Crown’s Barangaroo Casino to be Open Within Weeks

Reading Time: 2 minutes

 

Crown Resorts’ casino at its new Barangaroo property in Sydney is likely to be open on a conditional basis within weeks, the New South Wales regulator said.

The Australian operator opened the new resort in December 2020, but was unable to open the gaming floors after being found to be unsuitable to hold a license in the state following revelations of money laundering and widespread corporate governance lapses in its casinos.

“It is anticipated that the Authority may permit Crown to commence gaming on a conditional basis in the next few weeks,” a spokesperson for the Independent Liquor & Gaming Authority was cited as saying by local media.

“While the Authority has not changed its assessment that Crown is unsuitable to hold a restricted gaming licence until it has addressed the significant issues arising from the Bergin Inquiry, commencement of gaming on a conditional basis will contribute to assisting the Authority to assess Crown’s progress towards suitability.

“At this time, it is not possible to advise when a final determination regarding suitability will be made.”

Crown has replaced its board of directors and overhauling its corporate procedures in the fields of financial crime, risk, compliance and responsible gaming. Reporting its half year results on Feb. 17, the company said that the cost of those teams in Melbourne and Perth was some $30 million higher than it had been in 2019.

“While we do not underestimate current headwinds facing Crown, there is growing confidence we have turned the corner. All three of our domestic resorts are back open, with a vaccination strategy to combat COVID-19 providing a pathway forward for our staff, the business and the wider community,” CEO Steve McCann said.

“Importantly, we continue to build momentum on our company-wide reforms, accelerating work on our remediation plan and making significant advances across multiple regulatory processes. Not only are we building a stronger business, we are working well with the regulators with a priority to deliver a safe and responsible world-class gaming operation.”

Author: Paula Allen