Crown Resorts: can a ‘special manager’ clean up Melbourne’s casino?
$6,000 Welcome Bonus
Crown Resorts' Melbourne casino has been accused of misconduct. Ray Finkelstein's report found it facilitated money laundering, failed to stop addicts from gambling excessively and underpaid state gambling taxes. The report recommended installing a special manager to clean up the casino. However, the Victorian government agreed to pay Crown up to $200m if it removed the company's casino licence or imposed conditions on it. In New South Wales, Crown will not be given a licence to open its high roller casino in the $1.7bn Barangaroo tower until it has satisfied an expert that it's reformed itself.
Livingstone welcomes Finkelstein's proposed crackdown on poker machine gambling. Tony Robinson predicts it will be difficult to get the laws needed to realise Finkelsi's vision through parliament. Andrew Linden, a governance expert, says the governance model proposed by Fin kelselstein is a "dog's breakfast". Victoria's 2012 management agreement, under which the state government agreed to pay Crown up to $200m if it removes the company's casino licence or imposes conditions on it, is also an impediment to reform. The agreement violated a long-held legal principle that no one should be entitled to recover damages caused by their own wrongful conduct.
Victor Dominello doubts Crown's generous compensation provisions will be upheld in court. The full extent of the NSW government's plans to change casino regulation is still to be implemented. Dominello has said he will accept all 19 recommendations made by the Bergin report. Star has been granted a similar compensation deal to Crown Resorts under a deed signed in May 2020. It is designed to address “the twin evils” of problem gambling and money laundering. NSW’s plans for a cashless gaming card will enable gaming limits to set and stop cash being used to buy chips in casinos.
