Legal
February 9, 2021
Crown Resorts Found Unsuitable to Hold NSW Casino License
Crown Resorts were dealt a significant blow to their business plans after the final report from the New South Wales (NSW) inquiry found the casino operator unsuitable to hold a casino license for its new AU$2.2 billion resort in Barangaroo near Sydney. Unsuitable for Casino License The damning verdict of the report submitted Tuesday afternoon […]
Casino
January 3, 2021
Packer Allegedly Meets with Adelson, Fuels Crown Sale Rumor
An encounter in the French Caribbean further fueled speculation Crown Resorts’ major shareholder James Packer is looking for the way out of the company, seeking to cash in on his 36% stake in the casino and hospitality operator. Multi-Million Yachts Docked Beside Each Other James Packer celebrated New Year’s Eve on board of his $200 […]
Casino
January 2, 2021
China Decided Crown Sydney’s Fate Ahead of License Decision
Long-awaited opening of Crown Resorts’ new AU$2.2 billion casino resort in Barangaroo near Sydney happened Monday, but casino operations did not commence as the Independent Liquor and Gaming Authority (ILGA) blocked the ASX-listed company from opening its casino until a final decision regarding its casino license is reached. ILGA Final Decision Pending Following on Crown’s […]
Casino
December 28, 2020
Crown Resorts Introduces New Transfer Funds Requirements
Crown Resorts is desperately seeking to improve its compliance ahead of an urgent review of its casino license in Victoria by the state government. The casino operator announced new requirements related to transfers of money to its properties in Melbourne and Perth. Money Transfers Only from Personal Bank Accounts According to the new measure aimed […]
Casino
December 28, 2020
Crown Resorts Sydney Hotel Opens Doors, Casino Stays Shut
The newest Crown Resorts property in Sydney, Australia, opened its doors today. Although visitors can enjoy the hotel, multiple restaurants and bars, the property’s casino remains closed for the moment. Crown’s Property in Sydney Opens Doors without Its Casino Crown Resorts’ newest venue located in Sydney, Australia opened its doors for visitors today. Although the […]
Legal
December 14, 2020
Crown Faces Class Action Lawsuit Requesting Share Buyback
Australian casino operator Crown Resorts is in all sorts of trouble recently, the latest being a class action lawsuit, a local media reports. Maurice Blackburn Lawyers filed a new class action against the gambling company alleging its failures in corporate governance and risk management caused damage to investors as the share price sank more than […]
Casino
October 21, 2020
Crown Resorts Terminates Agreements with CPH and James Packer
James Packer’s Consolidated Press Holdings (CPH) had two agreements with Crown Resorts terminated ahead of the annual general meeting (AGM) of Crown’s shareholders. No More Privileged Shareholder Information Crown Resorts announced Wednesday, October 21, it had terminated the Controlling Shareholder Protocol, an agreement dated back to October 31, 2018, under the terms of which confidential […]
Legal
October 6, 2020
NSW: James Packer Told the Inquiry He Has Impaired Memory
James Packer, the businessman behind Crown Resorts, told commissioners from the independent inquiry his bipolar disorder badly affected a lot of his past actions. The casino mogul appeared for the first time in front of the inquiry members Tuesday afternoon. The Independent Liquor and Gaming Authority (ILGA) in New South Wales (NSW) continues with hearings […]
Business
July 24, 2020
Crown Resorts Takes Cashless Payments for Test-Run at Perth
Responding to “societal changes” and hurrying up to adapt to the COVID-19 world, Crown Resorts announced that it would use cashless payment options at Crown Perth. The intiative is currently in test mode and will start on Monday, July 27. Crown Perth to Launch Cashless Payment Test Starting on Monday, casino guests at Crown Perth […]
Business
April 16, 2020
Star Entertainment and Crown Resorts Cut Executives Pay
Australia’s largest casino operators, The Star Entertainment Group and Crown Resorts, have adopted measures to weather the COVID-19 occasioned lockdown without taking too much of a financial hit. Crown Resorts and The Star Entertainment Group Updated Securities Filings Australian casino giants have taken serious pay cuts across their executive staff to help weather the coronavirus […]