Singapore High Court s ruling on overlapping arbitration and jurisdiction clauses | Bryan Cave Leighton Paisner jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
February 18, 2021
The value of individual shares in Crown Resorts Limited increased slightly earlier today despite the Australian casino operator having publicized an overall loss of around $93.5 million for the six months to the end of December.
The Sydney-listed firm used an official press release (pdf) to detail that the 155% comparable drop in half-year earnings was accompanied by an analogous 62.1% decline in aggregated revenues to about $449.4 million. The company moreover explained that this came as its Crown Melbourne facility recorded a steep 90.5% decline in six-month receipts to about $75.2 million with its sister Crown Perth venue having copped a less drastic 5.3% diminution to roughly $316.8 million.
The findings from this inquiry have cast real doubt upon Crown Resorts' suitability to hold a gaming licence in New South Wales. It remains to be seen how the Victorian and Western Australian governments will react, given that Crown currently operates casinos in both states.
Victorian Government under pressure over Crown Casino after NSW inquiry
TueTuesday 9
updated
MonMonday 22
FebFebruary 2021 at 5:26am
Space to play or pause, M to mute, left and right arrows to seek, up and down arrows for volume.
Watch
5
Share
Print text only
Cancel
Victorian Premier Daniel Andrews has defended the state s gambling watchdog after a scathing New South Wales inquiry found Crown Resorts was not suitable to hold a casino licence in that state.
Key points:
Mr Andrews says changes will be made to the Victorian Commission for Gambling and Liquor Regulation if they are needed
But he says the Government needs the time to read the thing after the report was handed down
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.