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Crown Resorts committed to terminating junket operations

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Crown Resorts committed to terminating junket operations

Australian casino operator Crown Resorts Ltd has reportedly committed itself to terminating junket operations and switching to cashless operations in its casinos, as part of a deal to restore gaming licensing for its new Sydney project at Barangaroo, in New South Wales.

The details, reported by local media outlets, were announced on Thursday, 13 May 2021 by that state’s regulator, the Independent Liquor and Gaming Authority (ILGA).

In February, Crown Resorts was found unsuitable to run its new Sydney casino, following an inquiry into its fitness for a gaming license in the state. Crown Sydney (pictured) is already licensed for – and running – a hotel and some restaurants for its guests.

One of the inquiry’s recommendations was that the state’s Casino Control Act be amended, to prohibit New South Wales casinos from working with junkets; commonly third-party organisations that introduce VIP gamblers to casinos.

Crown Resorts also faces respective probes into its suitability to operate its casinos in Melbourne and Perth.

The Sydney Morning Herald newspaper quoted a Crown Resorts spokesman confirming that the casino firm would also phase out the use of cash at its Melbourne and Perth casinos.

Crown Resorts is currently the subject of a bidding war over the direction of the company. Earlier this week, Star Entertainment submitted a merger proposal, offering 2.68 of its own shares per Crown Resorts share. It said its proposal valued Crown Resorts shares above AUD14.00 (US$11.00), and would create a combined entity worth AUD12 billion.

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