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Business
July 20, 2021
Crown Melbourne Faces Possible License Suspension in Victoria
Crown Resorts may face another massive setback in Australia. The counsel assisting the Royal Commission in Victoria in its investigation of the casino operator thinks it shouldn’t retain its license due to the fact that it breached the Casino Control Act of Victoria. Barrister Adrian Finanzio SC has stated that Crown may not be worthy of […]
Casino
July 12, 2021
Crown Resorts Called Out for Trying to Manipulate Ongoing Investigation
Crown Resorts has tried to play the pity card in Victoria and it didn’t go over very well. The casino operator has already shown its inability to act as a good corporate citizen in New South Wales (NSW) and could be facing similar trouble in Victoria and other states. Perhaps seeing the writing on the […]
Business
July 8, 2021
Crown Resorts Boss Shows Long-Time Dissention in the Ranks
The truth always comes out and Crown Resorts is learning the lesson the hard way. The Australian casino operator, once at the top of the hospitality charts in the country, has slid from grace due to a number of issues that have plagued it over the past several years. It has been accused of tampering […]
Industry
July 6, 2021
Crown Resorts May Face Difficulties This Year, Next Year, Too
In light of the impact of the COVID-19 pandemic, Crown Resorts released a trading and earnings update. The company revealed that it may report an operating loss for 2021, while a further negative financial impact may be observed next year, as well. Crown Resorts May Report Operating Loss for 2021 Fiscal Year Australia-based entertainment company […]
Industry
June 25, 2021
Australia’s Gaming Industry Likely to Undergo Monumental Changes
If any good is coming out of the debacle surrounding Crown Resorts in Australia, it’s that the country’s gaming regulations are likely to be tweaked. Fitch Ratings has weighed in on what is happening in Australia with Crown and Star Entertainment, as well as the gaming industry, in general, and believes that the screws are […]
Casino
June 22, 2021
Star, Crown Resorts Meet over Potential Merger
As Crown Resorts continues to fend off an assault on its reputation and viability as a casino operator, a number of companies haven’t wasted time approaching it to offer potential buyout deals. Oaktree Capital Group and the Blackstone Group were seen as the largest contenders, especially because of their deep pockets, but then Australia’s own […]
Business
June 15, 2021
Oaktree’s Structured Facility Bid to Crown Upped to AU$3.1B
Oaktree, a private equity firm based in the US, revised its initial offer to Crown Resorts related to the purchase of shares held by Consolidated Press Holdings (CPH), the troubled casino operator announced in a filing to the Australian Securities Exchange (ASX) Tuesday. CPH Stake Buy Back In April, the investment fund offered a funding […]
Legal
June 7, 2021
Crown Resorts Isn’t Only Australian Casino Operator to Act Irresponsibly, Asserts AUSTRAC
The level of drama surrounding Crown Resorts is enough to make soap opera writers envious, but it now appears that the casino operator’s actions may have only been part of a larger, more widespread issue. Crown has been under investigation by regulators across Australia for money laundering, machine tampering, and much more as its ability […]
Casino
June 4, 2021
Victoria Royal Commission Inquiry Reveals New Crown Failings
Troubles do not seem to end for Australian casino operator Crown Resorts as Victoria royal commission’s inquiry into its sole license was presented with disturbing facts about the casino’s practices related to its responsible gambling obligations. Long Hours Play Practice The Wednesday hearing at the commission led by former Federal Court judge Ray Finkelstein, QC […]
Casino
May 27, 2021
Crown Resorts Melbourne Closes for a Week from Today
Crown Resorts, an Australian casino operator, has announced that its Melbourne property will close until June 3, in line with the newly announced coronavirus restrictions in Victoria. Victoria Government Closes All Non-essential Retail The Crown Resorts, an Australian casino operator, has announced it will close down its Melbourne facility until June 3 due to the […]