Crown Resorts Could Win Sydney License This Year
Barangaroo casino resort
Crown Resorts the Australian casino operator which has been through a torrid time recently with regulatory failings costing it its license for the Sydney’s flagship new resort back in February has been given some new hope.
The $1.7 billion development has opened its restaurants and hotel rooms but without its casino because the New South Wales Independent Liquor and Gaming Authority (ILGA) ruled that on review of its application for a casino license the company had serious failings in its VIP and money laundering regulatory controls.
However the chief of the New South Wales regulator, Philip Crawford said recently in an interview that Crown has a “realistic prospect”, of gaining its license after finding the company had made improvements in its regulatory structures.
Following the loss of the casino license Crown’s Chief Executive Ken Barton departed along with five other directors of the company.
When interviewed by The Australian newspaper, the Independent Liquor and Gaming Authority (ILGA) chairman said that Crown has made progress, but still has some way to go before being reinstated with its license.
“Let’s be under no illusion, if I’m not satisfied, if the Independent Liquor and Gaming Authorities not satisfied that they have rehabilitated themselves, they won’t be found suitable,” Crawford said.
In his closing remarks the regulator said that Crown had a “realistic prospect” of gaining their Sydney license in the second part of this year IF the company continues to improve their internal regulatory policies.
