Worrying signs for Crown Resorts, with royal commission announced into Melbourne casino

Melbourne, Victoria, Australia, May 31 20219:Crown casino Business sign Australia

The Victorian government has announced the establishment of a royal commission into Crown Resorts’ suitability to hold its Melbourne casino licence.

The royal commission comes in the wake of the NSW Independent Liquor and Gaming Authority’s (ILGA’s) decision to deem Crown unsuitable to hold a casino licence for its new property in Sydney’s Barangaroo precinct.

The NSW ILGA’s decision was based on damning findings from an inquiry commissioned by the state’s gaming regulator.

Since receiving the report from the NSW ILGA, the Victorian government said it has taken advice about the most appropriate way to proceed investigating Crown Melbourne over its casino licence.

The state government said the royal commission “will ensure the most appropriate access to information regarding Crown Melbourne’s suitability to hold the casino licence, given the commission’s powers to compel witnesses and documentation”.

“This is about making sure that those who hold a casino licence in Victoria uphold the highest standards of probity and integrity – and that they’re accountable for their actions,” Victorian Premier Daniel Andrews said.

Raymond Finkelstein QC will serve as commissioner and chairperson of the royal commission and will hand down his recommendations by 1 August 2021.

Crown’s executive chairman, Helen Coonan – who’s now being paid an additional $1.8 million per annum, bringing her total salary to $2.5 million – said the company welcomes the royal commission brought on by the Victorian government.

“It provides an opportunity to detail the reforms and changes to our business to deliver the highest standards of governance and compliance, and an organisational culture that meets community expectations,” she said.

“Victorians should be assured we recognise the responsibility placed on us by the community, governments and regulators and we will fully cooperate with the royal commission.”

Image source: iStock/Kokkai Ng

The casino operations at Crown Perth are also under threat, with the Gaming and Wagering Commission of Western Australia announcing last week that it will formally recommend that an independent inquiry be established in light of the NSW ILGA’s inquiry report.

Crown said it will fully cooperate with the inquiry and continue to engage with the WA’s Gaming and Wagering Commission on its reform agenda, as well as any further remedial steps identified in response to the NSW ILGA inquiry.

Earlier this week, the company farewelled yet another board director, with Harold Mitchell announcing his immediate resignation.

Furthermore, Mary Manos has stepped down from her role as Crown’s general counsel and company secretary, with chief financial officer Alan McGregor being appointed as the group’s interim secretary.

And, to make matters worse for Crown, the company suffered a $120.9 million loss in the first half of the 2021 financial year.


Featured image source: iStock/robb1037

Latest News

  • Aviation

Low-cost Indian carrier SpiceJet continues to burn cash

It’s not just low-cost Australian carriers that are facing hardship. SpiceJet, India’s version of Bonza, recently announced a 72 per cent reduction in its net loss versus last year. But, despite this improvement, the airline has posted losses for six straight years. But it has secured board approval to raise up to INR 30 billion […]

  • Attractions

SAKA Museum recognised in TIME magazine’s World’s Greatest Places 2024

AYANA Resort Bali’s newly-opened cultural and events centre, SAKA Museum has been recognised in TIME magazine’s World’s Greatest Places list for 2024. Part of AYANA Bali’s resort destination, the museum integrates Bali’s rich history with state-of-the-art facilities, making it the centrepiece for the island’s spiritual and cultural heritage. TIME magazine’s inclusion of SAKA Museum in […]

  • Cruise

Silversea taps Barbara Biffi as senior vice president for global sales

Ultra-luxury and expedition cruise travel brand, Silverseas, has announced Barbara Biffi as its new senior vice president of global sales. Biffi joined the company in 2007, holding numerous positions and gaining a deep understanding of the brand, the preferences of its guests and its strategic goals, the company said. An Italian national with a wealth […]

  • Technology
  • Travel Agents

Amadeus welcomes FCM Travel as new reseller partner of Cytric Easy

Cytric Easy, the travel management tool embedded in Microsoft Teams, is to be integrated into FCM Travel portfolio. Amadeus and FCM Travel have extended their Cytric distribution agreement to include Cytric Easy. With this new agreement, global travel management company FCM Travel, becomes a reseller of the innovative travel management collaboration solution embedded into Microsoft […]