Leasing casinos a viable option for Crown Resorts' lost licences

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Australia’s Crown Resorts warns of unlawful use of IP by illegal online gambling sites

Crown Resorts has issued a public warning against imposter and fraudulent social media accounts and advertisements it says have been falsely using Crown's name, logo, photos and other identifying information to advertise illegal online gambling sites. In a statement, the Australian casino operator urged the community to be cautious of such…

Law ・ 04 January 2024

The Sydney Morning Herald

Crown casinos to launch online self-exclusion scheme for gamblers

People with gambling problems will be able to ban themselves from Crown casinos over the internet instead of having to do so in person, as part of a wider overhaul of the group's approach to harm minimisation. Crown Resorts' new safer gambling program also includes the establishment of a dedicated gambling policy team, which will monitor customer…

Gambling Addiction ・ 28 July 2023

Asgam

Star warns of major hurdles to earnings at The Star Sydney on increased casino duty rates, regulatory challenges

Australia's Star Entertainment Group has warned that the future earnings capacity of The Star Sydney could be seriously harmed should the NSW state government proceed with plans to substantially increase casino duty rates starting in FY24. In an earnings and outlook update filed with the Australian Securities Exchange on Monday, Star explained that…

Industry ・ 13 February 2023

The Sydney Morning Herald

Sydney casinos: High rollers still on the menu as Crown and Star lock horns

After a decade of drama, Sydney finally has two casinos vying for its gambling dollar - separated by the barest sliver of a harbour. Crown Resorts and Star Entertainment Group have been put through the regulatory ringer, many would say belatedly, for their shoddy approach to compliance. But suitably chastened, both are now ready to go toe-to-toe in…

Travel ・ 12 August 2022

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ABC Australian Broadcasting Corporation

Crown's Sydney casino to deliver $100m in extra tax revenue for NSW government in first year, experts say

Crown's Sydney casino is expected to deliver an extra $100 million in tax revenue to the NSW government in its first year, just a quarter of what its Melbourne venue delivers to Victoria's coffers. Crown was granted a licence to run its Sydney casino earlier this week Experts say the casino will make a quarter of what Crown Melbourne makes Crown…

Finance ・ 26 June 2022

Brisbane Times

Crown Barangaroo’s casino licence is critical to its survival in Sydney

But the world was a very different place in 2012, when Packer unveiled his grand plans with NSW premier Barry O'Farrell, and talkback radio king Alan Jones, providing the backing chorus. The casino mogul was still educating his fellow Crown investors, various state governments, and Australians at large, about the new phenomenon of Chinese tourists…

Gaming Authorities ・ 24 June 2022

ABC Australian Broadcasting Corporation

NSW gaming regulator finds Blackstone 'suitable' to hold licence for Sydney casino

Corporate equity giant Blackstone is a step closer to its takeover of Crown Resorts after gaming regulators in NSW and Victoria ruled it was "suitable" to hold a casino licence. Blackstone is pursuing an $8.9 billion takeover of Crown Resorts The equity giant has been subjected to an extensive probity assessment Crown has been prevented from…

Travel ・ 09 June 2022

ABC Australian Broadcasting Corporation

Crown could secure licence to open Barangaroo casino despite being found unfit by gaming regulator last year

Crown Resorts is on the verge of securing a licence to finally open its Sydney casino 15 months after being deemed "unfit" by the NSW gaming regulator. Last year the Bergin inquiry said Crown needed to make sweeping cultural changes if it wanted to be a suitable operator The inquiry investigated incidents of money laundering and links to…

Gaming Authorities ・ 03 June 2022

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Financial Review

Star, Crown inquiries: How Australia’s casino industry became so rotten

But while The Star took a holier-than-thou approach to its James Packer-backed rival over the past two years - as three separate state inquiries found Crown unfit to hold casino licences in Sydney, Melbourne and Perth - the evidence heard by the NSW inquiry this past month has shown it was similarly dishonest. The NSW probe, helmed by Adam Bell,…

Industry ・ 13 April 2022

Golden Casino News

Crown Resorts approved to resume casino operation in Sydney

Crown Resorts may be on the verge of opening its real-money casino component of its $2.2 billion Crown Sydney Hotel Resort "in the next weeks," local media sites claim. The property swung open its doors for the first time towards the end of 2020, but casino operations were suspended following an Independent Liquor & Gaming Authority investigation…

Travel ・ 02 March 2022

European Gaming

Crown’s Barangaroo Casino to be Open Within Weeks

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…

Gaming Authorities ・ 22 February 2022

AGB - Asia Gaming Brief

Crown Resorts' Barangaroo casino to be open within weeks

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…

Travel ・ 18 February 2022

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Real Money

Blackstone Poised to Become Biggest Aussie Gambling Operator

Private equity powerhouse Blackstone Inc. (BX) looks set to become the biggest gambling operator in Australia after it made an improved offer for Crown Resorts (ASX:CWN and CWLDY), which the casino company's board said shareholders should accept. That's unless a better offer comes in... I've written about this saga a couple times before,…

Travel ・ 14 January 2022

Vegas Slots Online

New Year Launch in the Cards for Crown’s Sydney Casino

Troubled Australian operator Crown Resorts and its regulatory overseer are working together to launch Crown Sydney's casino in early 2022. [Image: Shutterstock.com] Steven McCann, the new CEO of Australia's Crown Resorts, has said the troubled gaming giant aims to open its Sydney casino in early 2022. At an investor briefing on Monday, McCann said…

New Year ・ 13 December 2021

The Guardian

Crown Resorts: can a ‘special manager’ clean up Melbourne’s casino?

A royal commission proposal to install a special manager to make sure Crown Resorts' Melbourne casino cleans up its act after years of misconduct will be difficult to implement, experts say. While commissioner Ray Finkelstein's recommendations to tackle problem gambling have been welcomed, governance and gaming experts have questioned the plan to…

Travel ・ 28 October 2021

Vegas Slots Online

Aussie Casino Giant The Star's Shares Fall on Illegalities Claim

The cycle of negative news for Australian gambling firms shows no sign of letting up after casino giant The Star Entertainment's shares fell on the back of a money laundering claim. Leading Australian online stockbroking firm CommSec took to Twitter on October 11 to share the news that The Star's shares had slumped by 22.9% on Monday: The sharp…

Gaming Authorities ・ 11 October 2021

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Crown Resorts falls to US$191 million loss in FY21 on Melbourne, Sydney casino closures

Troubled Australian casino giant Crown Resorts has reported a loss of AU$261.6 million (U$191.2 million) in the 12 months to 30 June 2021, heavily impacted by COVID-induced property closures and the fallout from regulatory inquiries across three states. Crown saw its revenue plummet 31.3% year-on-year to AU$1.54 billion (U$1.13 billion) in FY21,…

Travel ・ 30 August 2021

Vegas Slots Online

Gambling Addict Sues Australia's Crown Resorts for $3.3m

Ahmed Hasna, a high-roller with a serious gambling addiction, is suing Australia's Crown Resorts casino group, which is majority backed by media magnate James Packer, for over AU$4.5m (US$3.3m). Melbourne local government councilor and award-winning journalist Stephen Mayne took to Twitter on August 10 to share news of Hasna's suit, which he said…

Travel ・ 11 August 2021

The Sydney Morning Herald

Five bombshells that could blow away Crown’s Melbourne casino

As the future of Crown's sprawling Southbank casino hangs in the balance, these are the five problems he will be weighing up. Crown Melbourne made around $1.2 billion from its poker machines and table games every year before COVID-19 - excluding high rollers - and doing that "responsibly" is a key requirement of its casino licence. But it was…

Law ・ 09 July 2021

Market Watch

Australian Casinos Probed For Possible Anti-Money Laundering Law Breaches

SYDNEY--Australia's two largest casino operators are facing fresh scrutiny from regulators after the government's financial intelligence agency uncovered potential breaches of anti-money laundering law. Crown Resorts Ltd., which is already facing multiple investigations from Australian authorities amid disquiet over its business practices in Sydney…

Incidents ・ 07 June 2021

BBC

Sydney casinos to ban cash after money laundering scandal

Sydney's only two casinos will make their gaming operations cashless in a bid to stamp out money laundering. Regulators said The Star and Crown Sydney, which is yet to be opened, agreed to the unusual move on Thursday. It comes after an inquiry earlier this year found it was likely criminal activity had occurred at Crown Resorts' casinos in other…

Incidents ・ 15 July 2021

The Wall Street Journal

Blackstone’s Crown Deal Has Dice Loaded in Its Favor

Financial markets are often compared to casinos and financiers to gamblers. Sometimes that turns out to be true quite literally: Blackstone is placing a timely bet in Crown Resorts. That bid looks likely to turn out well. The private equity giant has offered the equivalent of $6.2 billion to buy the troubled Australian casino operator Crown…

Travel ・ 08 May 2021

Real Money

Australia's Largest Casino Company Loses Big With License Findings

Australia's largest gambling company, Crown Resorts, is facing a crisis of its own making after a damning report that finds it unfit to open its newest casino. Crown has already opened the doors to the nice-and-shiny, 75-floor Crown Sydney skyscraper, which is now Sydney's tallest building. The hotel and restaurants are open for customers. But the…

Travel ・ 07 May 2021

The Sydney Morning Herald

Crown inquiry LIVE updates: Sydney’s Crown Barangaroo casino not suitable to hold licence, Bergin report finds

If you're just joining us now, here is what you need to know. Today the NSW government tabled the long-awaited report of the Bergin inquiry into Sydney's second casino licence, which is held by the James Packer-backed Crown Resorts. Crown opened its new $2.2 billion complex in Barangaroo in late December, but without the gaming rooms that…

Gaming Authorities ・ 09 February 2021

The Sydney Morning Herald

Sydney’s casino report released under privilege

The NSW government will release the findings of its long-running probe into Crown Resorts under parliamentary privilege so it can defend itself against potential defamation claims launched by the casino giant's executives. The precaution foreshadows potentially explosive findings in former Supreme Court judge Patricia Bergin's 800-page report into…

Gaming Authorities ・ 08 February 2021