in ,

Crown Resorts is Prohibited From Operating Sydney Casino

crown-resorts-is-prohibited-from-operating-sydney-casino

For months, Crown Resorts has been under investigation for alleged money laundering activity. It’s been a troubling time for Australia’s largest gaming company, which continues working towards expansion. Unfortunately, reports have confirmed that Crown will not receive permission to operate its new Sydney casino.

This new gambling venue was set to open inside Crown Sydney, a massive new skyscraper built in Barangaroo. That will no longer take place. Today, we’ll discuss why exactly this decision was made.

Let’s get into it!

Looking Back at Crown Resorts’ Past Troubles

Most Australians are familiar with Crown Resorts. This company was launched in 2007 and has quickly grown to become one of the world’s top gaming companies. It currently operates two of Australia’s largest gambling establishments.

Unfortunately, this company has faced its fair share of controversy in the past. In 2016, Crown was hit with a major lawsuit for publishing illegal betting advertising in New South Wales. The company agreed to pay a fine and cease its advertising activities.

Back in 2017, several of the company’s top officials were jailed in China over “gambling crimes.” China’s government claims these individuals were illegally promoting gambling in the country. It was international news and caused a variety of issues for the company.

Finally, in 2019, reports surfaced claiming Crown Resorts intentionally promoted its casinos to residents of Mainland China. As many know, China is extremely strict on its gambling laws. This investigation also revealed that Crown had ties to junket businesses linked to Hong Kong’s triad gangs. Most recently, Crown was alleged to be involved in a major money laundering situation.

There has been a history of this company finding itself on the wrong side of the law. Despite that fact, it remains one of the most successful gaming operators in Australia. This company recently finished construction on its massive Crown Sydney tower.

Troubles have already come up with this new venue. A new order means Crown will no longer have permission to operate a casino inside this massive skyscraper.

ILGA Prohibits Crown Resorts From Opening Sydney Casino

Crown Resorts fully operates two casinos in Australia. That is the Crown Melbourne and Crown Perth. For years, company officials have been working hard to open an exciting new casino in Sydney.

Construction began on Crown Sydney back in October of 2016. This is a skyscraper located in the Barangaroo district of Sydney. It’s the tallest building in the city and the fourth-largest building in all of Australia.

Gambling fans have been eagerly waiting to see the new casino open its doors inside the Crown Sydney. Unfortunately, this won’t be happening anytime soon. News has come out claiming the NSW’s Independent Liquor and Gaming Authority (ILGA) has deemed Crown Resorts unsuitable to operate the new Sydney casino.

This government body released a report that details why Crown will not be able to operate a gambling venue in Sydney.

“One of the difficulties for Crown was its unjustified belief in itself and its unwillingness to entertain the prospect that there was any force in any of the Media Allegations,” the report said.

Many officials in New South Wales’ government have taken issue with Crown’s “corporate arrogance.” The ILGA claims that the company took no responsibility for any of the recent media allegations of money laundering.

Crown plans on fighting this decision. It will take time, yet there’s still a chance to obtain its casino license in the future. This casino will not be opening its doors in February, though. We’ll be sure to offer more updates on this situation over the next few months!

Casino Revenue is Still Dropping Around the World

There’s a lot happening with the casino industry in Australia right now. It’s disappointing to see another delay in opening the new gambling venue in Sydney. Hope is that we see this situation figured out sometime in the next few years.

The land-based casino industry is still hurting over in the United States. All of the casinos in this country were forced to shut down in March. States began allowing these venues to reopen over summer, yet revenue remains far lower than what has been seen in previous years.

Major casino hubs such as Las Vegas are taking the worst of this economic situation. Las Vegas relies heavily on its tourism and gambling industry. Many of the biggest casino-resorts here are still seeing significant dips in revenue each month.

Macau’s casino industry is far from recovered, as well. This gaming hub was much slower to bounce back than Las Vegas. Fortunately, travel into Mainland China has resumed and casinos here are beginning to see revenue increases.

It’s a very unusual time for the world’s casino industry. We should begin seeing things improve by the time summer rolls around.

Are you surprised that Crown Resorts is unable to operate its new Sydney casino? Let us know in the comments section below!

Kevin Oldroyd

A longtime sports and gambling enthusiast, Kevin looks to present up-to-date and reliable information for readers. If he’s not writing, he’s probably watching MMA or playing blackjack. …

View all posts by Kevin Oldroyd

Leave a Reply

Your email address will not be published. Required fields are marked *

new-york-knicks-bring-back-old-rose-to-the-garden

New York Knicks Bring Back Old Rose to the Garden

g2-vs.-evil-geniuses-betting-predictions-and-free-pick

G2 vs. Evil Geniuses Betting Predictions and Free Pick