On Tuesday, Crown will argue its case to the commission as to why it should be allowed to retain its license.<\/p>\n
While lawyers assisting the commission have questioned whether Crown is capable of reforming its corporate culture and anti-money laundering protocols, they have suggested a potential escape route for the operator.<\/p>\n
This would involve an 18-month deferment period that would give Crown the chance to rehabilitate itself. If ultimately necessary, it would also allow a transition to a new licensee with minimum disruption.<\/p>\n
\n
The ultimate decision lies with Commissioner Ray Finkelstein, a former judge who has queried whether Crown Melbourne should be owned by a private company at all.<\/p>\n<\/div>\n
Finkelstein has accused Crown of breaking an agreement with the state that stipulated the Melbourne casino should be \u201cVictorian-run, Victoria-operated, with Victoria\u2019s economic and social interests as its principal concern.\u201d<\/p>\n
Thus, according to Finkelstein, Crown\u2019s ownership of properties outside Victoria could represent a conflict of interest.<\/p>\n","protected":false},"excerpt":{"rendered":"
JP Morgan is betting that Crown Resorts will be found unsuitable for licensing in the Australian state of Victoria. But Crown will continue to operate its flagship resort in state capital Melbourne, as the cancellation of its license is deferred, speculates Don Carducci, an analyst with the investment bank. A Victorian royal commission is examining […]<\/p>\n","protected":false},"author":36,"featured_media":181643,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,13592],"tags":[],"acf":[],"yoast_head":"\n
Crown Resorts Unsuitable but Will Cling on to Vicotria License: JP Morgan<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n