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Crown Resorts allowed to keep Sydney casino license
Crown Resorts has been granted permission to continue operating a casino in the state of New South Wales (NSW).
This decision follows significant operational adjustments made by the company. These adjustments, according to NSW gambling regulators, ensure that Crown Resorts complies with the law. The license for Crown Sydney, an upscale resort that was given in 2020, can now be retained by Crown Resorts.
Table games were first available at Crown Sydney’s casino in 2022, although slot machine rights are held by another company and won’t be granted until 2041.
Crown Resorts invested more than AU$200 million to enhance its management in order to address its shortcomings. This was necessary because Crown Resorts was judged to have not gone far enough in stopping criminals from exploiting its casinos for illicit activities in investigations conducted in NSW and other jurisdictions.
The American company Blackstone saw a chance to acquire Crown Resorts. For AU$8.87 billion, they purchased the business and pledged to ensure that it complies with regulations. In addition, Crown Resorts was fined around AU$680 million for failing to halt money laundering.
While Crown Sydney and Melbourne have been permitted to maintain their licenses, Crown Perth‘s future remains unclear. With a focus on addressing its issues, Crown Perth plans to submit a report to the Perth Casino Royal Commission by February 2025.
Regulators are closely monitoring Crown Sydney despite the improvements to ensure it maintains its standards. Crown Resorts’ chief executive officer Ciarán Carruthers expressed pride in the company’s progress, but added that they continue to put a lot of effort into ensuring that all of their properties adhere to safety regulations.
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