Crown Resorts finds itself in the news again, this time due to an agreement to eliminate cash transactions at its properties as part of a settlement reached with New South Wales regulators.
This action comes as the corporation strives to overcome a money laundering controversy and the resulting investigation that significantly impacted its business. Although the Independent Liquor and Gaming Authority (ILGA) recognizes Crown’s attempts to recover its Sydney casino permit, a final determination will be postponed until they can demonstrate the successful implementation of the required organizational reforms.
It is reported that cash will be progressively removed from Crown’s gaming venues in Sydney, Melbourne, and Perth, although a precise schedule has not been disclosed.
A spokesperson for Crown indicated that this will be a phased approach, prioritizing the customer journey, and a firm timeline remains undecided.
Further complicating matters, in addition to the scrutiny in Sydney, Crown’s Perth casino is also under examination by a royal commission following revelations from the Bergin Inquiry that uncovered money laundering operations occurring at the Perth location.
Amidst the continuing investigation, Duncan Ord, the director of Western Australia’s gaming regulatory body, has declared his intention to retire later this year.
The top official in Western Australia, Mark McGowan, commended government employees for their crucial contributions throughout the health crisis. He alluded to possible personnel adjustments, noting the imminent exit of three agency heads. McGowan expressed gratitude for their efforts and extended his best wishes. This development coincides with Crown Resorts’ recent appointment of Steve McCann as their new chief executive, amidst a takeover attempt by Star Entertainment.
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