Casino
May 25, 2022
Crown Melbourne May Face Legal Action after Supercar Valet Theft
An incident at Crown Casino in Melbourne is raising concerns about Crown Resorts’ security protocols after a $500,000 luxury car was taken from the casino’s parking but not by the person who had left it there. Security Protocol Failure Around 3am on Sunday, a valet attendant at Crown Melbourne gave the keys to a luxury […]
Legal
May 25, 2022
VGCCC Announced EGM Rules at Crown Melbourne
The Victorian Gambling and Casino Control Commission (VGCCC) has prepared a new set of restrictive regulations at Crown Melbourne. This comes after Crown Resorts announced its interest in better understanding what the newly imposed electronic gaming machines (EMG) tax levy would mean for its operations. The tax would generate up to AU$30 million ($21.3 million) […]
Business
May 24, 2022
Crown Resorts’ $6.5B Acquisition Pending Final Court Hearing
Australian land-based casino operator Crown Resorts announced in a filing with the Australian Securities Exchange (ASX) today that it has filed materials conccerning the proposed acquisition by Blackstone with the Federal Court of Australia. Final Court Hearing Date Pending Last week, Crown Resorts shareholders voted to almost unanimously approve the proposed transaction by way of […]
Industry
May 20, 2022
Crown Investors Approve Blackstone’s Takeover Bid
As Blackstone prepares to acquire Crown Resorts, the casino company inquired about its investors’ opinion on the deal. As it turns out, most of them support the takeover. Crown’s Shareholders Approve the Scheme Blackstone, an American investment management company, announced its intentions to acquire Crown Resorts. The Australia Foreign Investment Review Board reviewed the deal […]
Casino
May 3, 2022
Crown Resorts Wants to Better Understand New EMG Tax Levy
Crown Resorts has accepted its fate that for better or for worse it will have to prove its reputation as a reliable gaming giant in Australia once again. The next two years will be challenging, but it all seems to be going well. However, the company is not exactly sure it understands the motivation behind […]
Casino
May 2, 2022
Victoria’s Officials Set Aside $39.3 million to Increase Crown Melbourne Surveillance
Victoria’s state government officials have made up their minds regarding the amount they would dedicate to stronger oversight of Crown Melbourne’s operations. The 2022/23 yearly budget will put aside AU$55.6 million (US$39.3 million) for the implementation of a series of Royal Commission recommendations regarding the iconic venue. The Money Will Assist Special Manager Stephen O’Bryan’s […]
Business
April 27, 2022
Blackstone Set to Wait Three More Weeks to Take Over Crown Resorts
Blackstone’s takeover of Crown Resorts has been delayed due to the fact that the private equity company needs to make a case with Australian regulators that it is fit to be in control of the casino operator. As a result, Blackstone will have to wait additional 3 weeks to receive the necessary approvals. The Company […]
Casino
April 5, 2022
Crown Melbourne’s Illegal Money Transfers Could Cost AU$100m
Crown Resorts is facing a sanction of up to AU$100 million ($75 million) for violations of the Casino Control Act related to the illegal transfer of funds from China via China UnionPay cards. New Disciplinary Action against Crown Melbourne The Victorian Gambling and Casino Control Commission (VGCCC) launched the new disciplinary action against the troubled […]
Casino
March 29, 2022
Blackstone’s Acquisition of Crown Resorts Now Closer to Realization
The Foreign Investment Review Board has given the green light on Blackstone Group’s proposed acquisition of Crown Resorts and in doing so, the first hurdle has been passed as the Australian government has no objection to the purchase. Blackstone Offered $6.5 Billion All-Cash to Buy Crown Blackstone’s offer of AU$8.9 billion ($6.5 billion) was met […]
Casino
March 24, 2022
A New Report Sends Crown Perth on a 2-Year Pathway to Suitability
A probe into Crown Perth’s business completed by the Perth Casino Royal Commission (PCRC) in Australia deemed the company not suitable to hold a license. However, the Commission decided to grant Crown Perth the possibility to remedy its shortcomings for a period of two years instead of proposing license revocation. During that time, Crown Perth […]
