{"id":169138,"date":"2021-03-31T08:02:41","date_gmt":"2021-03-31T15:02:41","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=169138"},"modified":"2021-03-31T11:46:10","modified_gmt":"2021-03-31T18:46:10","slug":"crown-resorts-could-win-back-sydney-license-later-this-year-regulator","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/crown-resorts-could-win-back-sydney-license-later-this-year-regulator\/","title":{"rendered":"Chastened Crown Resorts Could Win Back Sydney License Later This Year: Regulator"},"content":{"rendered":"

Crown Resorts could get its Sydney license back this year, according to New South Wales\u2019 chief gaming regulator.<\/p>\n

\"Crown
ILGA chair Philip Crawford, seen in the image above, says Crown has made progress but needs to demonstrate complete rehabilitation to get its license back. (Image: ABC News<\/em>)<\/figcaption><\/figure>\n

Philip Crawford, chairman of the state\u2019s Independent Liquor and Gaming Authority (ILGA), told The Australian<\/em> newspaper that reinstatement in the second half of 2021 was a \u201crealistic prospect,\u201d provided the company got its \u201cstructures in place.\u201d<\/p>\n

Crawford pulled the license in February on the recommendation of a public inquiry led by former NSW Supreme Court judge Patricia Bergin.<\/p>\n

Bergin concluded that the Crown was guilty of \u201cpoor corporate governance,\u201d which led to the facilitation of money laundering and the pursuit of commercial relationships with individuals with links to triads and other organized crime groups.<\/p>\n

Crown Resorts Blows Itself Up<\/strong><\/h2>\n

The revocation of Crown\u2019s license has caused severe disruption to its $1.7 billion Crown Sydney project<\/a>, which opened in December as a high-end casino without casino operations.<\/p>\n

In February, Crawford said the company would have to \u201cblow itself up to save itself.\u201d But he told The Australian<\/em> this week that Crown was committed to change and \u201cmaking progress.\u201d<\/p>\n

Let\u2019s be under no illusion, if I\u2019m not satisfied, if the Independent Liquor and Gaming Authority\u2019s not satisfied that they have rehabilitated themselves, they won\u2019t be found suitable,\u201d<\/strong> he said.<\/p><\/blockquote>\n

\u201cIt\u2019s not that we can\u2019t move them out. But we have a process,\u201d he added.<\/p>\n

Crown CEO Ken Barton and five other directors \u2013 including those with the closest ties<\/a> to the company\u2019s biggest shareholder, James Packer \u2013 have quit in the wake of the bombshell Bergin report.<\/p>\n

Victoria Inquiry Underway<\/strong><\/h2>\n

Meanwhile, a new licensing probe got underway last week in the state of Victoria, examining the company\u2019s suitability to operate its flagship Melbourne property.<\/p>\n

The chair of that inquiry, Ray Finkelstein, said Crown pointed to a \u201csubstantial reform program\u201d it had undertaken since losing its NSW license. Analysis of the effectiveness of that program and how the company has dealt with problem gambling will form the core of the new inquiry, Finkelstein said.<\/p>\n

Relicensing this year would be a bonus for private equity firm Blackstone, which recently launched a $6.2 billion takeover bid for Crown Resorts<\/p>\n

Crawford said for the deal to go through, Blackstone would first have to pass an \u201cexhaustive process\u201d of probity and \u201cextensive due diligence\u201d in Victoria, which would take a long time.<\/strong><\/p>\n

\u201cThe probity process can be done in tandem with Crown suitability. But I can\u2019t give you a date on that,\u201d he said.<\/p>\n

Crown is still assessing Blackstone\u2019s proposal.<\/p>\n","protected":false},"excerpt":{"rendered":"

Crown Resorts could get its Sydney license back this year, according to New South Wales\u2019 chief gaming regulator. Philip Crawford, chairman of the state\u2019s Independent Liquor and Gaming Authority (ILGA), told The Australian newspaper that reinstatement in the second half of 2021 was a \u201crealistic prospect,\u201d provided the company got its \u201cstructures in place.\u201d Crawford […]<\/p>\n","protected":false},"author":36,"featured_media":169139,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,13592],"tags":[],"acf":[],"yoast_head":"\nCrown Resorts Could Win Back Sydney License Later This Year: Regulator<\/title>\n<meta name=\"description\" content=\"Crown Resorts could regain its license in Sydney and NSW later this year, according to ILGA\u2019s Philip Crawford, a boon for Blackstone.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crown Resorts Could Win Back Sydney License Later This Year: Regulator\" \/>\n<meta property=\"og:description\" content=\"Crown Resorts could regain its license in Sydney and NSW later this year, according to ILGA\u2019s Philip Crawford, a boon for Blackstone.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/crown-resorts-could-win-back-sydney-license-later-this-year-regulator\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-31T15:02:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-03-31T18:46:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/03\/Crawford.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/crown-resorts-could-win-back-sydney-license-later-this-year-regulator\/\",\"url\":\"https:\/\/www.casino.org\/news\/crown-resorts-could-win-back-sydney-license-later-this-year-regulator\/\",\"name\":\"Crown Resorts Could Win Back Sydney License Later This Year: Regulator\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/crown-resorts-could-win-back-sydney-license-later-this-year-regulator\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/crown-resorts-could-win-back-sydney-license-later-this-year-regulator\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/03\/Crawford.jpg\",\"datePublished\":\"2021-03-31T15:02:41+00:00\",\"dateModified\":\"2021-03-31T18:46:10+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"Crown Resorts could regain its license in Sydney and NSW later this year, according to ILGA\u2019s Philip Crawford, a boon for Blackstone.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/crown-resorts-could-win-back-sydney-license-later-this-year-regulator\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/crown-resorts-could-win-back-sydney-license-later-this-year-regulator\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/crown-resorts-could-win-back-sydney-license-later-this-year-regulator\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/03\/Crawford.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/03\/Crawford.jpg\",\"width\":1200,\"height\":630,\"caption\":\"ILGA Chair Philip Crawford says Crown has made progress but needs to demonstrate complete rehabilitation to get its license back. 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