According to Victoria regulators, Crown is permitted to keep its Melbourne casino licence.

According to Victoria regulators, Crown is permitted to keep its Melbourne casino licence.

 Crown Resorts has been found to be eligible to hold a licence and, as a result, to carry on running its Melbourne site by the Victorian Gambling and Casino Control Commission (VGCCC).
 Victoria Casino Crown Melbourne
 The VGCCC stated that Crown's retention of the licence is in the "public interest."  Victoria's biggest single-site employer is Crown Melbourne. 

 The judgement comes after the Royal Commission into casino licenses caused significant adjustments at the facility.  The Commission's criticism of what it considered to be "illegal, dishonest, unethical, and exploitative" activity was harsh.

 The inquiry's report, which was released in October 2021, declared the casino "unsuitable" to possess a casino licence in Victoria.  However, given the possible economic impact, Crown shouldn't instantly lose its licence, it continued.

 Rather, the Commission outlined a number of suggestions to enhance procedures.  Crown completely restructured its business during the next two years to adhere to these regulations.  These included obligatory cooling-off periods and other safer gaming obligations to prevent gambling harm.

 The Melbourne Remediation Action Plan, which executed 342 projects in eight workstreams, was a component of this transition.  Financial crime, governance, risk and compliance, Crown PlaySafe harm reduction, and culture were among the areas of emphasis.

 A special manager was then appointed by the Victoria government to supervise the casino's operations and cleanup.  With a particular set of expanded authority pertaining to the casino, the VGCCC was established as the state's only gambling regulator.

 The Commission was tasked with determining whether Crown was qualified to hold the licence after these procedures.  The operator maintained its licence after accounting for Crown's work, claiming to have spent more than AU$200.0m (£103.4m/€120.6m/US$130.9m) on its makeover.

 Crown responds to "systemic failures"
 Commission chair Fran Thorn discussed the case and stated that the special manager's final report found Crown Melbourne had fixed the issues the Commission had revealed.  Additionally, it created "critical foundations" for a long-lasting, comprehensive change.

 Thorne stated, "There was no indication of any illegal or improper conduct or maladministration that would have indicated the serious and systemic failures previously identified by the Commission."  "These shortcomings had been fixed.

 "Victorians have a right to expect that Crown Melbourne will never again put profit ahead of the safety and well-being of its patrons and staff, or over compliance with its legal and social obligations, in exchange for the privilege of an exclusive licence."

 "The state will continue to keep an eye on Crown," Thorn said.  Through a statutory directive, it must bring about additional reform; specifics will be released soon.

 In addition to Crown's legal and social responsibilities, "that transformation plan will be at the heart of our oversight and provides the next level standard for Crown Melbourne," Thorn stated.

 "Crown Melbourne must keep working to regain the public's trust by exhibiting the moral rectitude, honesty, and integrity required to continue operating a respectable casino.  We warned Crown that if the privilege of possessing the licence is once more abused, we won't think twice about taking action.

 Crown Melbourne celebrates a "significant" achievement. 
 Crown will be relieved to receive the decision.  Following the Commission, the operator has already been subject to severe regulatory penalties in the state.

 Crown Resorts was hit with two fines reaching a record $120 million by the VGCCC in November 2022 for a number of violations.  Over a period of years, Crown allegedly failed to fulfil its responsible service of gaming requirements, according to the VGCCC.  It was discovered that patrons gambled continuously for extended periods of time—sometimes more than twenty-four hours.

 According to property CEO Mike Volkert, keeping its Victoria licensing is one of the most important turning points in Crown Melbourne's 30-year history.

 Volkert stated, "Everyone at Crown Melbourne must continue to focus on what we have accomplished."  We are dedicated to providing the best industry standards and prioritising the well-being of our guests in all of our decisions since we realise that the work doesn't end here.

 "Crown Melbourne is now Victoria's safest place to play games and have fun.  We are eager to continue greeting our visitors.

 The influence of Blackstone 
 Ciaran Carruthers, CEO of Crown Resorts, praised the move as well.  He said that a key factor in the transformation's success was Crown's June 2022 acquisition by private equity behemoth Blackstone.

 Crown has led "one of the most complex transformations ever undertaken in Australia since the acquisition by Blackstone, and the appointment of new boards and an executive leadership team," Carruthers stated.

 According to Carruthers, the actions done amounted to "fundamentally rebuilding our organisation from the inside out."

 "We take the honour and responsibility of having a casino licence very seriously.  I'm proud of the work our team has done and the secure atmosphere in which Crown Melbourne now works.

 "By working together, we have improved and strengthened the Crown.  Delivering the greatest standards of honesty, damage minimisation, and service excellence across our sector will continue to be our unwavering commitment.