{"id":181807,"date":"2021-08-03T10:10:13","date_gmt":"2021-08-03T17:10:13","guid":{"rendered":"https:\/\/www.casino.org\/news\/crown-resorts-begs-for-victoria-license-as-two-more-top-execs-get-chop\/"},"modified":"2021-08-03T10:41:31","modified_gmt":"2021-08-03T17:41:31","slug":"crown-resorts-begs-for-victoria-license-as-two-more-top-execs-get-chop","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/crown-resorts-begs-for-victoria-license-as-two-more-top-execs-get-chop\/","title":{"rendered":"Crown Resorts Begs for Victoria License as Two More Top Execs Relieved"},"content":{"rendered":"

Commissioner Ray Finkelstein in Melbourne on Tuesday wanted to know the difference between Australian casino giant Crown Resorts and a car thief.<\/p>\n

\"Crown
Xavier Walsh (left) and Helen Coonan are out at Crown Resorts as the operator\u2019s Victoria license hangs in the balance. (Image: The Australian\/Casino.org)<\/figcaption><\/figure>\n

This unusual line of inquiry came after lawyers for Crown had offered final submissions as to why the operator should keep its Victoria gambling license<\/a> in the face of claims of tax evasion and anti-money laundering failings.<\/p>\n

Michael Borsky QC told a hearing of the royal commission examining Crown\u2019s suitability that the company apologized for its past mistakes and committed itself to reform. It should be trusted to deliver on that promise, he said.<\/p>\n

Borsky emphasized that the Crown Melbourne was an integral part of Victoria\u2019s economy, employing some 12,000 people.<\/p>\n

\u2018Not How It Works\u2019<\/strong><\/h2>\n

\u201cYou\u2019d pay unpaid taxes, pay a few costs, but you don\u2019t actually suffer any consequence,\u201d mused Finkelstein. \u201cThat is, you can commit wrong for a decade of various kinds, and come along and say, \u2018Well, we\u2019ve fixed it, so don\u2019t worry about it.<\/p>\n

\u201cIf I was a car thief, and went to the criminal court and said, \u2018I\u2019m not going to steal a car again, don\u2019t worry about it, take my word for it,\u2019 and they just let me go \u2013 it\u2019s really not how the system works, is it?\u201d Finkelstein asked.<\/strong><\/p><\/blockquote>\n

\u201cNot only is it not how the system works, it\u2019s not what the public expects,\u201d added the former federal court judge.<\/p>\n

Finkelstein said he did not buy that Crown employees\u2019 jobs were at risk, because the casino was a highly profitable business, which meant another company would happily come in and take over.<\/p>\n

Coonan, Walsh, Heads on the Block<\/strong><\/h2>\n

The exchange did not bode well for Crown, which relies on the Melbourne property for up to 75 percent of its profits and is desperate to retain its Victoria license. It lost its right to operate casino gaming in New South Wales following a similar investigation.<\/p>\n

Finkelstein has already opined that Victoria might be better served by a casino company that was at least partly owned by the state, suggesting a complicated restructuring could be in the cards.<\/p>\n

\n

On Monday, analysts for JP Morgan said they expected Finkelstein to find Crown unsuitable, but that the operator would be permitted to keep its license. <\/strong><\/p>\n<\/div>\n

It\u2019s likely the license cancellation will be deferred<\/a> by several years, allowing Crown to make good on its promise, they said.<\/p>\n

But the company will be expected to undergo profound reforms and initiate widespread sackings before it can be rehabilitated.<\/p>\n

It seems the board got the memo. Crown announced Tuesday that Crown Melbourne CEO Xavier Walsh would be parting ways with the company, as would Crown Resorts chair Helen Coonan, a former federal Communications minister.<\/p>\n

Finkelstein is scheduled to decide on the royal commission\u2019s findings on October 15.<\/p>\n","protected":false},"excerpt":{"rendered":"

Commissioner Ray Finkelstein in Melbourne on Tuesday wanted to know the difference between Australian casino giant Crown Resorts and a car thief. This unusual line of inquiry came after lawyers for Crown had offered final submissions as to why the operator should keep its Victoria gambling license in the face of claims of tax evasion […]<\/p>\n","protected":false},"author":36,"featured_media":181812,"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 Begs for Victoria License as Two More Top Execs Get Chop<\/title>\n<meta name=\"description\" content=\"Crown Resorts delivers final submissions to Ray Finkelstein as Victoria license for Crown Melbourne hangs in the balance.\" \/>\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 Begs for Victoria License as Two More Top Execs Get Chop\" \/>\n<meta property=\"og:description\" content=\"Crown Resorts delivers final submissions to Ray Finkelstein as Victoria license for Crown Melbourne hangs in the balance.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/crown-resorts-begs-for-victoria-license-as-two-more-top-execs-get-chop\/\" \/>\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=\"2021-08-03T17:10:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-03T17:41:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/08\/crown-execs22.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"923\" \/>\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=\"3 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-begs-for-victoria-license-as-two-more-top-execs-get-chop\/\",\"url\":\"https:\/\/www.casino.org\/news\/crown-resorts-begs-for-victoria-license-as-two-more-top-execs-get-chop\/\",\"name\":\"Crown Resorts Begs for Victoria License as Two More Top Execs Get Chop\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/crown-resorts-begs-for-victoria-license-as-two-more-top-execs-get-chop\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/crown-resorts-begs-for-victoria-license-as-two-more-top-execs-get-chop\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/08\/crown-execs22.jpg\",\"datePublished\":\"2021-08-03T17:10:13+00:00\",\"dateModified\":\"2021-08-03T17:41:31+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"Crown Resorts delivers final submissions to Ray Finkelstein as Victoria license for Crown Melbourne hangs in the balance.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/crown-resorts-begs-for-victoria-license-as-two-more-top-execs-get-chop\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/crown-resorts-begs-for-victoria-license-as-two-more-top-execs-get-chop\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/crown-resorts-begs-for-victoria-license-as-two-more-top-execs-get-chop\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/08\/crown-execs22.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/08\/crown-execs22.jpg\",\"width\":1200,\"height\":923,\"caption\":\"Xavier Walsh (left) and Helen Coonan are out at Crown Resorts as the operator\u2019s Victoria license hangs in the balance. 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He currently focuses his coverage on gaming law, white-collar crime, global money laundering, tribal gaming, politics, and regulation. Philip was the original features editor for poker\u2019s Bluff Magazine and editor for Bluff Europe, which he helped launch. His writing has also been featured in ESPN, Forbes, Time Out, The Sun, and The Daily Star, as well as iGaming Business, eGaming Review, and numerous other industry news and tech websites. His news stories for Casino.org\/news have been linked by The Washington Post, The Daily Mail, People Magazine, and Jimmy Fallon's Tonight Show, among many others. Philip once won $20,000 with 7-2 off-suit. He has been reprimanded for unwittingly playing Elton John\u2019s piano on two separate occasions on both sides of the Atlantic. He became a writer because he is a lousy pianist. Philip lives outside London with his wife and children, where he spends his time agonizing about Arsenal FC. 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