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Crown likely to regain Sydney license this year: Regulator
New South Wales chief gaming regulator Philip Crawford said the reinstatement of Crown Resorts’ license in New South Wales is a “realistic prospect”, provided the company has its “structures in place.” Crown’s license was suspended in February following a damning report from Patricia...
Blackstone makes A$8 billion bid for Crown Resorts
Crown Resorts has confirmed it has received an unsolicited, non-binding, indicative proposal from The Blackstone Group Inc to buy out all of its shares in an A$8 billion deal. Crown on Monday confirmed to the ASX that it had received the offer from Blackstone on Sunday, with an indicative price of...
Effectiveness of Western Australia gaming regulators under review
The terms of reference issued to the Royal Commission in relation to the Crown Resorts affair make it clear that the effectiveness of the Australian state’s Gaming and Wagering Commission is also under review. The Royal Commission, of course, has been established by the state government of...
Crown ripe for LVS purchase: Bernstein
The sale of Las Vegas Sands’ Vegas properties for $6.25 billion could be an opportunity for Sands to put their boots down in Australia through a purchase of Crown Resorts, according to Bernstein analyst Vitaly Umansky. “Crown Resorts could be a good fit for Sands in the long run. The company is...
Yumul denied license to become IPI CEO
The CNMI’s Commonwealth Casino Commission has rejected former CNMI Senator Ray N. Yumul’s application to be temporarily licensed as the CEO of Imperial Pacific International, citing the fact that the fees for the ninety-day license have yet to be paid. This rejection comes despite CEC Executive...
Aristocrat mulls M&A to expand in digital
Aristocrat Entertainment CEO Trevor Croker said the company plans to “significantly escalate” its focus on convergence products and services, which may involve mergers and acquisitions. In his annual address to shareholders, Croker said the group had undertaken a strategic review of its...
Crown Perth told to cease junket play
The Gaming and Wagering Commission of Western Australia (GWC) today issued a directive to Crown Perth to cease all junket and premium player activity. According to a filing from Crown Resorts on the Australian Stock Exchange, the ban on high roller activity includes any conduct of junkets, or...
Victoria to shake up gambling regulation
The state of Victoria is reviewing its gambling legislation and plans to set up an independent casino regulator following the findings of a damning report into Crown Resorts in New South Wales. The state government said that Minister for Consumer Affairs, Gaming and Liquor Regulation Melissa Horne...
Operators need to reassess junket relations: SVA
Casino operators should reassess their relationships with their junket partners in the wake of the Bergin report into Crown Resorts and the changes in the global geopolitical climate, according to SVA, a corporate and political risk consultancy. CEO Steve Vickers gave evidence during the Bergin...
Crown loses directors as post-Bergin shakeout begins
Heads have begun to roll at Crown Resorts, a day after a bombshell report found it was unsuitable to hold a Sydney license, with regulators warning the company will need to “blow itself up” to regain suitability. Less than 24-hours after former Judge Patricia Bergin delivered her findings,...most popular
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MoF reports on casino businesses’ financial losses
The first casino in Hoi An is about to open after 4 years of construction On June 28, Hoiana Phase 1 is ready to open its doors to customers to experience the first infrastructure. After 4 years of construction, the Hoiana complex project is expected to open to welcome the first guests at the...