Crown Resorts Sydney Casino Launch On Hold Pending Inquiry Outcome
The New South Wales gaming regulator, the Independent Liquor & Gaming Authority (ILGA), has recommended that Crown Resorts postpone the launch of its Sydney casino. This declaration follows a protracted investigation into Crown’s business practices, initiated by accusations of money laundering at its casinos by organized crime groups and the 2016 conviction of its staff in China for illicit gambling promotion.
Trading of the company’s shares was suspended on Wednesday after the ILGA determined that a casino license should be withheld pending the outcome of the inquiry. Retired Justice Patricia Bergin, presiding over the inquiry, is expected to submit her report in February 2021.
ILGA Chair Philip Crawford remarked that the testimony presented during the Bergin Inquiry hearings was deeply troubling. He emphasized that permitting gambling activities to proceed at the casino prior to the release and examination of the inquiry’s findings by the Authority would present an intolerable threat to the public and contravene the common good. Consequently, the Authority maintains that it would be improper to reach a decision on the application before receiving the conclusions of the Bergin Inquiry.
At the beginning of the week, Crown Resorts declared it would sever connections with all VIP gaming promoters to demonstrate to New South Wales regulators its suitability to manage its recently established Sydney casino. This follows a damaging public investigation where the corporation’s legal representative, a well-known lawyer named James Young, contended that previous errors should not preclude the company from retaining its operating permit.
