‘Vastly different’ Crown can keep Sydney casino licence

There has been a significant development in the world of Australian gambling as Crown, the gambling giant, has been given the green light to retain its Sydney casino licence. This decision comes after nearly three years of intensive remediation and a thorough assessment by the NSW Independent Casino Commission.

According to Commission head Phillip Crawford, Crown has undergone a remarkable transformation and is now considered “vastly different” from its troubled past. The Commission expressed confidence that organised crime groups would not be able to infiltrate operations at Crown again, following a series of misconduct revelations in a 2021 inquiry.

Surveillance of the casino’s operations will continue, but the need for oversight from financial and risk advisor Kroll has been lifted. This decision by the regulator reflects their belief that Crown is now capable of running the casino lawfully.

Amidst allegations of misconduct at rival casino The Star, Crown’s efforts to reform and rebuild have been commended. Under the leadership of former chief executive Steve McCann and private equity firm Blackstone, the gaming empire has been overhauled to prioritize transparency and compliance.

Despite previous concerns raised by the Bergin inquiry regarding potential money laundering issues at Crown, the company has made significant strides in rectifying these issues and implementing necessary reforms. The company’s commitment to compliance and transparency has been recognized by the regulator.

In a statement, Crown affirmed its commitment to working collaboratively with the Commission to ensure ongoing compliance with industry regulations. The company views its Sydney casino as the “safest place to gamble in the state” and is dedicated to upholding the standards set by the regulator.

Overall, the decision to allow Crown to keep its Sydney casino licence marks a turning point for the company, which has worked diligently to address past misconduct and rebuild its reputation. With continued oversight and a commitment to compliance, Crown is poised to operate its Sydney casino in a responsible and lawful manner.