{"id":22153,"date":"2021-08-31T10:18:50","date_gmt":"2021-08-31T13:18:50","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=22153"},"modified":"2026-04-23T16:09:30","modified_gmt":"2026-04-23T19:09:30","slug":"crown-resorts-bans-250-vip-players-in-bid-to-keep-gaming-licences","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/crown-resorts-bans-250-vip-players-in-bid-to-keep-gaming-licences","title":{"rendered":"Crown Resorts bans 250 VIP players in bid to keep gaming licences"},"content":{"rendered":"\n

Crown Resorts has announced it has banned 250 high rollers who couldn’t explain where their money came from or raised other probity concerns.<\/p>\n\n\n\n\n\n\n\n

Australia.- In an attempt to hold on to its gaming licences,\u00a0Crown Resorts\u00a0<\/strong>has begun implementing a series of changes, including banning 250 VIP players\u00a0<\/strong>who couldn’t explain the source of their money.<\/p>\n\n\n\n

The company\u00a0carried out an investigation into over 1,800 high rollers<\/strong>. According to The Brisbane Times,\u00a0Allan McGregor<\/strong>, Crown\u2019s chief financial officer, said the ongoing reviews were \u201cfar more significant and comprehensive than we\u2019ve done before.”<\/p>\n\n\n\n

Steven McCann<\/strong>, Crown Resorts CEO, said the company was preparing for different outcomes of the ongoing Royal Commissions that are investigating the company.<\/p>\n\n\n\n

He said: “We will consider all options to maximise shareholder value in the context of however the regulatory environment plays out.\u00a0Crown has three of the best integrated resorts in the world<\/strong>. I\u2019m sure there will be people looking with interest at how things play out.\u201d<\/p>\n\n\n\n

In May, Crown rejected\u00a0an offer from Blackstone<\/a> to acquire the casino operator. The company had upped its original bid from\u00a0AU$11.85 cash per share to AU$12.35<\/strong>.\u00a0<\/p>\n\n\n\n

Star Entertainment<\/a>\u00a0also\u00a0made an offer of AU$12bn<\/strong>\u00a0(US$9.4bn)<\/strong>\u00a0for the casino operator. However, the company withdrew it<\/a> following suggestions that the operator should lose its\u00a0casino licence<\/a>\u00a0for Crown Melbourne.<\/p>\n\n\n\n

Crown’s revenue down 31 per cent in the fiscal year 2021<\/h2>\n\n\n\n

Crown Resorts Limited has shared its financial results for the fiscal year 2021, reporting\u00a0revenue down 31 per cent<\/strong>\u00a0year-on-year to AU$1.5bn (US$1.1bn). Reported EBITDA was down 77 per cent<\/strong>\u00a0to AU$114.1m. Crown reported an NPAT loss of AU$261.6m.<\/p>\n\n\n\n

The company attributed the losses to the Covid-19 restrictions<\/a> and multiple countermeasures ordered by the government as well as the temporary closures of Crown Melbourne<\/a> and Crown Perth.<\/p>\n\n\n\n

Jane Halton<\/strong>, Crown\u2019s interim Chairman, said: \u201c2021 has been a challenging year for Crown, with intense regulatory scrutiny and unprecedented impacts on business operations from the Covid-19 pandemic.\u201d<\/p>\n\n\n\n

Crown Melbourne VIP revenue<\/strong> plummeted 98 per cent to AU$4.4m as gaming operations were closed for 160 days of the financial year.<\/p>\n\n\n\n

As for Crown Perth<\/strong>, the venue reported revenue of AU$742.8m, up 21 per cent. Main floor gaming revenue<\/strong> was AU$478.3m, up 38.9 per cent. That comprises table games revenue of AU$171.7m, up 24.8 per cent, and gaming machine revenue of AU$306.6m, up 48.2 per cent. VIP revenue<\/strong> was AU$0.4m, down 99.1 per cent.<\/p>\n\n\n\n

The company said Crown Sydney<\/a>\u2018s non-gaming operations had progressively commenced operation throughout the year<\/strong>, with all areas of the hotel resort now complete. The gaming areas are ready for opening on a staged basis pending a determination of suitability by the regulator<\/strong>, ILGA.<\/p>\n","protected":false},"excerpt":{"rendered":"

Crown Resorts has announced it has banned 250 high rollers who couldn’t explain where their money came from or raised other probity concerns.<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Crown Resorts has implemented stringent probity measures, banning 250 high rollers due to source-of-funds concerns, as it navigates ongoing Royal Commissions and seeks to retain its gaming licenses. The company reported a 31% revenue decline and a significant NPAT loss for FY21, largely attributed to COVID-19 restrictions and regulatory scrutiny, while also rejecting prior acquisition bids from Blackstone and Star Entertainment.","focusai_entities":"Crown Resorts, Allan McGregor, Steven McCann, Blackstone, Star Entertainment, Jane Halton, ILGA","focusai_location":"Australia, Melbourne, Perth, Sydney","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), payments_fraud_aml (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Regulatory Impact on Valuation","query":"How might the ongoing Royal Commissions and potential licensing outcomes for Crown Melbourne and Crown Sydney impact the enterprise valuation and future M&A prospects for Crown Resorts?"},{"label":"AML Compliance Evolution","query":"What specific enhancements to Crown Resorts' AML and probity frameworks, beyond the high-roller ban, are being implemented to satisfy regulatory requirements and prevent future compliance breaches?"}],"footnotes":""},"categories":[16336,439,158],"tags":[14657,23911],"class_list":["post-22153","post","type-post","status-publish","format-standard","hentry","category-australasia-news","category-legal-news","category-slider-home","tag-crown-resorts","tag-gambling-regulation"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=22153"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22153\/revisions"}],"predecessor-version":[{"id":22174,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22153\/revisions\/22174"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}