertise to transform Crown in the wake of serious regulatory hurdles.
In the meantime, Borghetti, who is set to take over as chair from July 1, 2024, will use his expertise to maintain Crown’s transformative momentum. The company was able to retain its license in Sydney and is ambitious on doing better and not allowing the previous regulatory issues to happen again.
Borghetti, according to Crown’s announcement, has some 47 years of experience in the aviation industry and, in 2017, was awarded a Member of the Order of Australia for his contributions. He is currently serving as director of Balmoral Pastoral Investments and a member of O’Connell Street Associates.
McBeath Is Certain Crown Is in Sure Hands
McBeath commented on his departure, saying that he is proud of how far Crown has come in terms of compliance. Under his guidance, both Crown Melbourne and Crown Sydney succeeded in retaining their licenses, spelling a promising future for the company.
Now that Crown’s licenses have been secured, McBeath decided that it is time for him to step down and time for Crown to appoint an Australian-based chair who will continue the transformative efforts.
I am delighted that John Borghetti will continue this critical work as Chair and lead the Crown Resorts Board in its strategic development of Crown’s businesses in Victoria, New South Wales, and Western Australia, working constructively with Government and regulators.
William McBeath, outgoing chair, Crown Resorts
McBeath lauded Borghetti as a skilled and very highly regarded individual whose experience and leadership will help Crown maintain its focus on compliance and responsible gambling while still providing cutting-edge entertainment.
John Borghetti commented on his new appointment, thanking McBeath for his hard work over the past two years. He added:
I look forward to continuing the transformation of Crown Resorts, ensuring the company exceeds the expectations of all its stakeholders, including Government, regulators, guests and team members.
John Borghetti, chair appointee, Crown Resorts
Borghetti concluded that Crown would remain focused on fostering compliance, player safety, profitability and sustainability.
