Crown Resorts cuts 1000 jobs as tourism and gambling slide

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Crown Resorts is cutting about 1000 jobs from its three casinos following a tightening of gambling restrictions and drop in tourists.

The cuts amount to five per cent of the total workforce of more than 20,000 people. Melbourne will bear most of the job losses with Sydney and Perth also affected.

The move by owners Blackstone comes after the granting of full casino licences in Melbourne and Sydney following a regulatory clamp down over money laundering practices.

“The challenges at Crown reflect greatly reduced foreign tourism, a sharp decline in local workers in the city centres and restrictions on gaming play in Sydney and Melbourne,” said chief executive Ciaran Carruthers.

“We are committed to our regulatory obligations and ongoing transformation, including Crown PlaySafe, Melbourne and Sydney Transformation Plans and ongoing remediation in Perth.

“This was a difficult decision, but we are focused on repositioning the business for long-term success.”