Your Daily Asia Gaming eBrief: Crown special manager seen neutering board

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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.

Your Daily Asia Gaming eBrief: Crown special manager seen neutering board

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.

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Your Daily Asia Gaming eBrief: Crown special manager seen neutering board

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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AGBriefings Magazine October

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