• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Monday 12 May 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Crown says 70 new staff added to financial crimes, responsible gaming teams

Ben Blaschke by Ben Blaschke
Mon 5 Jul 2021 at 07:22
OPINION: Crown Resorts looks a natural fit for US casino giant Las Vegas Sands
36
SHARES
903
VIEWS
Print Friendly, PDF & Email

Embattled Australian casino giant Crown Resorts says it has added an additional 70 full time employees to its Financial Crime & Compliance and Responsible Gaming teams ahead of another key week of testimony by the Victorian Royal Commission into Crown Melbourne.

According to a trading update issued early Monday morning in which Crown said it expects to report a loss for the year ended 30 June 2021, the addition of approximately 70 employees is part of the company’s reform agenda which seeks to “increase resourcing and capability across a number of key areas.”

It also follows revelations around compliance emerging from last year’s NSW inquiry into Crown Resorts, which ultimately deemed it unsuitable to hold a state casino license, and from the ongoing Victorian Royal Commission into Crown Melbourne.

Crown said Monday that it expects to report theoretical EBITDA before Closure Costs and Significant Items of between AU$240 million and AU$250 million and theoretical EBITDA after Closure Costs but before Significant Items of between AU$90 million and AU$100 million. A full year loss is expected although no figure was given, with the results still subject to review by the board.

Crown also warned of more negative impact to come in FY22 due in part to the ongoing COVID-19 pandemic and related property closures, but also further fallout from Royal Commissions in Victoria and Western Australia.

“The outcome of those regulatory processes may potentially impact Crown’s financial performance,” it said. “Crown also expects to incur increased corporate costs throughout the 2022 financial year, including legal, consulting and associated costs, whilst these regulatory and any resulting processes continue.”

On a positive note, the company said it has already utilized apartment sales to fully repay a AU$450 million project finance facility put in place last year to complete construction of Crown Sydney. Group-wide net debt currently sits at approximately AU$900 million, Crown added.

RelatedPosts

Australian casino operators to face increased regulatory oversight in coming years: Fitch

Australia’s casino crackdown in the spotlight as authorities reveal rising illegal casino raids in Sydney

Tue 18 Mar 2025 at 06:28
Veteran MGM Resorts executive Ed Domingo to replace Mike Volkert as Crown Melbourne CEO

Veteran MGM Resorts executive Ed Domingo to replace Mike Volkert as Crown Melbourne CEO

Mon 17 Mar 2025 at 08:28
Crown Resorts CEO wants Crown Melbourne to become global tourism icon

Crown Resorts CEO wants Crown Melbourne to become global tourism icon

Wed 12 Mar 2025 at 03:22
Crown Melbourne to transform entertainment venue The Palms into 1,200-seat theater as property transformation gathers pace

Crown Melbourne to transform entertainment venue The Palms into 1,200-seat theater as property transformation gathers pace

Wed 26 Feb 2025 at 09:39
Load More
Tags: ComplianceCrown MelbourneCrown Resortsresponsible gamingroyal commission
Share14Share3
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – The real reason Philippines casino revenues are down

Editorial – The real reason Philippines casino revenues are down

by Ben Blaschke
Sun 30 Mar 2025 at 23:04

After enjoying a post-COVID surge in gaming revenues at its licensed casinos, the Philippines has hit a rocky patch. In...

Inside Thai IRs

Inside Thai IRs

by Andrew W Scott and Ben Blaschke
Sun 30 Mar 2025 at 22:59

No time to read this whole article? Here are the bullet points! With passage of Thailand’s Entertainment Complex Bill through...

Resorts World Las Vegas – Lighting up the north

Resorts World Las Vegas – Lighting up the north

by Andrew W Scott and Ben Blaschke
Sun 30 Mar 2025 at 22:52

Inside Asian Gaming recently visited Genting’s American icon Resorts World Las Vegas to take a closer look at a property...

A baccarat perspective

A baccarat perspective

by Ryan Hong-Wai Ho
Sun 30 Mar 2025 at 22:37

In the first of a two-part series, Ryan Ho explores how gaming innovations and market changes have shaped the prominence...

Evolution Asia
Aristocrat
GLI
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Bally’s Chairman Soo Kim talks after deal sealed to acquire Australia’s Star Entertainment

Bally’s Chairman Soo Kim talks after deal sealed to acquire Australia’s Star Entertainment

by Newsdesk
Wed 9 Apr 2025 at 06:16

Star Entertainment Group confirmed Monday it had entered into a binding term sheet with US casino operator Bally’s Corp to take control of the company as part of a US$300 million (US$180 million) deal. The term sheet, comprising a multi-tranche...

China-owned contractor of Chow Tai Fook’s Baha Mar ordered to pay US$1.6 billion to original owner for “many acts of fraud”

New York appellate court dismisses China Construction America’s appeal in US$1.6 billion Baha Mar fraud case

by Ben Blaschke
Wed 9 Apr 2025 at 05:59

A New York court has dismissed an appeal by China Construction America, Inc (CCA) against a Supreme Court ruling in October requiring it to pay US$1.6 billion to the original owner of Bahamas casino resort Baha Mar for committing “many acts...

Trade union warns massively increased casino pokies tax in NSW will cost jobs

Pub baron Bruce Mathieson agrees additional AU$100 million Star investment, reduces Bally’s contribution to AU$200 million

by Ben Blaschke
Wed 9 Apr 2025 at 05:40

Star Entertainment Group’s largest individual shareholder Investment Holdings Pty Ltd has entered into a binding term sheet with US casino operator Bally’s Corp that will see it subscribe for AU$100 million (US$60 million) in convertible bonds, reducing in the process...

RWLV names former MGM executive Greg Shulman as EVP of International Marketing

RWLV names former MGM executive Greg Shulman as EVP of International Marketing

by Newsdesk
Wed 9 Apr 2025 at 05:35

Genting Group’s US flagship Resorts World Las Vegas (RWLV) has announced the appointment of casino industry veteran Greg Shulman as Executive Vice President of International Marketing. Continuing the property’s recent management overhaul, RWLV said Shulman will lead its international casino...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English