In a decision that echoes through the Australian business landscape, Crown Resorts has finally secured approval to operate its Sydney casino. This long-awaited green light, granted on April 23rd, 2024, by the New South Wales Independent Casino Commission (NICC), signifies a turning point for the company.

However, the path to this point has been controversial, forcing Crown to undergo intense scrutiny and implement significant reforms. The approval will have significant implications, not only for the company but also for the broader Australian gambling industry and the local economy.

A Look Back at Crown’s Tumultuous Journey

Crown’s Sydney aspirations were initially met with enthusiasm. In 2013, the development of a $1.5 billion luxury resort with an integrated casino at Barangaroo, a prime location in Sydney Harbour, was approved.

However, the path to opening wasn’t smooth. In 2021, a devastating inquiry led by former judge Patricia Bergin, SC, exposed a series of concerning practices within Crown Resorts. The issue unearthed evidence of money laundering, irresponsible gambling practices, and connections to organized crime syndicates through the company’s dealings with high-roller junket operators.

These revelations sent shockwaves through the Australian public and regulatory bodies. Crown’s license for the Sydney casino was suspended, and its suitability to operate in New South Wales was called into question.

Regaining Trust

Faced with the potential loss of its Sydney venture, Crown embarked on a comprehensive reform program. The company underwent a leadership overhaul, with a complete restructuring of its board and senior management.

Furthermore, the organization focused on cultural change. It puts a high priority on responsible gambling, anti-money laundering, and strong governance. Crown also implemented stricter compliance protocols and risk management strategies.

This commitment to reform was further strengthened by a change in ownership. In June 2022, US private equity giant Blackstone acquired Crown Resorts for $8.9 billion. Blackstone, known for its focus on responsible investment, pledged to uphold the highest standards of governance and compliance. This commitment resonated well with regulators, demonstrating Crown’s dedication to reform.

What’s more, this shift brought in new leadership and significant investment. It includes $200 million specifically allocated to support responsible gambling initiatives and anti-financial crime initiatives.

Notably, Crown Sydney adopted cashless gaming for all electronic table games, a first for casinos in New South Wales. This demonstrated its commitment to addressing money laundering concerns.

A New Dawn for Crown

The NICC’s decision to grant Crown Sydney its license reflects confidence in the company’s reform efforts. However, the approval comes with a set of stringent conditions. The NICC will maintain close oversight, and Crown will be obligated to demonstrate ongoing adherence to new regulations and compliance protocols.

This period of conditional operation serves as a probationary phase. During this time, Crown must consistently prove its suitability as a responsible casino operator.

For the Australian gambling industry, Crown’s Sydney approval signifies a potential turning point. The industry has faced increased scrutiny in recent years, with calls for stricter regulations to curb problem gambling and enhance anti-money laundering measures.

Crown’s experience serves as a cautionary tale. It highlights the severe consequences of non-compliance and the importance of responsible practices. The industry will likely see a ripple effect with other gambling operators, including the online casino in Australia. They will re-evaluate their own internal controls and compliance measures to avoid a similar situation.

The economic impact of Crown Sydney’s opening is expected to be substantial. The casino complex is projected to create thousands of jobs and generate significant tax revenue for the New South Wales government. It should also contribute to the revival of Sydney’s tourism industry.

However, concerns remain regarding potential social costs associated with increased gambling activity. Measures to mitigate problem gambling addiction and ensure responsible practices will be crucial in the long run.

The Public’s Verdict: A Jury Still Out

While the green light for Crown Sydney signifies a step towards regulatory reconciliation, the court of public opinion remains in session. The controversies that engulfed Crown have left a deep scar on the company’s image. Regaining the public’s trust won’t be a quick fix; it will be a long and arduous process demanding sustained commitment from Crown.

Regaining trust requires more than just regulatory compliance. Crown needs to demonstrate a genuine commitment to responsible gambling practices. As part of this effort, it is important to implement effective player identification and monitoring systems as well as provide support services for problem gamblers. It should also encourage a culture that prioritizes player well-being over maximizing profits.

Transparency will be a key factor in this process. Open communication with the public about Crown’s reform efforts, including detailed information on implemented changes and their effectiveness, is crucial.

Crown should be proactive in engaging with stakeholders. This includes community groups, problem gambling organizations, and the media. Regularly publishing independent audits and reports on its compliance efforts would also demonstrate a commitment to transparency.

A Second Chance, a Continued Watch

The story of Crown Sydney goes beyond the fate of a single casino. It represents a critical moment for the Australian gambling industry. As Crown Sydney prepares to open its doors, the industry as a whole face a period of heightened scrutiny and potential reform.

Whether Crown can capitalize on this second chance and the industry can navigate a more responsible path remains to be seen. Only time will tell if the lessons learned from Crown’s tumultuous journey will lead to a more sustainable and responsible future for Australian gambling.

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Two 2023 police raids at Mt Lawley and Cloverdale gambling dens helped authorities seize almost $190,000 in cash, along with gambling cards and chips usually found at Monte Carlo casinos.

The two underground locations used for illegal gambling were allegedly run by a number of Crown Casino workers. 

The casino chips and blocks of cash will be destroyed as police efforts continue toward targeting more underground venues. 

$130,000 Seized from Mount Lawley

Last April, police raided a Mount Lawley business where it seized close to $130,000 from an alleged illegal game, along with tens of thousands of dollars worth of casino chips, a baccarat table cover, and gaming cards.

An ex-Crown Perth employee is believed to have allegedly recruited three additional dealers from the same casino and instructed them to run games that would allegedly target members of organized crime or problem gamblers.

All three dealers had their licenses canceled.

$60,000 Seized from Cloverdale Home Raid

At the end of 2023, during a raid on a Cloverdale home, police allegedly discovered 16 players who had been previously banned from the casino plus $60,000. 

The respective home was suspected of allegedly operating a game without a permit or license. 

A 35-year-old man pleaded guilty to money and property laundering.

While gambling activities in charities and clubs are permitted in Western Australia via a permit, police allege the respective operations did not have one.

“Eventually They’ll Pop Back Up”

According to Gaming and Regulation executive director Jennifer Shelton in an interview for 9News, these Australian criminal organizations that are targeting vulnerable individuals “who are then using it for other criminal gains” are currently laying low. 

However, Shelton is confident that “eventually they’ll pop back up either in the same location or same premises.” 

The director added that organizers were interested in targeting Crown Casino employees and recruiting both problem gamblers who are patrons at the facility, as well as dealers.

The vulnerable players are either self-excluded players or individuals who are no strangers to the world of organized crime or who have accumulated “unexplained wealth.”

At the start of the year, Crown Resorts revealed that illegal online gambling websites had been using their intellectual property to deceive consumers.

Police and Gaming Minister Paul Papalia issued a statement regarding the events, saying the tighter supervision, casino monitoring, and organized crime prevention in casinos will get, the more likely we are to see people “try and get around it.”

Gambling is considered a serious public health risk in the context of hundreds of millions being lost to the activity each month. 

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New York Gov. Kathy Hochul has already confirmed that the 2024 Belmont Stakes is headed for Saratoga Race Course, in a move that is designed to retain interest in horse racing and ensure that local horse racing aficionados do not skip a beat of the action.

Saratoga Likely to Play Host to Belmont Stakes in 2025

The Belmont Stakes is part of the Triple Crown, the single-most bet-on horse racing event in the world, and is considered to be the most prestigious and venerated such event in the first place. Yet, the Belmont Stakes may not be around for just one season, as the Belmont Race Course renovations could take up close to two years to complete, with the project finishing in time for 2026.

The 2025 completion date is still a moving target, which may see the hosts keen to avoid any sudden changes of venue and stick to Saratoga instead. The race is typically held in the summer with the 2024 dates already set for June 7-8, 2024. Meanwhile, the famed venue, The Belmont Park itself, is receiving a $455-million facelift itself.

New York Racing Association president and CEO David O’Rourke has echoed those sentiments, arguing that Saratoga would most likely play host for two years in a row. To build excitement, the Belmont Stakes in 2024 will also come with a $2 million prize pool, adding to the festive mood.

The change of venue is no big deal to fans either it seems, as they are keen to see the Belmont Stakes run, especially when they know that they will be returning to the original venue after a few seasons anyway.

Change in Format Offers Interesting Opportunities for Bettors

Notably, the Saratoga event will be run at 1 ¼ miles which will be the distinct change other than the venue. This should add an interesting quality to betting predictions as the event is usually run at 1 ½ miles, and adding the extra distance could produce unlikely winners and upset bookmaker wisdom.

Belmont Park underwent significant changes back in 1963-1967, and this is in fact the only time that the event was moved out of the historied venue. The renovations this time around will be going at a much briskier clip allowing fans to come back to the horse racing venue of the century.

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