The NSW gaming regulator has officially deemed Crown Resorts no longer suitable to hold a casino licence at its new Barangaroo property in Sydney.
Crown announced this morning that it had been informed of the decision via a letter from the NSW Independent Liquor and Gaming Authority (ILGA).
The group has also been served a notice for breaching a clause in the regulator’s VIP Gaming Management Agreement (VIP GMA).
“ILGA has commenced the consultation process contemplated under the VIP GMA and has invited Crown Sydney Gaming to address ILGA in relation to its present view,” Crown said in a statement.
The decision by the NSW ILGA comes shortly after an inquiry report commissioned by the regulator into suspicious activity within the accounts of VIP players at Crown casinos.
Crown halted the commencement of gaming operations at Crown Sydney (also known as ‘Packer’s Pecker’) until after the inquiry’s findings were released, after the company dropped a money laundering bombshell during the probe in November last year.
The $2.4 billion Barangaroo project also includes a 350-room hotel, along with 14 bars and restaurants, which have already opened to the public.
Commissioner Patricia Bergin’s report found Crown to be unsuitable in its current state to operate a casino at the Barangaroo property, and said the company’s cultural changes would need to be overhauled for that to change.
The report led to the resignation of Crown CEO and managing director Ken Barton, along with board directors Andrew Demetriou, Guy Jalland and Michael Johnston.
Featured image source: Crown Sydney
