Australia: Crown Melbourne Gets to Keep Casino License
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Crown Melbourne will be under strict government supervision for two years.
Crown Resorts will keep its Melbourne casino license. The state government accepted the findings of the royal commission. It will fall under strict supervision for two years. Lawmakers deemed it an unprecedented step in Australian corporate oversight.
Radio journalist Roshai Murdoch shares Crown's vow to reform and its acceptance of the 33 recommendations for change.
Victoria government gave Crown Melbourne two years to reform itself. Stephen O’Bryan QC will take on the role of special manager overseeing Crown. O'B Bryan will be the state's first holder of the position of Independent Broad-Based Anti-Corruption Commissioner. He will have access to all areas of Crown and its books and records. The government will cancel the casino's license once O'sryan's special management oversight ends.
The commission’s report highlighted “grave, ongoing legal breaches and misconduct” at odds with both Australian and international law. The government's proposed legislation will prohibit a gaming firm from dealing with junket operators. James Packer‘s investment company will have to cut its 37% shareholding in Crown down to under 5% by September 2024.
