Good morning. One of the conditions recommended by the royal commission into Crown in Melbourne is the appointment of a special manager to oversee all aspects of group operations for two years. David Green, principal of Newpage Consulting and a gaming law expert, takes a look at the implications of the appointment, which will effectively neuter Crown’s newly revamped board of directors.
What you need to know
- J.P Morgan analysts said they “wouldn’t be surprised” if the Macau government extends the current term for gaming concessionaires by six to twelve months.
- The outcome of the Victorian royal commission into Crown Resorts bodes well for the Star Entertainment Group, whose misconduct is arguably seen not “as bad” as its Melbourne rival.
- DraftKings is dropping its $22 billion takeover offer for U.K.-listed Entain, saying it’s confident it will have success in going it alone in the U.S. market.
- DFNN said gross bets on its local online gaming platform surged 64.56 percent in 3Q21, fuelled by Covid lockdowns in the Philippines.
On the radar
- Macau Grand Prix to go ahead with six operators sponsoring
- TAB NZ reports mixed September update on Covid closures
- Singapore will open a one-way travel corridor with Australia from Nov 8.
What the papers say
- Kangwon Land to require vaccination certificate for visitors, foreigner-only casinos won’t
- Hong Kong tightens Covid-19 travel restrictions in attempt to open up China travel
- Digital RMB would plug a “blackhole” in China’s economy: Ben Lee
- Vietnam must shed quarantine if it wants to reopen intl flights, aviation experts warn
AGB Intelligence
INDUSTRY VOICE
Crown special manager seen neutering the board
Despite a litany of conduct described by Royal Commissioner Ray Finkelstein as “disgraceful”, and a resultant finding of unsuitability as a licensee, he has recommended that Crown Melbourne should retain its casino licence. However, there are conditions and one of them is the appointment of a special manager to oversee all aspects of group operations for two years. David Green, principal of Newpage Consulting and a gaming law expert, takes a look at the implications of the appointment, which will effectively neuter Crown’s newly revamped board of directors.
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