Crown Melbourne License Retention 2024
In a significant development for Australia’s gambling industry, Crown Melbourne has successfully retained its casino license. This decision comes after the Victorian Gambling and Casino Control Commission (VGCCC) determined that the casino had sufficiently addressed the major failings identified in the 2021 Royal Commission investigation. Crown Melbourne had faced serious allegations of misconduct, including breaches related to money laundering, tax evasion, and failing to prevent harm to vulnerable communities.
The Royal Commission’s findings had left Crown Melbourne’s future in jeopardy, as it was deemed unsuitable to operate the Melbourne casino unless major reforms were undertaken. Under intense scrutiny, Crown has been working to regain public and governmental trust by implementing a comprehensive transformation plan. This plan focused on strengthening its governance, improving its risk management systems, and addressing previous regulatory failings.
According to the VGCCC, the reforms have shown clear signs of progress. The Commission, in its recent statement, mentioned that Crown Melbourne had demonstrated “the will and capacity” to implement these changes and continue operating under the stringent conditions set out by the oversight body. One of the key measures includes a mandatory pre-commitment system, allowing patrons to set both time and financial limits on their gambling activities. Furthermore, daily cash transactions are now capped at AU$1,000 per person, aimed at reducing the risk of money laundering and financial crime.
This decision does not signal the end of regulatory oversight for Crown Melbourne. The VGCCC has made it clear that the casino will remain under strict supervision, with any further breaches potentially resulting in the cancellation of its license. The oversight includes monitoring Crown’s adherence to harm minimization protocols, responsible gambling measures, and its commitment to preventing financial crimes.
For now, Crown Melbourne’s retention of its license is seen as a major victory for the casino operator, especially considering the losses and setbacks it has experienced in recent years. However, the casino must continue to prove that it can meet both the legal and social expectations of operating one of Australia’s largest gambling institutions.
Stay tuned for more updates as Crown Melbourne navigates its path forward under continued scrutiny and reform.