Crown Sydney to Become Smoke and Cash Free
Australian operator Crown Resorts (ASX: CWN) has reached a new deal with the New South Wales regulator that will see it implement cashless gambling as part of efforts to combat money laundering. The deal will also see the operator ban indoor smoking at its casinos and stop the practice of bringing international high rollers.
The decision to go cashless is a direct result of the money-laundering scandal and inquiry into the operator earlier this year. The Independent Liquor and Gaming Authority (ILGA) said that it has taken note of the company’s efforts to earn back the right to operate its Sydney casino. However, a final decision will not be made until Crown has proved that it has made the required structural changes.
As part of this, it was reported this week that cash is to be banned in Crown’s Sydney casinos, as well at its locations in Melbourne and Perth. However, no timeline was given. A spokesperson for the company said, “This will be a gradual transition with the customer in mind, with an implementation timeline still to be determined.”
Crown Resorts is not only under investigation in Sydney; there is a royal commission looking into its Perth casino as the Bergin Inquiry discovered that money has been laundered there too.
However, despite the ongoing investigations, Duncan Ord, the head of Western Australia’s gaming regulator, has confirmed that he will be retiring this year together with three other director generals. Therefore, WA Premier Mark McGowan believes that this might be a good opportunity for renewal in the public sector.
The public sector has seen us through some difficult times over the past 18 months brought about by the pandemic. I thank these directors-general for their years of service to the Government and wish them well as they soon embark on their new paths.