Crown Resorts is yet to make some efforts in order to convince the Government and regulators of New South Wales (NSW) to allow it to keep its operating licence for its new casino in Sydney. At the time when Commissioner Patricia Bergin made her report public following an investigation into the gambling group’s operations, the state gambling watchdog explained that Crown Resorts would have to undergo significant changes in order to get the Barangaroo casino licence back.
The Australian gambling giant was expected to finally open the gaming floors at its AU$2.2-billion Barangaroo facility in December 2020 but it was not allowed to do so because of the findings of the then-ongoing inquiry that had found evidence of money laundering and links with criminal organisations at the company’s casinos in Melbourne and Perth.
Earlier today, the state’s gambling regulatory body – the NSW Independent Liquor and Gaming Authority (ILGA) – explained that it had decided to renew three interim liquor licences for the restaurants and bar areas at Crown Sydney that opened late in 2020, along with the accommodation services at the Barangaroo tower’s hotels.
However, the gambling watchdog confirmed that it was still considering the response of Crown Resorts to the final report presented by Commissioner Bergin as a result of her investigation. The Independent Liquor and Gaming Authority shared that it was not satisfied with what the company had done to transform into a casino operator that is suitable to keep its licence.
Earlier in April, the main investor in Crown Resorts – Australian billionaire James Packer – agreed to step back from the running of the gambling company for the following three and a half years. This happened after the inquiry of Commissioner Bergin found that he had a detrimental influence over the corporate governance of the company, leading to disastrous consequences.
Commissioner Bergin’s Investigation Finds Proof of Poor Corporate Governance at the Operator’s Casinos
Philip Crawford, chairman of ILGA has explained that there are still some detailed and complex issues associated with the transformation of Crown Resorts into a company that is fit to operate the Barangaroo casino in Sydney. He noted that the company is required to undertake significant changes in order to satisfy the authority and convince it that it is on its way to regaining sustainability and suitability to keep its casino operating licence.
Mr Crawford shared that the changes that need to be implemented by Crown Resorts into its structure and operations take time in order to be fully implemented on one hand, and for the regulatory authority to properly consider them before determining what the most appropriate course of action would be, on the other hand.
As confirmed by Helen Coonan, the current executive chair of Crown Resorts, the gambling company was still making steps through the consultation process with the NSW gambling regulator in order to get a chance and restore its casino licence for the Sydney-based project.
A series of reports about unlawful activities at Crown Resorts’ casinos in the country triggered the investigation of Commissioner Bergin in the company. The findings of the inquiry resulted in the resignation of Crown Resorts’ CEO Ken Barton and a number of other executives. Furthermore, Royal Commissions have been established in the states of Victoria and Western Australia to examine the Australian gambling giant’s suitability to keep its operating licences for the venues in Perth and Melbourne.
- Author
Olivia Cole
