The NSW Independent Casino Commission (NICC) announced Tuesday that it has found Crown Sydney suitable to retain its casino license, expressing its confidence that the company has a strong model to continue operating into the future.
On the same day as the chairman of Crown’s Sydney rival Star Entertainment Group was fronting a public inquiry into its own suitability, the NICC said Crown had come a long way during almost three years of intensive remediation ad more specifically had fundamentally reformed its business and is operating the casino within the objects of the Act, the requirements of the suitability deed, and in compliance with its regulatory obligations.
In a statement, NICC Chief Commissioner Philip Crawford said the regulator is confident the Crown we deemed suitable today has a strong model to keep operating into the future. However, Hard work and transformation aside, the NICC has not forgotten the level of misconduct exposed in 2021 when Crown was found unsuitable.
Crown Sydney has ongoing work to reach steady state and it must continue to lift standards and maintain its cultural transformation.
There is and will always be room for improvement, but Crown is a changed business that is looking toward the future. Likewise, the NICC is a changed regulator with enhanced powers, a singular focus on casinos, and a mandate to address the risks of harm.
This decision is a positive outcome for Crown Sydney, its staff, and the community – who can be sure the NICC will use all of its powers to keep the casino in check.
The NICC said that in finding Crown suitable, a new licence and new regulatory agreement has been forged between Crown Sydney, the NSW Government and the NICC.
Crown cannot disregard the responsibility and privilege that comes with holding a casino licence, Crawford said.
Crown Sydney’s ability to provide a destination hospitality and entertainment venue underpinned by the restricted gaming facility is contingent on its steadfast commitment to continuing suitability, accountability and compliance.
Crown Resorts, which was also found suitable to retain its Victorian casino license earlier this month, said it would continue to work closely with the NICC to ensure ongoing compliance at its Sydney property.
Since opening the Crown Sydney casino in August 2022, we have worked tirelessly to implement wholesale reform across our business, delivering 432 remediation activities to the NICC across key areas, including harm minimization, financial crime, compliance, risk, and culture, said Crown Sydney CEO, Mark McWhinnie.
The NICC’s decision today recognizes the genuine and sustainable changes we’ve made and our ongoing commitment to operating at the highest industry standards.
Crown Resorts CEO Ciarán Carruthers added, Under the ownership of Blackstone, who brought in new executive leadership, management, and Boards, the Crown of today has been rebuilt from the inside out. We’ve spent the past two years pioneering a monumental transformation unlike anything seen before in corporate Australia.
We remain committed to Crown’s ongoing cultural transformation, compliance, and ensuring that we are the safest gambling venue in Australia while providing a fun and entertaining environment for our guests. We must continue to build and maintain trust with our communities and stay focused on our vision to become a beacon of excellence for integrated resorts.
I would like to thank Philip Crawford for his leadership of the NICC and echo his sentiment that we must remain steadfast in our commitment to suitability, accountability, and compliance.
I am immensely proud of what our team has accomplished with two of our three properties being found suitable to retain their casino licenses, and we continue to focus on our ongoing remediation work in Perth.
We know holding a casino license is a privilege and an obligation we take extremely seriously. We will continue to build trust with our communities and stay focused on our vision to become a beacon of excellence for integrated resorts.
