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Australian casino company Crown Resorts was found "fit" to retain its Sydney casino licence in NSW after the group spent nearly three years working to improve overall business practices.
The New South Wales Independent Casino Commission (NICC) reported the news in a statement on Tuesday.
Crown Sydney (pictured) received "conditional" gaming licence approval from NSW in June 2022. The terms included ongoing monitoring by regulators.
Crown Resorts was acquired by investment group Blackstone Inc. in June 2022.
The monitoring requirements stemmed from an earlier incident in February 2021, including an incident that occurred before Blackstone Crown Resorts, which proved unsuitable for holding a casino in the Sydney new complex in Barangaroo following an investigation into how the casino group operates its existing Australian business.
But on Tuesday, NICC chief commissioner Philip Crawford said in a statement: "NICC is confident today that Crown [resort] as we see fit has a strong model to continue operating into the future."
He added: "Hard work and change aside, the NICC has not forgotten the level of misconduct revealed in 2021 when Crown was found to be unsuitable."
Crown Resorts and Crown Sydney on Tuesday acknowledged the regulator's decision on suitability and said Crown Group had invested A$200 million ($129.1 million) in a "comprehensive transition" of its business.
Crown Sydney Chief Executive Mark McWinnie was quoted as saying in a statement from Crown Resorts on Tuesday: "Since we opened Crown Sydney Casino in August 2022, we have been working tirelessly to implement wholesale reforms across our business, including providing NICC with 432 relief activities across key areas such as damage minimisation, financial crime, compliance, risk and culture."
Last month, Crown Resorts announced it could retain its license to operate its flagship Melbourne, Victoria casinos. The Victoria Board of Gambling and Casino Control said the decision was in the public interest.
Crown Resorts said in a statement on Tuesday that Crown Perth in Western Australia was due to file a report with the state's regulators by the end of January 2025 and was still implementing its own recovery plans.
Last year, the casino operator agreed to pay a fine of A$450 million for breaking anti-money laundering laws.
BY: 에볼루션 바카라사이트