July 2024
The CFMEU can’t fix itself – just ask the banks, casinos and PwC
If union and Labor leaders really want to win back trust in the CFMEU, only an independent and transparent inquiry into the union will do.
September 2023
Blackstone underestimated size of Crown Resorts challenge: chairman
Bill McBeath says Blackstone miscalculated the amount of work required to transform the casino giant’s culture and systems following years of scandal.
July 2023
AUSTRAC reluctance to haul people into witness stand a ‘moral hazard’
The nation’s financial crimes agency is in danger of being a “soft touch”, Justice Lee of the Federal Court has warned.
September 2022
Star must face an extra high bar to keep its licence
The Star had years to fix the problems it must have known were brewing inside the business. That should count against it as it fights to keep its licence.
Crown Resorts faces $100m fine for dodgy cheques at Melbourne casino
Crown Resorts is facing another $100 million fine from the Victorian casino regulator.
July 2022
Ian Silk to spearhead Crown Melbourne’s clean-up job
Former AustralianSuper boss Ian Silk has been appointed as the new chairman of Crown Melbourne.
Crown’s road to recovery needed fresh eyes: McCann
Crown Resorts chief executive Steve McCann will be replaced by industry veteran Ciaran Carruthers after he leaves the company in September.
June 2022
‘Ups and downs’: Packer’s emotional farewell to Crown (and the ASX)
Crown’s reform efforts and Blackstone’s perseverance have allowed James Packer to walk away from the mess at Crown Resorts with a handsome payday.
Eyes on WA as Victoria, NSW green-light $8.9b Crown buyout
The Victorian and NSW casino watchdogs are the first of three state-based regulators to green-light Blackstone’s takeover of Crown Resorts.
May 2022
Crown cops record $80m fine for ‘clandestine’ China UnionPay scheme
The Victorian gambling watchdog said Crown illegally churned nearly $164 million through its Melbourne casino with “handsome” benefit to the company.
Tougher casino laws in Victoria designed to ‘hold Crown to account’
The state government has responded to the findings of the bombshell royal commission last year into the practices of the casino operator.
Crown queries Victoria’s $30m tax proposal
Crown Resorts has disputed the Victorian government’s calculation of its proposed higher tax rate on 2600 poker machines at Crown Melbourne.
April 2022
Crown co-operating with watchdog as it face $100m fine
The casino giant told the ASX that it will also assist in any future investigations into misconduct unearthed by last year’s royal commission.
Crown faces $100m fine as Victorian watchdog flexes new powers
Regulator warns that ‘there will also be further disciplinary proceedings arising from other matters highlighted in the royal commission’.
March 2022
Star’s punishment needs to fit the crime
Surely gaming companies must be properly penalised by losing the casino licences they have proved unsuitable to hold.
Bekier won’t be The Star’s last casualty
Matt Bekier’s decision to take accountability for Star’s risk and governance failures is unlikely to stop regulators demanding a much broader overhaul.
Crown still too big to fail, but profit pain is coming
The final probe into Crown Resorts ends with the casino giant’s licences intact. But its operations will become more complex and less profitable.
ASIC lets Crown directors, execs off the hook; AUSTRAC sues casinos
ASIC told around 10 former directors and senior executives they will not face charges for breaching their duties.
February 2022
Crown’s marathon deal will get Packer’s royal assent
Crown’s major shareholder James Packer will not stand in the way of the deal to sell the company to US private markets giant Blackstone.
James Packer’s company pushes back on Crown shareholding cap
The move comes despite Packer previously throwing his support behind such a proposal if it meant Crown could retain its casino licences.