Crown Resorts Melbourne Closes for a Week from Today

Crown Resorts, an Australian casino operator, has announced that its Melbourne property will close until June 3, in line with the newly announced coronavirus restrictions in Victoria.

Victoria Government Closes All Non-essential Retail

The Crown Resorts, an Australian casino operator, has announced it will close down its Melbourne facility until June 3 due to the newly announced coronavirus restrictions. Victoria Government said that the state would go into a week of a “circuit-breaker lockdown” from 11:59 pm local time on May 27, until June 3, due to a surge of Covid-19 cases in Melbourne.

According to the government, there are 12 new cases in the state, and it’s the highest daily total since October 12, last year.

All non-essential retail will close until the end of the lockdown, along with Crown Melbourne casino. Although food and beverages services will shut down, hotel accommodation will remain available.

In March, Crown Melbourne casino had to shut down its main gaming floor as authorities were trying to stop the spread of the virus. Victoria Government first allowed the casino to operate, granting a special exemption from the social distancing rules. However, under pressure from public and health experts, it had to reverse its decision.

Crown Melbourne Subject to Investigation

In February, the Victoria government announced the launch of an investigation into Crown Casino Resorts in Melbourne, following a scandal that involved organized crime.

The Government revoked Crown’s license in New South Wales because of a link to organized crime and money laundering.

Crown was also ruled unfit to hold a license, for its Barangaroo casino resort in Sydney and faced another inquiry into its casino operations in Perth.

Crown Resorts Pursued by Rivals and Equity Giants

Currently, Crown Resorts is the subject of an acquisition proposal from Blackstone Group, a leading investment management company based in New York, and another offer for merging with rival Star Entertainment.

Blackstone offered AUD12.35 per Crown share, a 4% increase from its previous offer in March. Crown turned down the acquisition proposal, stating it undervalued its business.

Crown doesn’t have an opinion on the proposal by Star Entertainment yet. The company has asked for more information from Star “to better understand various preliminary matters.”

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