Crown Sydney’s gambling operations remain closed, contradicting the expectation that had been conveyed by the NSW Independent Liquor and Gaming Authority (NSWILGA) earlier in February, that gaming activities would likely resume in March.
When questioned on the matter by Sky News, the regulatory body advised that it is working with Crown Resorts to ensure that its Sydney property is in good enough stead to hold a casino license.
“The Authority is continuing discussions with Crown about a conditional opening of gaming at Crown Sydney,” an NSW ILGA spokesperson said while speaking to the broadcaster.
The agreement to get Crown Sydney operational again requires the approval of numerous parties and is reportedly not impacted by the regulator’s investigation into rival casino operator, Star.
Road to Recovery
Crown’s recent legal woes have precipitated significant recent developments, all geared towards ensuring that the operator can retain its casino operating licenses.
The Australian federal government’s Foreign Investment Review Board recently agreed to a plan that would allow the US-based Blackstone Group Incorporated to acquire the company.
In 2021, the operator’s casino license for its new Crown Sydney development was withdrawn, following a state-run inquiry’s findings that Crown may have enabled various cases of money laundering due to its relationships with foreign junket firms.
The company subsequently launched a wide-ranging reform initiative that saw a near-complete restructuring of its board of directors, with Blackstone’s purchase offer set to re-legitimise Crown’s reputation.
The Blackstone Group currently operates the Aria Resort and Casino in Las Vegas and is awaiting a determining shareholder vote that Crown is expected to hold in April, May or June 2022, to hear whether its acquisition offer has been accepted. In the interim, various Australian state and federal organisations are probing Blackstone’s affairs for any hint of impropriety.
