- Legal States
Jerome García July 7, 2022 3 min read
Crown Melbourne Makes Positive Changes, Claims Report
It was last autumn when Ray Finkelstein launched a probe into Crown Melbourne’s operations. The Royal Commissioner unveiled a massive scheme involving card transfers via China UnionPay that enabled high-rollers from China to skip currency restrictions.
Following Finkelstein’s report, the operator was given two years to implement changes and ensure its compliance with the local regulations. Now, six months after Crown Melbourne’s operations were supervised by an independent Special Manager, the first progress report was released.
New Report Assesses the Activity of Crown Melbourne
The first Activity Report by Stephen O’Bryan, who was appointed to assess and monitor the progress of the operator covers the period between January and June this year. Details regarding the report were released by Inside Asian Gaming. This is the first out of a total of four reports which are due to be released by the end of next year. Focusing on the last six months, the report acknowledges that Crown has taken “positive steps.”
The white paper said that the positive outcome was the result of a “complex and significant reform program” implemented by Crown to ensure its compliance and address issues raised by Finkelstein’s report. In that line of thought, the report reveals that Crown’s recent acquisition by The Blackstone Group also contributed to the positive change. To ensure compliance and support his work, O’Bryan created a multi-disciplinary team. The recent progress report also revealed that the disciplinary team regularly collaborated with Crown’s senior leadership.
“Crown is undertaking a complex and significant reform program and it has already taken a range of positive steps,”wrote Stephen O’Bryan in the first Crown Resorts Activity Report
In light of the recent report, the Victorian state government announced that O’Bryan, as Special Manager, will continue to monitor and assess Crown’s operations. A key focus area for the operator is going to be the implementation of reforms and compliance. Ultimately, all those changes are expected to have a positive impact on the communities, employees of the company and its customers. “The Special Manager will also continue to keep careful watch on the integrity of Crown’s conduct, including its compliance with legal, regulatory and other obligations,” explained the Victorian state government.
Steve McCann Steps Down as CEO
Coinciding with the release of the report, today, Crown revealed Steve McCann, who was CEO of Crown Resorts and Crown Melbourne, decided to step down. His position would be filled by Ciarán Carruthe, subject to the relevant approvals. Carruthe is expected to spearhead Crown as CEO starting from September. However, to ensure a smooth transition, McCann will collaborate with Carruthe. The company also unveiled that additional senior leadership changes are expected soon as well.