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Australia Australia's Crown Resorts needs changes to 'save itself', regulator says

02:32  10 february  2021
02:32  10 february  2021 Source:   reuters.com

NSW's Crown inquiry to report on probity

  NSW's Crown inquiry to report on probity Commissioner Patricia Bergin will hand her findings and recommendations about Crown Resort's fitness to run a Sydney casino to the regulator.The NSW Independent Liquor and Gaming Authority gave commissioner Patricia Bergin until Monday to hand over her findings and recommendations on Crown's suitability to hold a casino licence.

(Reuters) - Australia ’ s Crown Resorts Ltd said on Wednesday two directors nominated by top shareholder James Packer have resigned, a day after a critical report by an industry regulator deemed the casino giant unsuitable to hold a gambling licence. The report published on Tuesday found Crown is unfit to hold a gaming licence for its flagship new Sydney resort unless it makes sweeping changes to its board and culture. Guy Jalland and Michael Johnston, both nominees of Packer’s holding company, had resigned, Crown said in a one line statement.

That means Crown will probably need to make wholesale changes to the board in the next few months. She also suggested enforceable undertakings which might include timetables for Crown to improve money-laundering controls and better train staff. “The final report and recommendations will inform any regulatory action which may be required in Victoria and may also be relevant to previous work done by the commission,” CEO, Catherine Myers said ahead of the release of the Bergin report. She said VCGLR had been working on a series of issues within its regulatory remit relating to Crown

SYDNEY (Reuters) - Australian casino company Crown Resorts Ltd will need to undertake lots of changes "to save itself", a state gambling watchdog said on Wednesday, after a report suggested Crown was unsuitable to hold a gambling license for its resort in Sydney.

a close up of a tall building: FILE PHOTO: The logo of Australian casino giant Crown Resorts Ltd adorns the hotel and casino complex in Melbourne, Australia © Reuters/JASON REED FILE PHOTO: The logo of Australian casino giant Crown Resorts Ltd adorns the hotel and casino complex in Melbourne, Australia FILE PHOTO: The logo of Australian casino giant Crown Resorts Ltd adorns the hotel and casino complex in Melbourne, Australia © Reuters/JASON REED FILE PHOTO: The logo of Australian casino giant Crown Resorts Ltd adorns the hotel and casino complex in Melbourne, Australia

"They've got a lot of work to do to satisfy us. ... We'll have a dialogue with Crown to see what they can do. I hope that they cooperate," Philip Crawford, chair of New South Wales (NSW) state casino regulator, told reporters.

Uneasy lies the Crown on James Packer’s head as Bergin inquiry tenders its report

  Uneasy lies the Crown on James Packer’s head as Bergin inquiry tenders its report So much more than a licence is at stake: the future of the reclusive billionaire's casino dynasty hangs in the balance.Former Supreme Court judge Patricia Bergin will hand to NSW state parliament today her highly anticipated report into whether the casino giant should keep its Barangaroo licence.

A counsel assisting the Crown Resorts inquiry says the group's decision last year to quash an investigation into money laundering in its bank accounts and only admit it likely occurred after being forensically exposed through the year-long public probe shows it is "unable to govern itself ". The inquiry – which was launched in response to a series of reports by The Age, The Sydney Morning Herald and 60 Minutes – concluded its public hearings on Friday after a marathon 60 days of examinations that trawled through the inner workings of one of Australia ' s largest and most powerful

SYDNEY, Feb 9 (Reuters) - Australian casino giant Crown Resorts Ltd CWN.AX was not a "suitable person" to hold a gambling licence, a pivotal report commissioned by an industry regulator said on Tuesday. Crown was initially granted a gambling licence for a A.2 billion (.70 billion) casino tower in Sydney several years ago, but the New South Wales state Independent Liquor and Gaming Authority (ILGA) suspended the licence pending a review prompted by media reports alleging company dealings with organised crime groups.


Video: Report finds Crown not suitable to operate Sydney casino (ABC NEWS)

The regulator's report, published on Tuesday, followed a year-long inquiry commissioned by NSW state gambling watchdog that aired allegations of widespread money laundering and governance failures at Crown Resorts.

(Reporting by Renju Jose; Editing by Leslie Adler)

Crown Casino Perth inquiry recommended by WA regulator after scathing NSW report .
WA's Gaming and Wagering Commission recommends an independent inquiry be established into Crown's suitability to hold the state's only casino license following last week's scathing report in New South Wales.The recommendation has been made after an urgent meeting of the Gaming and Wagering Commission (GWC), with WA Police Deputy Commissioner Col Blanch among those present at the meeting.

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