Casino
September 21, 2022
New Legislation Pushes Tough Rules on Crown Melbourne
New legislation was passed by the Victorian parliament Tuesday that seeks to reduce gambling-related harm and money laundering at Crown Melbourne. Victorian Parliament Passes Bill 2022 The new changes come after the Royal Commission Report last October probed into the venue’s operations. Now, the legislative changes deliver a resolution of an additional 12 of the 33 Royal Commission recommendations. Bill 2022, […]
Casino
September 12, 2022
Aussie Rules Legend to Sue Crown Perth Over Drug-Related Incident
Wayne Carey, a former professional Aussie Rules player, has threatened to sue Crown Casino Perth after he was kicked out over a suspicious bag of white powder that was in his possession. According to his lawyer, Carey will sue the casino for disability discrimination. The Incident Led to a Two-Year Ban for the Hall of […]
Sports
September 5, 2022
AFL Great Wayne Carey Banned from Crown for Two Years
Wayne Carey, an AFL great and commentator for Seven and writer for The Age, was at the center of an unwanted incident at Crown Perth and was issued with a “withdrawal of license” according to the report in The Herald. Anti-Inflammatory White Powder Substance Not Looking Good The ban on visiting Crown properties for two […]
Casino
August 26, 2022
Crown Sidney CEO to Resign, Blackstone Will Appoint a Replacement Soon
Crown Sidney has confirmed that its CEO, Simon McGrath, will depart the company amid the Blackstone takeover. Australian media outlets report that his resignation will be effective in September and the Australian Financial Review reported that Blackstone will announce his replacement soon. The Next CEO is Likely to Come from Macau Australian Financial Review also […]
Casino
August 3, 2022
NSW New Regulatory Body Now Can Fine Casinos up to AU$100M
The new body will be named the NSW Independent Casino Commission and is expected to be much stricter in its regulatory actions and should be able to uphold all the new reforms in gambling regulation as it is itself a part of them. New Regulatory Body Ups the Ante Amid Upcoming Reforms New South Wales’ […]
Casino
July 25, 2022
Crown Sydney Opens as Regulator Granted Provisional Casino License
The long-awaited launch of Crown Resorts’ luxury casino at the Crown Sydney is finally about to happen. Australia’s first and only VIP casino will officially open and commence operations on August 8, 2022. The Crown Sydney Gets a Provisional License The Crown Sydney announced the opening date for its luxury casino venue at its skyscraper […]
Business
July 8, 2022
Moody’s Withdraws Crown Resorts Rating over Blackstone Acquisition
Credit rating agency Moody’s Investors Service has stripped Australia-based Crown Resorts Limited from its Ba3 corporate family rating (CFR), following a similar move from credit rating agency Fitch, which a few days ago also downgraded the company’s credit rating. Downgrade Resulting from Blackstone Acquisition The recent changes announced by the two major credit rating agencies […]
Casino
July 7, 2022
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 […]
Business
July 6, 2022
Fitch Lowers Crown’s Rating Post-Blackstone Takeover
Crown Resorts, Australia’s largest gaming operator, recently sold its business to The Blackstone Group, a real estate and private equity firm. As a result, Fitch Ratings, a major rating agency, downgraded its rating of Crown’s business. Fitch Changed Its Ratings Soon after Blackstone completed the deal, Fitch lowered Crown Resorts’ Issuer Default Rating from BBB […]
Legal
July 4, 2022
VGCCC Would Not Let Crown Resorts ‘Off the Hook’ Easily
Crown Resorts is facing a fine of up to AU$100 million ($69 million) for its responsible gambling failures at Crown Melbourne after the state gambling regulator initiated a second round of disciplinary action against the troubled casino operator. ‘Condition of the Casino License’ The Victorian Gambling and Casino Control Commission (VGCCC) announced today it has […]