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Casino
November 2, 2023
Crown Melbourne Workers Prepare to Strike
Crown Resorts’ woes continue as Crown Melbourne workers prepare to strike just as the highly anticipated Melbourne Cup looms. The Australian casino and hospitality giant recently encountered regulatory problems and is currently struggling with low visitation rates and taxes. Crown’s workers also aren’t happy with the conditions they are getting. Their current demands include fair […]
Business
November 1, 2023
Crown Is Renegotiating Its $1B Tax Guarantee with NSW
Crown Resorts is renegotiating its 1 billion-dollar (AUD) tax guarantee agreement with the New South Wales government. In 2013, the operator promised to pay at least $1 billion in license fees and taxes over the 15 years after the opening of its Sydney property. However, the casino didn’t quite pick up as Crown Resorts had […]
Casino
October 19, 2023
Blackstone Anticipates Crown Resorts Overhaul to Cost Millions
The Blackstone Group, the globally recognized US private equity giant, acquired Crown Resorts, the leading Australian casino operator, last summer. At the time of the announcement, the price tag of the deal was a staggering AU$8.9 billion ($6.5 billion). However, despite the initial investment to acquire Crown Resorts, The Blackstone Group revealed that it has […]
Casino
September 11, 2023
Crown Resorts Introduces Innovative Premium Player Program
In a bold move aimed at revitalizing its image and attracting both local and international players, Crown Resorts has unveiled a new Premium Player Program at the Crown Melbourne and Crown Sydney casinos. The initiative, which notably excludes Crown Perth, marks a significant step in the company’s efforts to regain its footing in the wake […]
Casino
July 28, 2023
Crown Resorts Introduces Company-Wide Safer Gambling Initiative
Australian operator Crown Resorts has introduced a new program to prevent gambling harm. The program is called Crown PlaySafe and will be rolled out across the operator’s properties in the country. Crown said that this program is in line with its Future Crown transformation program and follows the earlier troubles for the company. It aims […]
Casino
July 11, 2023
Crown’s Claim of Financial Hardship Questioned by Federal Court
In a recent development, Federal Court Justice Michael Lee has raised doubts about Crown’s assertion that it cannot afford to pay the AUD450 million ($301 million) fine imposed by AUSTRAC in a single payment. The fine was levied against the casino giant for numerous breaches of anti-money laundering and counter-terrorism laws. Justice Lee Questions Crown’s […]
Industry
June 23, 2023
Crown Workers Back-Paid over Self-Reported Underpayment
Australia’s independent government agency helping employees and employers, the Fair Work Ombudsman (FWO), announced details Friday regarding a unique backpay case involving the famous gambling and entertainment company in the country, Crown Resorts. The recent announcement reveals that Crown Resorts agreed to engage in back paying some 200 employees after an error related to underpayments […]
Casino
June 16, 2023
Crown Resorts Slapped with $14M Fine for Tax Obligation Breach
Crown Resorts, one of Australia’s leading casino operators, has been hit with a substantial fine of AUD20 million ($13.8 million) by the Victorian Gambling and Casino Control Commission (VGCCC). The issue was initially uncovered during the 2021 Royal Commission probe into Crown Melbourne, which revealed that Crown had disguised promotional costs as winnings in order […]
Casino
June 9, 2023
Blackstone Group Signals Confidence in Crown Melbourne Property
As a result, Blackstone will be investing in what it sees as a much-needed renovation in Crown Melbourne, following the $6.5-billion acquisition of Crown Resorts last year. This was carried out amid increased pressure on the property, as it faced probes into various offenses and breaches of Australia’s gambling laws. Blackstone Outlines Future Success of […]
Legal
May 30, 2023
Crown Reaches AU$450M AUSTRAC Settlement for AML/CTF Breaches
The Australian Transaction Reports and Analysis Centre (AUSTRAC) announced today that an agreement with Crown Resorts over a financial penalty has been reached, and the casino operator agreed to pay AU$450 million ($293.4 million) for its breaches. Proposed Penalty Appropriate in All Circumstances The joint submissions filed by Crown Melbourne and Crown Perth with the […]
