The Crown Sydney casino has successfully retained its operating permit following a comprehensive restructuring, although it is yet to be determined if the operator has exaggerated the scope of its improvements.

Both Crown Resorts and Crown Sydney expressed their approval of the New South Wales Independent Casino Commission’s (NICC) determination to permit the retention of its casino license. This decision mirrors a similar finding by the Victorian Gambling and Casino Control Commission (VGCCC) deeming Crown Melbourne suitable to maintain its casino license.

Subsequent to its acquisition by Blackstone in June 2022, Crown, under new management and direction, has undergone a AU$200 million (US$192 million) revitalization initiative, implementing a series of reforms encompassing responsible gambling, anti-money laundering measures, governance, compliance, and risk mitigation.

These reforms were executed under the guidance of the new ownership and leadership, including a reconstitution of the boards, such as the Crown Sydney board presided over by John Borghetti.

Among the modifications, Crown Sydney has introduced protocols intended to prevent and identify money laundering activities, including spearheading the implementation of cashless gaming across all Electronic Table Games (ETGs) in New South Wales.

From the moment Crown Sydney commenced operations in August 2022, our primary objective has been the comprehensive reformation of all facets of the business,” declared Mark McWhinnie, Chief Executive Officer of Crown Sydney. “We have executed 432 remedial measures, targeting critical domains such as damage control, fiscal impropriety, regulatory adherence, risk mitigation, and organizational ethos, with all actions reported to the NICC.”

Ciarán Carruthers, Chief Executive of Crown Resorts, remarked, “Following the acquisition by Blackstone, we have installed a fresh executive leadership contingent, revamped managerial structures, and reconstituted the board of directors. Crown stands today as a fundamentally altered entity. The preceding biennium has witnessed a metamorphosis unparalleled in the annals of Australian corporate history.”

This determination by the NICC to permit Crown Sydney to retain its gaming license follows a turbulent epoch for the enterprise. In November 2023, confronted with diminished customer patronage, Crown Sydney unveiled intentions to curtail operational hours and implement a workforce reduction of 180 personnel.