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Victoria government pushes back Crown inquiry deadline 11th June 2021 | By Nosa Omoigui The Government of the Australian state of Victoria has extended its time frame to complete a Royal Commission which will determine whether Crown Melbourne can hold a licence in the state. The initial August deadline has been pushed to 15 October 2021. Crown said it remains fully co-operative in relation to the Royal Commission, chaired by Raymond Finkelstein QC. Crown’s executive chairman Helen Coonan said: “As Executive Chairman, I have made clear that any shortcomings identified by the Royal Commis...

It was Crown’s casual approach to the welfare of chronic gamblers that drew some of the most damaging admissions of the inquiry so far.

Crown ordered to pay AU$22.5m following Bergin Inquiry 13th May 2021 | By Marese O'Hagan Crown Resorts Melbourne has been ordered to pay a total of AUD $22.5m (£12.4m/€14.4m/$17.3m) as part of measures set out by the New South Wales Independent Liquor and Gaming Authority (IGLA). Crown must pay $12.5m towards the inquiry itself, and also pay an annual Casino Supervisory Levy of $5.0m in both FY2021 and FY2022, after the regulator found Crown “unsuitable” to operate a casino in the Barangaroo district of Sydney in February. The operator may pay a further levy in FY2023, but this is “s...

Published May 13, 2021 Dive Brief: Lendlease CEO Steve McCann will retire from the company at the end of the month and assume the role of CEO and managing director of Australian gaming and entertainment company Crown Resorts on June 1, Lendlease announced Monday. McCann will also step down from the Lendlease board of directors. He joins Crown at a crucial point, as firms bid to buy the gaming company while regulators investigate its business practices and threaten to rescind its casino licenses.  Lendlease announced in February that McCann was retiring and that Tony Lombardo, current...

Crown, revealing the details to the ASX, said the board of the merged entity would initially comprise the current directors of each of Crown and Star. Star has stated it estimates that a merger with Crown would result in indicative cost synergies of between $150m and $200m per annum. Star has also indicated there is the potential to unlock significant value from a sale and leaseback of the merged entity’s property portfolio. The Star offer has now sparked a serious bidding war for the casino group, which could yet see other players emerge. Simultaneously, Crown announced it had received an ...