February 9, 2021
In Australia and the official inquiry looking into the license suitability of casino operator Crown Resorts Limited has reportedly returned with a damning verdict that could well see the firm forced into making sweeping changes to its leadership and the way it is run.
According to a report from The Guardian newspaper, the New South Wales Independent Liquor and Gaming Authority investigation was conducted by former New South Wales Supreme Court Judge Patricia Bergin and found that the Melbourne-headquartered company was currently not fit to hold a gambling license for its Crown Sydney development. This $1.5 billion venue purportedly opened in the harborside Barangaroo district of Australia’s largest city late last year although missing a VIP-facing casino that was due to feature a selection of almost 500 gaming tables.
Victoria Fast-Tracks Crown Gaming Review Following Money Laundering Revelations at NSW Inquiry
Beleaguered gaming group Crown Resorts has been dealt another blow with the Victorian state government announcing it will fast track a review of its gaming license by two years.
This will be the seventh review of the casino operator by the Victorian Commission for Gambling and Liquor Regulation (VCGLR), which was originally slated for 2023.
In recent months, the New South Wales Independent Liquor and Gaming Authority has uncovered alarming management issues (between Chairman James Packer and the executive team), as well as major money-laundering issues.
It follows a joint investigation by Nine media alleging Crown turned a blind eye to money-laundering at Crown’s Melbourne and Perth properties, and the exploitation of Australia’s visa system to fast-track visas for Chinese high-rollers.
$1.6 billion development for the harborside
Barangaroo district of Australia’s largest city from December 14 following around 50 months of construction. The new venue was also due to premiere
complete with a casino featuring some 120 gaming tables but had its long-term future placed in danger earlier this year via the initiation of the inquiry looking into
its parent’s suitability to continue holding a gambling license for New South Wales.
Possible punishment:
New South Wales Independent Liquor and
Gaming Authority is to reportedly begin deliberations on the longer-term future of Crown Resorts Limited in the country’s most populated state from early-February following the publication of the interim findings of the ongoing examination. The Melbourne-headquartered casino firm could then purportedly