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Crown WA probe to take form of Royal Commission
Crown Resorts said a probe into its suitability to hold a casino license in Western Australia will take the form of a Royal Commission. The company is also facing the country's move wide-reaching form of inquiry in Victoria.
SkyCity says Auckland property to reopen from March 7
SkyCity Entertainment said its Auckland casino will be allowed to reopen from Sunday, March 7, with physical distancing requirements in place, after New Zealand moved the city to Alert level 2.
FBI investigating police at Guam ports and airport for illegal gambling
The FBI have entered an ongoing scandal in which police at Guam’s ports and airports are under suspicion of engaging in illegal gambling.
IPI financial suitability questioned; license suspension or revocation possible
In a clutch of new developments in Saipan, the Commonwealth Casino Commission Chairman Edward C. Deleon Guerrero questioned Imperial Pacific International’s financial suitability to maintain its casino license, noting that should the license be suspended and sufficient remedial action not taken, the license may be automatically revoked,
Crown confirms regular Victoria license review not proceeding
Crown Resorts confirms that the seventh review of its suitability to hold a casino license in Victoria will not proceed as scheduled due to a separate Royal Commission probe into its business practices.
Crown ripe for LVS purchase: Bernstein
The sale of Las Vegas Sands’ Vegas properties for $6.25 billion could be an opportunity for Sands to put their boots down in Australia through a purchase of Crown Resorts, according to Bernstein analyst Vitaly Umansky.
IPI lawyer warns receivership could lead to full liquidation
Imperial Pacific International lawyer Michael Dotts has advised the federal court that putting the firm’s local assets into receivership could lead to a “full liquidation.”
Blackstone remains bullish on hotels, experiential travel
Blackstone Group, a major shareholder in Crown Resorts, says hotels and experiential travel remain on its "high conviction" list for investment.
CCC director wants IPI license suspended, revoked if necessary
Commonwealth Casino Commission executive director Andrew Yeom has asked the commissioners to suspend the casino license of Imperial Pacific International, which has racked up 16,165 regulatory violations.
Various formulas mulled to reduce Packer’s influence on Crown Resorts
Various formulas are under consideration to reduce James Packer’s extraordinary influence over the governance of Crown Resorts, although this may not necessarily involve him selling down his 37 percent stake.