After months of uncertainty and speculation, Crown Sydney has finally been granted permission to operate its long-awaited casino after undergoing a “monumental transformation.”
The NSW Independent Liquor and Gaming Authority (ILGA) made the decision to retain the casino license for Crown Sydney after the company took significant steps to address the concerns raised during the Bergin Inquiry earlier this year. The commission had previously found that Crown Resorts was unfit to hold a casino license due to allegations of money laundering, criminal activity and other serious breaches of probity.
In response, Crown Resorts embarked on a major overhaul of its corporate governance and compliance practices, as well as implementing a series of reforms to address the damning findings of the inquiry. This included the appointment of a new independent chair and board members, as well as the implementation of a strict new anti-money laundering program.
ILGA chair Philip Crawford praised the company for its efforts, stating that, “Crown Resorts has undergone a monumental transformation and has demonstrated a genuine commitment to addressing its past failings and becoming a leader in the industry.” He added that the decision to retain the casino license was made following a thorough assessment of the company’s progress and ongoing commitment to compliance.
The news comes as a welcome relief for Crown Sydney, which had been facing an uncertain future following the damning revelations of the Bergin Inquiry. The $2.2 billion luxury resort and casino, which opened its doors in December 2020, had been operating without a casino license due to the ongoing regulatory scrutiny.
The decision to retain the license will allow Crown Sydney to fully operationalize its casino, which features a range of table games, slot machines, and VIP gaming areas. The company has also announced plans to expand its entertainment offerings, with a new nightclub and live performance venue set to open in the coming months.
In a statement, Crown Resorts CEO Steve McCann expressed his gratitude for the support of the ILGA and the opportunity to move forward. “We are committed to upholding the highest standards of integrity and excellence in all aspects of our operations, and we look forward to providing a world-class entertainment experience for our guests at Crown Sydney.”
The decision to retain the casino license for Crown Sydney marks a significant turning point for the company, which has been embroiled in controversy for the past few years. With a renewed focus on compliance and corporate governance, Crown Resorts is poised to reclaim its reputation as a leading player in the Australian gaming industry.
