Crown Sydney, located in Barangaroo, is poised to open its casino floor on August 8th, following the approval granted by the New South Wales Independent Liquor and Gaming Authority (NSW ILGA) last month. The approval comes with certain conditions as part of the final phase of the license suitability assessment, which was initiated in response to the findings of the Bergin inquiry that deemed Crown Resorts unsuitable to operate in Barangaroo. With the imminent opening of its VIP gaming facilities, Crown Sydney aims to provide an exclusive and luxurious casino experience for its members and guests.
Conditional Approval and Monitoring:
The NSW ILGA granted conditional approval for Crown Sydney’s casino operations in June, indicating that close monitoring will be implemented during the final phase of the license suitability assessment. These conditions are expected to be in place until 2023, allowing regulatory authorities to closely observe Crown’s operations and ensure compliance with the required standards. The conditional approval reflects the NSW ILGA’s commitment to thorough scrutiny and ongoing oversight of Crown Sydney’s activities.
Exclusive VIP Casino Experience:
Crown Sydney’s VIP gaming facilities, comprising the Crystal Room, Mahogany Room, and 12 private Sky Salons located on levels 28 and 29, will offer an intimate and sophisticated casino experience. Designed by Bates Smart, the casino’s interior is expected to exude opulence and elegance. The Crystal Room is scheduled to open on August 8th, with the Mahogany Room following at a later date. Access to the casino facilities will be limited to Crown Sydney VIP members, their guests, and hotel guests, ensuring an exclusive and tailored gaming environment.
Blackstone’s Acquisition and Regulatory Challenges:
In recent developments, private equity group Blackstone successfully completed its AU$8.87 billion acquisition of Crown Resorts. The deal received approval from the Federal Court of Australia, as well as regulatory authorities in New South Wales, Victoria, and Western Australia. The acquisition marked a significant milestone for Crown Resorts, especially considering that Asian gaming group Melco had previously expressed interest in acquiring the company. However, various inquiries into Crown’s suitability to operate in different states, including the Bergin inquiry, raised concerns and led to regulatory scrutiny.
Ongoing Regulatory Proceedings:
The Victoria Gambling and Casino Control Commission has initiated further disciplinary proceedings against Crown Resorts, which could potentially result in fines of up to AU$100 million. These proceedings highlight the ongoing regulatory challenges faced by Crown Resorts in different jurisdictions. As the casino industry continues to evolve, regulatory bodies maintain a strong focus on ensuring compliance, responsible gambling practices, and maintaining the integrity of the gaming sector.
The upcoming opening of Crown Sydney’s casino floor on August 8th, following regulatory approval from the NSW ILGA, signals a new chapter for Crown Resorts. With a focus on providing an exclusive VIP gaming experience, the Crystal Room, Mahogany Room, and private Sky Salons aim to offer a luxurious environment for discerning guests.
As Crown Resorts navigates ongoing regulatory proceedings and strives to meet the highest standards of suitability, the casino industry as a whole continues to face increased scrutiny and demands for transparency. By adhering to regulatory requirements, Crown Sydney aims to build trust and confidence among regulators, stakeholders, and the wider public.