Crown Casino Melbourne
Crown Casino Melbourne – Crown Resorts can keep its Melbourne casino license but a royal commission has recommended a special regulator to oversee operations over the next two years. Photo: Darrian Traynor/Getty Images
Crown Resorts will be allowed to keep its license to operate a profitable Melbourne casino, under strict new conditions, despite a royal commission finding the company engaged in “unlawful, dishonest, unlawful and exploitative conduct”.
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In his report, which was presented to the Victorian parliament on Tuesday, commissioner Ray Finkelstein, said there were “a series of shortcomings” in the way the Crown deals with laws against money laundering and “facilitated money laundering” through bank accounts. held by a subsidiary company.
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But instead of revoking the company’s license, a special manager has been recommended to oversee the casino’s operations for the next two years.
The Victorian government has accepted a proposal that says the license will be canceled unless the Crown can convince the casino regulator that it has changed in the meantime.
The state government has also accepted Finkelstein’s recommendations to increase the maximum fine for breaking the casino rules from the current 1m. The commissioner suggested $10 million, but the government said the figure would rise to $100 million.
Laws forcing the government to pay compensation to the Crown if it changes casino regulation in a way that is unfavorable to the company will be removed.
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Finkelstein, a former federal court judge, also found efforts by the Victorian Gambling and Liquor Control Commission – which will lose responsibility for overseeing casinos under changes already announced by the state government – to investigate the Crown were hampered by “a deliberate failure to cooperate and be honest on the part of Crown Melbourne and its senior management”. .
“Many senior managers involved in misconduct are not interested in their moral, ethical and sometimes legal responsibilities” and lawyers who knew that the Crown wanted to engage in misconduct “failed to advise Crown Melbourne not to proceed”, he said.
But Finkelstein said, “somewhat grudgingly”, he concluded that despite the Crown’s misconduct, there was a “real risk of serious harm to the Victorian economy and innocent outside parties if Crown Melbourne’s license was revoked immediately”.
He said he also believed that “Crown Melbourne has the will and power to transform itself so that it can once again be the right person to hold a casino license and remove the stain from its reputation”.
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Among 30 other recommendations, Finkelstein said James Packer’s investment company, Consolidated Press Holdings, should be forced to reduce its 37% stake in Crown to less than 5% by September 2024 after it “abused its position as a shareholder outstanding, including maintaining significant control over the company’s affairs, even after he steps down as chairman in 2018”.
He also proposed significant reforms to the way casinos are run and regulated – many of which return the system to the way it was supposed to work in the early 1990s.
He said junkets that bring high-rollers with high profits from abroad should be banned forever. Crown suspended the junkets in May and said it had no plans to resume them.
Finkelstein also said that to combat problem gambling all games should be on cards and strict time limits should be introduced.
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In a statement to the stock exchange, the Crown said it was “currently reviewing the report and the Victorian government’s response”.
“The Crown will engage constructively with the Victorian government about the report’s findings and recommendations and their response.”
The Prime Minister, Daniel Andrews, stopped Finkelstein’s investigation after the New South Wales investigation, chaired by ex-judge Patricia Bergin, found that the Crown organized the transportation of money from its casinos in Melbourne and Perth and that other junket operators were linked to organized crime.
The investigation of Bergin follows the publication of the “Crown Unmasked” series, which made a series of serious allegations about the casino company, by Nine Entertainment, the current TV 60 Minutes and newspapers. The Victorian state government said on Monday it issued a directive requiring Crown Melbourne to update its Responsible Gambling Code, including stricter limits to be placed on how long people can gamble each day and each week.
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Under the new code, which is due to be implemented over the next six months, anyone gambling for three continuous hours will be required to take a 15-minute break. Anyone who gambled for 12 hours in any 24-hour period had to take 24 hours off while no one was allowed to gamble more than 36 hours in a week.
Any breach of the code could lead to disciplinary action from the Victorian Gambling and Casino Control Commission, with a maximum fine for any breach of AU$100 million (US$67 million).
The implementation of the new code raises additional questions about the future of Aussie millions – or any major tournament series – in Crown Melbourne due to the difficulty of fitting these important events into small daily and weekly windows.
However, Crown itself has not given up on returning poker to the tournament in Melbourne, telling The Australian in January that it “continues to work with a range of stakeholders on new ways to bring together the global poker community and we look forward to sharing more with the Aussie. Millions soon.”
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Crown also described the Aussie Millions as “an iconic part of poker history [bringing] some of the world’s most famous players to Crown Melbourne.”
Aussie Millions, Australia’s premier poker site since 1998, was completed in early 2020 but the COVID-19 pandemic and regulatory issues have prevented its return for the past three years.
Following the devastating findings of a high-profile Royal Commission into its operations – which ultimately saw the Crown deemed unfit to retain a casino license – Crown Melbourne is now under the supervision of an independent inspector as a new senior management team works together to deliver. back to handling.
Announcing Crown Melbourne’s latest requirements, Victoria’s Minister for Casino, Gaming and Liquor Control, Melissa Horne, said, “This direction reflects my expectation that Crown must aim to be a world leader in reducing the risk of gambling – or lose their licence. .
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“Crown is on track to implement mandatory binding on all electronic gaming machines by the end of this year. When combined with a strengthened code of conduct, damage reduction protections will be world leading for a casino of this size.
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From world-class restaurants and award-winning hotels, to world-class table games and endless entertainment, Crown Rewards helps you discover the world of Crown – and get rewarded.
Responsible gaming occurs in a controlled environment where the potential for sports-related injuries is minimized and people make informed decisions about their participation in sports.
Crown has made many changes to the way we provide our services. It is Crown’s responsibility to ensure that approved identification, personal information and, in some cases, financial information is updated for our customers.
Our Code of Practice aims to reduce the risk of people using Crown funds illegally. You can play an important role in helping us protect the public by monitoring our processes and disclosing certain information to the Crown on request.
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Crown Melbourne management reserves the right to refuse entry to any person deemed inappropriately dressed. Customers must dress smart casual and remain clean and tidy at all times while in the Casino. Managers reserve the right to exercise their discretion at all times. Note that for safety reasons the conductors may require the removal of any hats, helmets or headgear.
Crown Melbourne Casino operates 24 hours a day, seven days a week except Christmas Day, Good Friday and ANZAC Day. The Casino doors are closed on these special days from 4am to 12 noon on the same day.
The Australian Government of Australia has placed an Internet Gaming Moratorium that prevents Australian operators from doing so.
You can email us through our contact page or call +61 39292 8888 to speak to one of our Customer Relationship Advisors.