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Crown Sydney 2024

Crown Resorts and Crown Sydney have acknowledged the NICC’s decision to allow Crown Sydney to retain its casino license

This comes after the Victorian Gambling and Casino Control Commission (VGCCC) recently declared that Crown Melbourne is also suitable to retain its casino license.

Crown has invested AU$200 million (US$192 million) in a comprehensive overhaul of its operations, which includes implementing reforms in areas such as harm minimization, financial crime prevention, governance, compliance, and risk management.

These reforms occurred under new ownership and executive leadership after Blackstone acquired Crown in June 2022. Significant changes include the formation of new Boards, with John Borghetti chairing Crown Sydney’s Board.

Crown Sydney has introduced measures to prevent and detect money laundering, notably being the first in NSW to adopt cashless gaming for all Electronic Table Games (ETGs).

Mark McWhinnie, CEO of Crown Sydney, remarked, “Since we opened the Crown Sydney casino in August 2022, we have diligently worked to enact comprehensive reform throughout our operations, completing 432 remediation tasks for the NICC in crucial areas including harm minimization, financial crime, compliance, risk, and culture.”

Ciarán Carruthers, CEO of Crown Resorts, also stated, “With the acquisition by Blackstone, which introduced new executive leadership, management, and Boards, the Crown of today has undergone a profound transformation from the inside out. Over the past two years, we’ve spearheaded an unprecedented overhaul unmatched in corporate Australia.”

The NICC’s decision to allow Crown Sydney to retain its casino license follows recent operational challenges, including a November 2023 announcement by Crown Sydney about reducing operating hours and cutting 180 jobs due to decreased foot traffic.

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