Crown Resorts has been advised by the Perth Casino Royal Commission that it is unfit to operate a casino but has been offered a two-year reprieve to demonstrate that it can become fit under the supervision of an independent monitor.
It made 59 suggestions for change, ranging from boardroom structure to more responsible gaming and anti-money laundering practices.
The Commission said: “We determined that in order to become suitable each entity would be required to embark on a pathway to suitability, with their remediation activities overseen by an independent monitor. This pathway would take about two years to travel. At the end of it, the monitor would provide a report to the Gaming and Wagering Commission.”
The Commission is seeking a solid commitment to pre-set weekly loss and time restrictions, as well as a $10 maximum wager limit on all EGMs on the main gaming floor and a requirement that players take a 15-minute break every three hours.
The Commission added: “We have further found that there have been numerous deficiencies in the manner in which the Gaming and Wagering Commission has exercised its power and responsibilities in relation to casinos and casino gaming.”
It blamed the Department of Local Government, Sport and Cultural Industries for some of these failures.
“This regulatory failure has, in turn, contributed to the past and current failure of the Perth Casino licensee and its associates to adequately mitigate those same risks,” it said.
Steve McCann, Crown’s Managing Director, and Chief Executive Officer, said the company would ‘operate effectively and constructively with the Western Australian government on the final report’s conclusions and recommendations.
“Significant progress has been made with Crown’s transformation program, the implementation of company-wide reforms, and establishing the highest standards of governance,” he said. “This includes investment in people, systems, processes, culture and a sharp focus on responsible gaming and the prevention of financial crime. Crown remains committed to continuous improvement across all facets of the business and is prioritizing the delivery of safe and responsible gaming across all of our resorts, including Crown Perth.”