The New South Wales Independent Casino Commission has announced that Crown Resorts’ Crown Sydney property has been found suitable to retain its casino licence.
Crown noted that it has invested AUS$200m across its business to transform operations, including implementing “extensive reforms across harm minimisation, financial crime, governance, compliance and risk”.
The transformation has been led by new ownership and executive leadership following Crown’s acquisition by Blackstone in June 2022, as well as new boards including Crown Sydney’s board under Chair John Borghetti.
Improvements implemented at Crown Sydney include “rigorous standards to deter and detect money laundering as part of its ongoing focus on financial crime prevention”, as well as cashless gaming on all electronic table games and its harm minimisation program, Crown PlaySafe.
Crown Sydney stated that it will “continue to work constructively and collaboratively with the NICC to implement the requirements” as it relates to the casino licence to ensure ongoing industry regulations and standards compliance.
Mark McWhinnie, CEO of Crown Sydney, commented: “Since opening the Crown Sydney casino in August 2022, we have worked tirelessly to implement wholesale reform across our business, delivering 432 remediation activities to the NICC across key areas, including harm minimisation, financial crime, compliance, risk and culture.
“The NICC’s decision today recognises the genuine and sustainable changes we’ve made and our ongoing commitment to operating at the highest industry standards. I would like to thank the NICC, led by Chief Commissioner, Philip Crawford, for his continued leadership, professional engagement and commitment to regulatory reform. Crown Sydney is the safest place to gamble in the state.”
“Today’s outcome would not be possible without the unwavering hard work and dedication of our team and while we take a moment to recognise this milestone today, we know that the work doesn’t stop here. Our transformation has laid the pathway for the future so we can exceed the expectations of our guests, team members, stakeholders and the community.”
Crown Sydney retaining its casino licence follows the recent announcement by the Victorian Gambling and Casino Control Commission that Crown Melbourne was also found suitable to retain its casino licence.
Meanwhile, Crown Perth “continues its transformation activities and implementation of its remediation plan”, which is expected to be submitted by the end of January 2025 to the Perth Independent Monitor.
Crown Resorts CEO, Ciarán Carruthers, added: “Under the ownership of Blackstone, who brought in new executive leadership, management and boards, the Crown of today has been rebuilt from the inside out. We’ve spent the past two years pioneering a monumental transformation unlike anything seen before in corporate Australia.
“We remain committed to Crown’s ongoing cultural transformation, compliance and ensuring that we are the safest gambling venue in Australia while providing a fun and entertaining environment for our guests. We must continue to build and maintain trust and respect while showing that success and commercial viability go hand in hand with trust, care and integrity.”
Carruthers continued: “I would like to thank Philip Crawford for his leadership of the NICC and echo his sentiment that we must remain steadfast in our commitment to suitability, accountability and compliance.
“I am immensely proud of what our team has accomplished with two of our three properties being found suitable to retain their casino licences and we continue to focus on our ongoing remediation work in Perth.
“We know holding a casino licence is a privilege and an obligation we take extremely seriously. We will continue to build trust with our communities and stay focused on our vision to become a beacon of excellence for integrated resorts.”
