NSW Commission Will Reveal Crown Resorts Findings By Feb 15
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The NSW Independent Liquor and Gaming Authority has carried out a detailed investigation into Crown Resorts – the largest casino operator in Australia. Crown Resorts was pulled up for multiple breaches of gaming regulations which included money laundering, ties to Asian criminal syndicates and deliberately turning a blind eye to non-compliance.
Bergin Report Due By Feb 15
Patricia Bergin headed the investigation into Crown Resorts. The Commission interviewed a number of key Crown personnel including former chairman and billionaire James Packer. Those interviews were documented by Australian media and showed that Packer was aware of a number of these malpractices.
The Australian billionaire claimed that he was bipolar which was one of the main reasons for him engaging in such disgusting behaviour. Packer has since stepped down twice from Crown’s board but still has a number of family associates who are on the board of directors. Packer admitted during the investigation that he had ties to individuals who were suspected of having links to the Asian criminal syndicate.
Commissioner Bergin who is a former NSW Supreme Court judge submitted her findings to the regulator on Feb 1, 2021. The report will be reviewed by the gaming regulator and Bergin’s recommendations will be taken into consideration. The report will be made public by Feb 15.
The NSW gaming regulator prevented Crown Barangaroo from opening its new casino floor in late 2020 due to Crown’s many shortcomings. Crown Resorts spent A$2.2 billion to open Crown Barangaroo in Sydney. As of now, only none-gaming facilities have been opened to the public. The Barangaroo casino opening will depend on the Bergin report and her recommendations.
The Victorian Commission for Gambling and Liquor Regulation has also launched an enquiry into Crown Melbourne’s practices. The investigation is currently on going and a report should be submitted for review in late Feb or early March most likely.
Will Crown Resorts Lose NSW License?
The Bergin report is unlikely to suggest a fine and a warning which is what is usually given to casino operators with less serious offenses. The Bergin report could suggest that Crown Resorts be stripped of its NSW casino license which will then cause a lot of headaches for Crown Barangaroo. This would require Crown Resorts to relinquish ownership.
The alternate is for the report to suggest that Crown Resorts make significant changes to its board, policies, management and operations. This will most likely require James Packer to cut all ties to Crown Resorts and also for some or all of his family associates to exit the board.