Executives of Crown Resorts have hailed the decision by Victoria’s gaming regulator to return its casino license as one of the most significant milestones in the company’s history.
The Victorian Gambling and Casino Control Commission (VGCCC) said Tuesday that it was “clearly satisfied” that Crown Melbourne is again suitable to operate the Melbourne casino and that it is in the public interest for the Melbourne casino license to remain in force following two years spent operating under the close supervision of Special Manager Stephen O’Bryan.
In its response to the news, Crown said that it has invested around AU$200 million (US$130 million) since 2021 into its transformation, introducing extensive reforms across harm minimisation, financial crime, governance, compliance, risk and culture, which has been accelerated under new ownership and management.
It also noted that the decision falls in the year of Crown’s 30th anniversary, having first opened the doors of its temporary casino back in 1994.
“This outcome is one of the most significant milestones in Crown Melbourne’s 30-year history,” said Crown Melbourne CEO, Mike Volkert.
“It would not have been possible without the efforts of our team members, who have worked diligently over the past two years to implement meaningful change that has truly transformed our business.
“What we have achieved must be a continual focus for everyone at Crown Melbourne. We know the work doesn’t stop here, and we are committed to delivering the highest industry standards and putting the welfare of our guests at the forefront of decision-making, day in and day out.
“I would also like to acknowledge and recognize the Victorian Special Manager, Stephen O’Bryan KC and the Office of the Special Manager and the VGCCC led by Chair Fran Thorn and CEO Annette Kimmett AM for raising the standards of the entire industry.
“Crown Melbourne is now the safest venue in Victoria for gaming and entertainment, and we look forward to continuing to welcome our guests.”
Crown Resorts CEO Ciaran Carruthers added, “Since the acquisition of Crown Resorts by Blackstone in June 2022, and the appointment of new boards and a new executive leadership team, Crown Resorts has pioneered one of the most complex transformations ever undertaken in Australia.
“Over 10,000 pages of documentation have been submitted and 770 remediation activities have been delivered to our state regulators, fundamentally rebuilding our organization from the inside out.
“Holding a casino licence is a privilege and an obligation we take extremely seriously. I am proud of what our team has accomplished, and the safe environment Crown Melbourne now operates in.
“Together we have built a stronger, better Crown and our unrelenting focus will remain on delivering the highest standards of integrity, harm minimisation and service excellence across our industry.”
Crown said it expects further updates regarding the status of its Crown Sydney license in the coming weeks, while remediation efforts for Crown Perth are ongoing.
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