Casino
June 9, 2022
Crown Resorts CEO to Make Sydney a Casino Industry Benchmark
Crown Resorts is awaiting a verdict that could leave it short of a license in New South Wales, but while anticipation builds up company chief executive officer Steve McCann feels optimistic about the future and the role Crown Sydney can play in establishing a new benchmark for casino operators anywhere in Australia. Crown CEO Hopeful […]
Casino
June 6, 2022
New Job Ads Signal Crown Sydney Casino Might Get License After All
New job ads for casino personnel at Crown’s Sydney venue signal that the venue may be turning a new page officially. Updates and official statements are still upcoming. Job Ads Mean Business The Bergin inquiry into Crown’s operational activities found the Sydney property was “unfit” for a license after it concluded the year-long review process […]
Casino
June 1, 2022
Crown Resorts Financial Profile to Remain Fairly Intact by VGCCC Penalty
The close-to-$60 million (AU$80 million) fine that was slapped on Crown Melbourne in Australia is not very likely to have an immediate negative bearing on the property’s financial results. Following the issuance of the penalty by the Victorian Gambling and Casino Control Commission or VGCCC for its acronym, credit rating agency Fitch looked into the […]
Legal
May 26, 2022
Queensland to Reform Gambling Laws amid Star Inquiry
Queensland plans to introduce new gambling laws instead of launching inquiries against operators, the government announced. This comes amid ongoing action against Star Entertainment in other Australian states. Queensland Plans to Introduce New Laws In the wake of the recent inquiries against Star Entertainment Group and Crown Resorts, Queensland realized that it needs to introduce […]
Casino
May 25, 2022
Crown Melbourne May Face Legal Action after Supercar Valet Theft
An incident at Crown Casino in Melbourne is raising concerns about Crown Resorts’ security protocols after a $500,000 luxury car was taken from the casino’s parking but not by the person who had left it there. Security Protocol Failure Around 3am on Sunday, a valet attendant at Crown Melbourne gave the keys to a luxury […]
Legal
May 25, 2022
VGCCC Announced EGM Rules at Crown Melbourne
The Victorian Gambling and Casino Control Commission (VGCCC) has prepared a new set of restrictive regulations at Crown Melbourne. This comes after Crown Resorts announced its interest in better understanding what the newly imposed electronic gaming machines (EMG) tax levy would mean for its operations. The tax would generate up to AU$30 million ($21.3 million) […]
Business
May 24, 2022
Crown Resorts’ $6.5B Acquisition Pending Final Court Hearing
Australian land-based casino operator Crown Resorts announced in a filing with the Australian Securities Exchange (ASX) today that it has filed materials conccerning the proposed acquisition by Blackstone with the Federal Court of Australia. Final Court Hearing Date Pending Last week, Crown Resorts shareholders voted to almost unanimously approve the proposed transaction by way of […]
Industry
May 20, 2022
Crown Investors Approve Blackstone’s Takeover Bid
As Blackstone prepares to acquire Crown Resorts, the casino company inquired about its investors’ opinion on the deal. As it turns out, most of them support the takeover. Crown’s Shareholders Approve the Scheme Blackstone, an American investment management company, announced its intentions to acquire Crown Resorts. The Australia Foreign Investment Review Board reviewed the deal […]
Casino
May 3, 2022
Crown Resorts Wants to Better Understand New EMG Tax Levy
Crown Resorts has accepted its fate that for better or for worse it will have to prove its reputation as a reliable gaming giant in Australia once again. The next two years will be challenging, but it all seems to be going well. However, the company is not exactly sure it understands the motivation behind […]
Casino
May 2, 2022
Victoria’s Officials Set Aside $39.3 million to Increase Crown Melbourne Surveillance
Victoria’s state government officials have made up their minds regarding the amount they would dedicate to stronger oversight of Crown Melbourne’s operations. The 2022/23 yearly budget will put aside AU$55.6 million (US$39.3 million) for the implementation of a series of Royal Commission recommendations regarding the iconic venue. The Money Will Assist Special Manager Stephen O’Bryan’s […]
