Crown’s big win with licence
Crown Resorts will be allowed to continue operating its Melbourne casino after the Victorian gambling regulator deemed Crown suitable to retain its gaming licence.
Crown’s suitability to hold the licence had been under review following findings of a 2021 Victorian royal commission that revealed the company facilitated money laundering and permitted people with links to organised crime syndicates to gamble at its premises.
The probe found that Crown was “unsuitable” to hold its gaming licence after it engaged in “illegal, dishonest, unethical and exploitative” conduct.
While Victoria’s Gambling and Casino Control Commissioner Fran Thorn said Crown previously breached governance rules; had an absence of appropriate risk management; and demonstrated a culture of prioritising profits ahead of safety, she said the state watchdog would permit Crown to operate again.
“The commission today announced that it is clearly satisfied that Crown Melbourne is suitable to operate the Melbourne casino and that it is in the public interest for the licence to remain in force,” Ms Thorn said on Tuesday.
“In return for an exclusive licence, Victorians have the right to know Crown will never again prioritise profits over public safety.”
Ms Thorn warned that the regulator would not hesitate to take action if needed in future.
“The significant turnaround by Crown Melbourne does not mean that Crown Melbourne will never slip up again, and when this happens, we will act and we expect Crown Melbourne to act,” she said.
After the probe, royal commissioner Ray Finkelstein recommended Crown be given two years to reform itself under a government-appointed “special manager”. He also ordered former major shareholder James Packer to sell down his 37 per cent stake in the company to less than 5 per cent by September 2024.
A separate royal commission into Crown’s Perth casino found it was unfit to hold a gaming licence in WA, while a NSW inquiry found Crown facilitated money laundering through its Sydney casino.