#Crown Resorts

Casino Guru

ClubsNSW says cashless gambling cards is bad for customer loyalty

The Australian gambling industry is undergoing rapid changes. Entain has already begun to phase out its shirt sponsorships for Ladbrokes and Neds. Crown Resorts has been fined AU$200m in Victoria alone. ClubsNSW CEO Josh Landis is not convinced that introducing a cashless gambling card will help stem the tide of crime. $95bn of dirty money is laundered through poker machines every year in NSW and Australia. Poker machines accept cash and this makes it harder to stop money-laundering. The report that outlined the issue originally said that poker machine accept money.
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ClubsNSW says cashless gambling cards is bad for customer loyalty
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Crown Resorts’ Melbourne-based gaming venue has received a mammoth A$120m in fines from the Victorian Gambling and Casino Control Commission.

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A reprimand for the Department for Education and mammoth fine for Crown Resorts, as well as updates from @DraftKings and @PENNEntertain all feature as we recap a selection of last week's headlines.

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Crown handed record AUS$120m fines in Victoria Wednesday 9 November 2022 - 8:01 am The Victorian Gambling and Casino Control Commission (VGCCC) has issued Crown Resorts with two fines totalling a record AUS$120m (£67.5m/€77.5m/US$77.4m) for a seri...

Crown handed record AUS$120m fines in Victoria
Wednesday 9 November 2022 - 8:01 am


The Victorian Gambling and Casino Control Commission (VGCCC) has issued Crown Resorts with two fines totalling a record AUS$120m (£67.5m/€77.5m/US$77.4m) for a seri...
The Age

Crown Melbourne casino fined $120m for breaching gambling laws

Crown Melbourne casino fined $120 million for breaching gambling laws. It is the first time the commission has fined a casino over 24 hours straight. The fine is based on the findings of a royal commission into Crown's suitability to hold a Casino. Crown Resorts has been hit with $200 million in fines since the regulator had its enforcement powers strengthened. The casino is “genuinely remorseful for the failings of the past” and credited its new leadership team for ‘driving a whole-of-company transformation program’ . Its investment in responsible gaming has doubled over the last 18 months.
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Crown Melbourne casino fined $120m for breaching gambling laws
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Gambling News

NSW Gov to Trial Cashless Gaming Machines

The government of New South Wales launches a cashless gaming trial in the state to fight against money laundering practices and gambling-related risks. Approximately 200 Wests Newcastle leagues club members received access to the new casheless gaming technology on Saturday, October 8.
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The Saturday Paper

Casino within a casino: Star’s extraordinary breaches

The Star casino in Sydney lied to the inquiry into its licence. The Star was found unsuitable on Tuesday. The lie followed three inquiries and royal commissions into Crown Resorts. It followed allegations regarding money laundering and criminal influence at TheStar. They were aired on 60 Minutes. This was the day the Finkelstein royal commission into the Crown Melbourne delivered its report. There is a deep stream of misconduct and breathtaking negligence to wade through. In the case of Thestar, the lie was most revealing.
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Casino within a casino: Star’s extraordinary breaches
Financial Review

Casino investors should share in dirty money risks

Star was found unfit to run a casino. James Packer was forced to exit Crown as a condition of keeping the licence. He and other shareholders cashed in handsomely on the sale to private equity. Blackstone is taking over Crown Resorts and its licence and is interested in keeping it. The company is a global private investment group. It is not clear if the company will be able to keep its casino licence in the future.
Finance
Casino investors should share in dirty money risks
The Sydney Morning Herald

Star Entertainment (ASX: SGR) roundly rebuked as casino future remains under cloud

Star Entertainment Group has been found unfit to hold a licence for its flagship casino in Sydney. The Star has 14 days to respond to the NICC’s show-cause notice to prove why its licence should not be revoked permanently. NSW Premier Dominic Perrottet said on Wednesday the performance of TheStar had been “absolutely horrendous” and they would be forced to close if they didn't comply with new regulations. The commission chief Phillip Crawford expressed concern that Thestar's aggressively legalistic approach may be too embedded for repair.
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Star Entertainment (ASX: SGR) roundly rebuked as casino future remains under cloud
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Casino Guru

Star casinos in Queensland allowed a suspicious gambler to carry on

Star casinos in Queensland allowed a suspicious gambler to carry on. The third day of hearings concluded on Thursday with revelations into Star Entertainment Group’s former practices in relation to high roller customers piling on at the casinos. One of the "top 10 table players" at Star Gold Coast casino in the state had been previously banned by police to enter casinos on the Gold coast and in Victoria. He had alleged criminal ties to Calabrian 'Ndrangheta. A final decision to exclude him came only in January 2021. The hearing inquired Howard Steiner, Star”s General Manager for AML and CTF Compliance, and sought his input in this matter.
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Cambodian government renews 70 licenses for casinos and gambling-oriented companies

70 licenses to casino and game of chance companies were renewed in the second quarter of this year. 47 casinos and 7 games of chances were granted licenses on Friday. 16 other licenses were already granted in early June this this years. The licenses are for businesses that had suspended their operations affected by the COVID-19 pandemic for about two years, but they are being renewed to reopen their business. The list of license renewal recipients shows that casinos are in provinces including Banteay Meanchey, Svay Rieng, Kampot, Pailin, Preah Sihanouk and Sokha Hotel Co.
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Cambodian government renews 70 licenses for casinos and gambling-oriented companies
Casino Guru

Crown Resorts Sydney finally opens casino floor

Crown Resorts has launched its gaming floors at the Barangaroo property this Monday. It took the property 18 months to be ready for the official opening. The property had to comply with a number of regulatory demands and overhaul its C-level lineup. Gary Gill from Kroll Consultancy will be overseeing the day-to-day at Crown Sydney’s newly opened gaming floor. ILGA chairman Philip Crawford warns that the focus should not distract from the task at hand. The regulator is ensuring that casinos in New South Wales operate up to the designated standard. Crown Resort's CEO Simon McGrath is confident that they will retain their license after the monitoring period is over.
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Crown Resorts Sydney finally opens casino floor
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Gambling News

The Crown Sydney VIP Casino Finally Opens Doors

Crown Resorts is finally opening its VIP casino at its AUD 2.2 billion ($1.6 billion) integrated casino resort the Crown Sydney. The company faced delays in opening the casino due to investigations around it in multiple states in Australia.
Gaming Authorities
The Crown Sydney VIP Casino Finally Opens Doors
Casino Guru

Australia launches pilot program to tackle gambling addiction

Victoria will become the first state in Australia to launch a pilot program to address gambling addiction. The program will help health professionals screen patients and determine how they can be helped in overcoming their gambling addictions. It will also help treat a number of addictive conditions, including drug and alcohol, and equip healthcare specialists with the tools needed to assist patients with mental help. The pilot is also trying to alter public perception and gamblers' understanding of their issue. There is no stigma associated with gambling and people should step forward and speak up. Minister for Consumer Affairs, Gaming and Liquor Regulation Melissa Horne said that gambling is a complex issue and needs a broader understanding.
Gambling Addiction
Australia launches pilot program to tackle gambling addiction
Casino Guru

VGCCC investigates Crown Melbourne’s responsible gambling

VGCCC is investigating Crown Melbourne's responsible gambling obligations. The regulator can issue a penalty worth AU$100m, change the license status or censure Crown. The Royal Commission found a systematic pattern of breaches of the Responsible Gambling Code of Conduct. Victoria G gambling and casino control commission is a new watchdog. It will investigate the case for the foreseeable future. They want to send a strong message that no transgression will go unpunished. A casino license holder must do its best to protect vulnerable patrons. In Victoria, a casino licence holder can be revoked if it does not live up to the expected standard.
Gambling Addiction
VGCCC investigates Crown Melbourne’s responsible gambling
Casino Guru

Austrac urges gambling companies to step up in tackling money laundering

Crown Resorts and Star Entertainment were fined for money laundering violations. Austrac wants to make sure that the gambling industry in Australia is prepared to meet the required standards. The regulator had just settled a record $45m penalty with Tabcorp. Nicole Rose urged everyone to do their best and help maintain Australia's financial status and preeminence. She warned that global regulators may place the entire country on their grey lists. Australia has a poor track record with money laundry. It is an OECD member. In 2016, Austrairic warned of the risks of not being able to comply with global anti-money laundering standards and restore the country's reputation.
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Austrac urges gambling companies to step up in tackling money laundering
The Islander

Star top brass to continue casino evidence

Star Entertainment's chief casino officer for NSW, Greg Hawkins, will continue his testimony at the inquiry into the fitness of Star to hold a Sydney casino licence. The Star Entertainment CEO Matt Bekier resigned last month in the wake of evidence given at a high-profile inquiry. Other Star executives to continue their testimony this week are Harry Theodore, Mr Bember and McGrath Nicol partner Robyn McKern.
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Star top brass to continue casino evidence
Recent Slot Releases

Global Gambling Market Opportunities and Strategies Report 2022-2030: Shift In Interests Towards Online And Physical Sportsbook Betting

The global gambling market reached a value of nearly $465,763.9 million in 2020. The market is expected to grow from $674,703. 9 million to $895,720.3 million by 2030 at a CAGR of 5.8%. The gambling is segmented by type into casino, lotteries, sports betting and others. Lotterie market was the largest segment by kind, accounting for 52.5% of the total market in the 2020, followed by sports gambling. Online gambling was also the fastest growing segment, with a 17.7% CGR. Asia Pacific was largest region in gambling, and accounted for 38.2% in total in 2010.
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Global Gambling Market Opportunities and Strategies Report 2022-2030: Shift In Interests Towards Online And Physical Sportsbook Betting
The West News

Why do Australians Love to Gamble so much?

Australians are some of the most avid gamblers in the world. Billions of dollars are wagered in Australian casino, sports betting, and lottery industries annually.
Lottery
Why do Australians Love to Gamble so much?
European Gaming

Crown’s Barangaroo Casino to be Open Within Weeks

Crown Resorts' casino at its new Barangaroo property in Sydney is likely to be open on a conditional basis within weeks. The Australian operator opened the new resort in December 2020, but was unable to open the gaming floors after being found to not be suitable for a gaming license. Crown has replaced its board of directors and overhauled its corporate procedures in the fields of financial crime, risk, compliance and responsible gaming. The company reported its half year results on Feb. 17.
Gaming Authorities
Crown’s Barangaroo Casino to be Open Within Weeks
Review Journal

Las Vegas casino landlord Blackstone buying Australia’s Crown Resorts

Blackstone will buy Australia's Crown Resorts for AU$13.10 per share in cash. The buyout values Crown at about US$6.4 billion. Blackstone has a heavy presence on Las Vegas Boulevard, having acquired several hotels for billions of dollars over the past several years. James Packer, Crown's largest shareholder, controlled 36.8 percent of its stock as of last summer. Packers' latest attempt to gain a foothold on the Strip was with the never-built Alon Las Las. Vegas project.
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Las Vegas casino landlord Blackstone buying Australia’s Crown Resorts
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Blackstone Poised to Become Biggest Aussie Gambling Operator

Blackstone Inc. is offering A$13.10 per share for Crown Resorts. The offer is 4.8% higher than the previous one. It's conditional on approval from the board and state gambling regulators. Crown's gambling license was suspended in December 2020. It is the largest employer in Victoria State, where it runs the biggest casino in the southern hemisphere. Its share price has never looked like a gambling operator that isn't allowed to run gambling halls. it's too big to fail. If successful, Blackstone will become the biggest gambling Operator in Australia.
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Blackstone Poised to Become Biggest Aussie Gambling Operator
European Gaming

LAYING THE FOUNDATIONS FOR A NEW CASINO REGULATOR

The Independent Liquor & Gaming Authority has announced practical interim arrangements to support the establishment of a standalone casino regulator. The interim arrangement will enhance the management of existing and emerging risks in the current casino regulatory environment. The Government agreed to back all 19 recommendations from the Bergin Inquiry Report on the regulation of casinos in NSW in August 2021. Work started to redesign the regulatory structure of NSW casinos with a view to introducing legislative changes to parliament in mid-2022.
Gaming Authorities
LAYING THE FOUNDATIONS FOR A NEW CASINO REGULATOR
Gambling News

NSW's Chief Gambling Regulator Asks for Money Laundering Investigation into Pub Slots

NSW's Chief Gambling Regulator Asks for Money Laundering Investigation into Pub Slots. Independent Liquor and Gaming Authority chairman Philip Crawford wants to investigate the possibility of money laundering activities unfolding inside non-gaming venues in New South Wales. NSW is home to 95,000 poker machines. Most of them are found in hotels, clubs, pubs and other similar non. gaming venues. They bring the state close to $710 million in taxes and offer steady jobs for more than 100,00 people.
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NSW's Chief Gambling Regulator Asks for Money Laundering Investigation into Pub Slots
Legit Gambling

Fitch Says Two Key Issues Will Slow Casino Growth In 2022

Fitch Ratings says COVID-19 and regulatory concerns will impact casino industry in 2022. Countries that have quicker vaccine rollouts, higher vaccination rates and the mentality of living with COVIID- 19 should see an improvement in their casino gaming market.
Covid
Fitch Says Two Key Issues Will Slow Casino Growth In 2022
Gambling Insider

Fran Thorn appointed Victorian gambling regulator Chair

Fran Thorn has been appointed as the inaugural Chair of Victoria's new gambling regulator. She will help establish the Victorian Gambling and Casino Control Commission (VGCCC) for three years starting 1 January 2022. The new regulator takes over regulation from the Commission for Gabbling and Liquor Regulation. Alcohol regulation will be transferred to the Department of Justice and Community Safety.
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Fran Thorn appointed Victorian gambling regulator Chair
Small Caps

Crown pushes the share market casino into action

Blackstone has renewed its offer for Crown Resorts. The main condition of the bid is that Crown keeps its three casino licences. Star withdrew its earlier $12 billion merger proposal with Crown in July. The big question is whether James Packer will be amenable to the offer. He usually only accepts offers that begin above $13 a share. A bidding war would be the ideal solution for shareholders.
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Crown pushes the share market casino into action
The Guardian

Crown Resorts: can a ‘special manager’ clean up Melbourne’s casino?

Crown Resorts' Melbourne casino has been accused of misconduct. Ray Finkelstein's report found it facilitated money laundering, failed to stop addicts from gambling excessively and underpaid state gambling taxes. The report recommended installing a special manager to clean up the casino. However, the Victorian government agreed to pay Crown up to $200m if it removed the company's casino licence or imposed conditions on it. In New South Wales, Crown will not be given a licence to open its high roller casino in the $1.7bn Barangaroo tower until it has satisfied an expert that it's reformed itself.
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Crown Resorts: can a ‘special manager’ clean up Melbourne’s casino?
World Casino News

Two-jab mandate for Macau casino employees

The firms behind the 41 casinos in Macau have implemented new rules that require employees to be fully vaccinated or present weekly negative viral diagnostic tests. The new regime has been implemented by Sands China Limited, MGM China Holdings Limited and Melco Resorts and Entertainment Limited.
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Two-jab mandate for Macau casino employees
European Gaming

INTERIM LIQUOR LICENCES APPROVED FOR CROWN’S BARANGAROO CASINO

The NSW Independent Liquor & Gaming Authority has approved three interim liquor licences for Crown’s Barangaroo resort. The licences will expire on 30 June 2022. ILGA is still monitoring Crown's gaming operations. The Authority is also assessing Crown Resorts' response to the Bergin Report.
Gaming Authorities
INTERIM LIQUOR LICENCES APPROVED FOR CROWN’S BARANGAROO CASINO
The Sydney Morning Herald

Star casino linked to organised crime, money laundering, foreign influence

Star Entertainment has been enabling suspected money laundering, organised crime, large-scale fraud and foreign interference within its Australian casinos for years. The Star Entertainment Group runs casinos in Sydney, Brisbane and the Gold Coast. It cultivated high-roller gamblers who are allegedly associated with criminal or foreign-influence operations. They were wooed by Star with luxury goods, free hotel rooms and other incentives. The firm’s failings are exposed in internal company documents, court cases and law-enforcement intelligence briefings.
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Star casino linked to organised crime, money laundering, foreign influence
Asgam

Crown Resorts falls to US$191 million loss in FY21 on Melbourne, Sydney casino closures

Crown Resorts has reported a loss of AU$261.6 million (U$191.2 million) in the 12 months to 30 June 2021. Revenue fell 31.3% year-on-year to AU $1.54 billion ( U$1 billion) with limited operations at both Crown Melbourne and Crown Sydney seeing EBITDA fall 77.4% to $83.1 million. VIP play contributed just AU600,000 ($439,00) compared with AU-352.5 million a year earlier. Online gaming arm Crown Digital grew 8. 5% and EBTDA rose 46. 3%.
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Crown Resorts falls to US$191 million loss in FY21 on Melbourne, Sydney casino closures
Markets Insider

Casinos And Gambling Market to grow by USD 82.09 billion

Casinos and gambling market is expected to grow by USD 82.09 billion during 2020-2024. The market growth is driven by the growing popularity of online gambling. The increasing use of social media marketing is also expected for the market's growth. Report analyzes the report by platform (Offline and Online) and geography (APAC, Europe, North America, MEA, and South America).
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Casinos And Gambling Market to grow by USD 82.09 billion
The Nation Roar

Australia’s Gambling Sector Heading for Watershed Changes

Gambling is a popular pastime in Australia. People there enjoy playing luck and skill based games. The country is famous for its casinos and resorts. It is also a well-known gambling tourist destination. The number of people playing traditional gambling games has grown over the last decade.
Industry
Australia’s Gambling Sector Heading for Watershed Changes
CoinGeek

New South Wales to pilot cashless gaming trial-can BSV help?

The trend towards cashless payments is picking up pace across the globe. New South Wales will pilot a cash-free payment program for gamers in the state. It will enable players to use digital wallets to make payments during a trial period at the end of 2021.
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New South Wales to pilot cashless gaming trial-can BSV help?
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The Star Sydney Casino Closes Over COVID-19 Lockdown

The Star Sydney casino resort has suspended all operations for at least a week because of new COVID-19 restrictions in the region. The restrictions were put into place on Friday to counter rising virus cases. Case numbers had risen to 65 by Friday morning. Four local government areas in NSW, including the City of Sydney, went into lockdown at 11:59pm on Thursday.
Covid
The Star Sydney Casino Closes Over COVID-19 Lockdown
Eminetra

Austrac Accuses A Range of Aussie Casinos for Money Laundering

Austrac is the financial watchdog in Australia. It is concerned about money laundering taking place at land based casinos throughout the country. In the past, the online casino industry was smeared with moneyaundering allegations and Australia passed legislation banning all forms of online gambling.
Incidents
The Wall Street Journal

Blackstone’s Crown Deal Has Dice Loaded in Its Favor

Blackstone has offered $6.2 billion to buy Crown Resorts. The private equity giant already owns 10% of Crown. Crown's recent troubles include a report that found the company had problems with its license for its new Sydney casino and two royal commissions. Billionaire James Packer owns a third of the Crown and he may have to sell his stake. Blackstone is no stranger to casinos. It bought stakes in some Las Vegas resorts and casinos, including Bellagio and MGM Grand from MGM Resort in 2019 and 2020.
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Blackstone’s Crown Deal Has Dice Loaded in Its Favor
The Wall Street Journal

Major Sydney Casino Opening Overshadowed by Investigations

Crown Resorts Ltd. is the company behind the $1.6 billion casino-resort development in Sydney. The company is being investigated for money laundering and corporate conduct. Crown denies any deliberate wrongdoing. It has suspended its activities with junket operators.
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Major Sydney Casino Opening Overshadowed by Investigations