IAG: Victorian Regulator Prepares for Worst Case Scenario in Crown Melbourne Saga
An exclusive interview by Inside Asian Gaming and VGCCC CEO Annette Kimmitt reveal what the regulator would do if Crown Melbourne is found unsuitable to hold a license
Crown Melbourne the Victoria-based property, which is currently under a special supervision regime, is expected to be restored to full operations early next year. Before this happens, however, the Victorian Gambling and Casino Control Commission would have to decide on the operator’s suitability first.
VGCCC Prepares for Transition-out Plan
Should Crown Melbourne fail, though, the VGCCC already has what Kimmitt has described as a Plan B, which could see the regulator make sure the property runs even if the iconic operator is no longer deemed capable. Kimmett dismissed media speculation that properties are too big to fail – failure was an option, she said, and it was up the newly-setup regulator to find a way to move past a worst-case scenario.
Presently, the Melbourne casino is still under a special monitoring regime, carried out by a Special manager, and will continue to be so until next year when a final decision ought to be made. Stephen O’Brien, who supervises the remediation efforts undertaken by Crown, will make recommendations to the VGCCC at the end of this year and seek to help the regulator arrive at a decision.
The commission though is not shy about what would happen if Crown failed. According to Kimmett’s interview with Inside Asian Gaming, the regulator and Crown are already working out a “transition-out plan.” This is done in order to ensure that jobs remain intact and that the property, which is an important part of the state’s economy, remains open and thriving.
Crown Continues to Collaborate Fully
Kimmett confirmed that Crown has not baulked at the suggestion, and the team at the operator has been cooperating fully with the VGCCC. Crown is now the property of Blackstone, a global investment group, which did not hesitate to acquire the beleaguered casino brand even though it faced multiple legal challenges in Australia.
“What was really pleasing in working with Blackstone is that when we put to them that much higher bar of expectations, they signed up to it,” Kimmett said Despite the plan, though, things so far seem to be looking up for Crown and Blackstone who are confident that they will be able to restore their reputation with the regulator and continue business as usual from 2024 onwards.
Although Fiona doesn't have a long-spanning background within the gambling industry, she is an incredibly skilled journalist who has built a strong interest in the constantly growing iGaming network. The team at GamblingNews.com is glad to have her on our roster to help deliver the best stories as soon as they hit. Aside from writing, she loves to dabble in online casino games such as slots and roulette, both for her own enjoyment and also as research to better improve her understanding of the industry.
