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The NSW gambling regulator has formally decided that James Packer’s Crown Resorts is not fit to hold a licence to operate a new casino at Barangaroo in Sydney.
This follows a scathing report tabled in NSW parliament last week that found Crown facilitated money laundering and junkets that brought high-rollers to its existing casinos in Perth and Melbourne were connected to organised crime.
MELBOURNE: Crown Resorts Limited (ASX: CWN) (Crown) announced that it has received a letter from the New South Wales Independent Liquor and Gaming Authority (ILGA) which says that, having regard to the contents of the Commissioner’s report of the inquiry under section 143 of the Casino Control Act 1992 (NSW) (Act), it presently considers that Crown Sydney Gaming Pty Ltd (Crown Sydney Gaming) is no longer a suitable person to give effect to the Restricted Gaming Licence in New South Wales and the Act, and that Crown Sydney Gaming has breached clause 14(a) of the VIP Gaming Management Agreement (VIP GMA)
Some more detail on that process:
Breaking: Scott Morrison says Prime Minister and Cabinet deputy secretary Stephanie Foster will work to review processes for workplace allegations. An automatic reporting obligation to department officials will be established. https://t.co/XHw8qdQw5q