GGRAsia – Aristocrat CFO Toni Korsanos to join Crown Resorts board

Aristocrat CFO Toni Korsanos to join Crown Resorts board

Nov 21, 2017 Newsdesk Industry Talk, Latest News

Toni Korsanos, currently chief financial officer of Australia-based slot machine maker Aristocrat Leisure Ltd, is to become a non-executive director of Australian casino operator Crown Resorts Ltd.

The announcement was made by Crown Resorts in a Tuesday filing.

“Ms Korsanos will join the board of Crown Resorts once her existing commitments at Aristocrat Leisure cease and upon the receipt of all necessary regulatory approvals,” the firm stated.

Aristocrat had announced in July that Ms Korsanos would step down from her role in March 2018.

The firm said at the time that the post of chief financial officer would “relocate from Sydney to Aristocrat’s Las Vegas operations from March 2018” as part of the decision to have company chief executive Trevor Croker based in North America. The same release added that Ms Korsanos had decided not to relocate to Las Vegas for “family reasons”.

The executive joined Aristocrat in 2007 as general manager of group finance. She was appointed chief financial officer in 2009.

Crown Resorts, a firm based in Melbourne, Victoria, additionally said that Jane Halton, a former Secretary of the Australian federal government’s Department of Finance, would also be joining the casino operator as non-executive director.

Quoted in the filing, Crown Resorts’ executive chairman John Alexander said Ms Korsanos had “extensive experience in the gaming industry”. She would also bring to the board “experience in the areas of technology, finance, strategy, risk management and financial and regulatory compliance,” he added.

Crown Resorts’ results have been hit by a reduction in the scope of the company’s international operations, which had occurred subsequent to the arrest of a number of its employees in mainland China on allegations of “gambling-related crimes”. Those detained included some key personnel from Crown Resorts’ international VIP business.