Tag Archives: Crown
Crown approved to retain its Melbourne licence
Crown Melbourne has retained its Victorian Casino licence following a comprehensive transformation of its business that has seen the operator invest $200m since 2021 into its transformation, introducing extensive reforms across harm minimisation, financial crime, governance, compliance, risk, and culture, which has been accelerated under new ownership and management. Guest wellbeing and harm minimisation has…
Australia – Blackstone appoints Ian Silk as Chairman of Crown Melbourne
Blackstone, the new owners of Australia’s troubled Crown Resorts has appointed Ian Silk, former boss of Australia’s largest super fund AustralianSuper, as Chairman of Crown Melbourne. Mr. Silk, who led AustralianSuper for 15 years, will be joined on the Crown Melbourne board by Helen Silver and who was previously Managing Director of consulting firm Hay…
Australia – Blackstone gets green light to operate Crown Sydney
The NSW Independent Liquor & Gaming Authority has approved funds manager Blackstone’s suitability to hold a casino licence in NSW, paving the way for the company to become the operator of Crown Sydney casino. Authority Chairperson Philip Crawford said Blackstone had been subject to an extensive probity assessment that examined its capacity to address the…
Australia – Crown hit with record fine for illegal use of China UnionPay cards
Australian operator Crown Melbourne has been hit with a record-breaking fine of AU$80m due to the illegal use of China UnionPay cards. Crown’s China UnionPay process saw Crown Melbourne let customers use credit or debit cards to access funds to gamble, to the tune of AU$164m over a four year period between 2012 and 2016. The…
Australia – Crown found unsuitable to operate in Perth but given two years to redeem itself
Crown Resorts has been told by the Perth Casino Royal Commission that it is unsuitable to be a casino operator but has been given a two-year reprieve to show it can become suitable again under the watch of an independent monitor. It gave 59 recommendations for improvement covering the boardroom set up to better responsible…
Australia – Blackstone looks to protect offer for Crown from regulatory fall-out
US private equity fund Blackstone has tweaked its $6bn offer for Crown Resorts, saying can’t lose any of its state licences before the deal is approved, and that a Blackstone-controlled Crown must be viewed as a ‘suitable’ operator by all regulatory authorities. Blackstone has left the price of its offer the same. Crown Resorts said:…
Australia – Victorian reopening task force slammed for ‘self-serving’ advice
Members of a Victorian task force including big names from the gaming industry have insisted they are not pressuring the Australian government to lift the COVID-19-enforced closures quickly, but are being supportive of government health measures to avoid outbreaks and further shutdowns. The task force, which includes Crown Resorts, Tabcorp, the Australian Hotels Association, Community…
Australia – Australian casinos introduce ‘social distancing’ rather than close gaming floors
Rather than close their casinos, Australian casino operators Crown Resorts and The Star Entertainment have introduced a minimum distance between casino customers and reduced gaming capacity by turning off every other slot machine. A minimum distance of 1.5 metres has been introduced between players including at seated table games. The operator said: “Following consultation with…
Australia – Crown continues to slip as VIP falls 46 per cent
Australian operator Crown Resorts’ AGM might have been dominated by questions concerning regulatory probes following media speculation that it flouted visa rules, but its financials painted another worrying picture. VIP sales at the company’s Australian resorts fell by 46 per cent between July and October. GGR from main floor gaming meanwhile increased by two per…
