Gaming regulators in the Australian state of Victoria have ruled that Crown Resorts is suitable to continue to operate its Melbourne casino, following years of debate over AML breaches.
On Tuesday, the Victorian Gambling and Casino Control Commission (VGCCC) noted that “the systemic failings at Crown Melbourne are a thing of the past”.
The Chair of the VGCCC, Fran Thorn, furthered that “We are determined Crown is not and will never be too big to fail.”
However, the watchdog head furthered that “The significant turnaround by Crown Melbourne does not mean that Crown will never slip up again […] And when this happens, we will act, and we expect Crown Melbourne to act. Ongoing suitability will be significantly demonstrated by how Crown responds to instances of operational failure, not by the total absence.”
The commission’s findings indicated that Crown Melbourne had ‘had breached its legal, social and moral obligations, resulting in illegal activities, tax avoidance, money laundering, criminal associations, and significant harm to vulnerable community members, ultimately finding Crown Melbourne unsuitable to hold the Melbourne Casino License’.
Despite the results, the VGCCC has recommended that Crown “be permitted to continue operating under stringent independent oversight conditions for two years, determining it had the will and capacity to transform itself to again become suitable, which would be to Victoria’s benefit,” noted Thorn.
The VGCCC is now the top body overseeing Crown Melbourne, including a ‘specific set of enhanced powers,’ notes the regulator.
Crown was found to have ‘remediated the failings exposed in the Royal Commission and established critical foundations needed to achieve sustainable overall transformation in coming years’.
“There was no evidence of maladministration or illegal or improper conduct indicative of the serious and systemic failures previously identified by the Royal Commission, and these failings had been addressed,” noted Thorn.
“During our investigations, we observed a different Crown Melbourne emerging with a clear understanding of the privilege and obligations of holding the Melbourne Casino License,” stated the official.
