Crown Casino Chinese New Year 2018

• Crown Sydney is a casino and hotel skyscraper in Barangaroo, Sydney, Australia.At a height of 271.3 m (890 ft), with 75 floors, it surpassed Chifley Tower as the tallest building in Sydney, topping out in March 2020, with a final completion date scheduled for December 2020.
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• Crown didn’t become aware of the blue cooler bag footage until it was leaked in October-2018. But the inquiry heard the casino’s anti-money laundering compliance officer concluded it was.

On 26 June 2015, Crown officially announced that the new $6 billion hotel, called Alon Las Vegas, was to be located on the former New Frontier site and to open in 2018. Crown announced in December 2016 that it was halting the project and seeking to sell its investment. In 2016, ground broke on Crown Sydney and will open in 2020.

The Victorian Government is preparing to crack down on Crown Casino, with a special commissioner to be appointed to scrutinise the company's suitability to hold a licence in the wake of a series of allegations against and damning admissions from the gambling giant.

The next review of the Crown Casino's licence, which is conducted every five years, will be brought forward as part of the special commissioner's work.

It follows a concession from Crown to a New South Wales inquiry last month that some of its accounts have likely been used for money laundering.

The last licence review was completed in 2018.

Premier Daniel Andrews this morning dismissed criticism that the decision to appoint a sessional commissioner was a reflection on the track record of the Victorian Commission for Gambling and Liquor Regulation (VCGLR).

'It shouldn't be read down to be a criticism of the VCGLR, it's a dedicated and, if you like, bespoke piece of work. You need to know this industry in order to work out if those operating in it are fit and proper people,' Mr Andrews said.

In a statement to the stock exchange, Crown Resorts said it had 'actively engaged with the VCGLR in relation to the matters the subject of the ILGA Inquiry (in NSW), including on Crown's reform agenda'.

'Crown will continue to work cooperatively with the VCGLR to support this review.'

NSW has delayed granting Crown a licence for its new Sydney high-rollers casino at Barangaroo in the wake of the inquiry recommending the company is not fit to hold a licence.

That inquiry is due to hand down its findings in February.

However Victorian Gaming Minister Melissa Horne said there was a need for an immediate response in Victoria given 'concerning evidence' presented to the NSW investigation.

'This review is needed given the evidence we've seen come out of the NSW inquiry,' she said.

'While we await the findings of that investigation, it's appropriate to bring forward the next review to ensure Crown Melbourne is suitable to hold a licence in Victoria.'

The review will report back to Ms Horne next year.

The Victorians Green have called for the casino to have its licence suspended immediately while the review is carried out.

'The Greens have repeatedly called on the State Government to curb Crown's unacceptable behaviour, but sadly it has taken a NSW inquiry to spur them to act,' party leader Samantha Ratnam said.

'Given the damning evidence coming out of the inquiry — including bags of cash under desks, tampering with poker machine controls and money laundering — Crown shouldn't be allowed to retain its Victorian licence while this investigation takes place.'

Crown criticised over junkets, fined over poker machine buttons

Crown has been the subject of a series of allegations of improper conduct in recent years, including those aired on the ABC. They have included allegations about tampering with buttons on Crown's poker machines for which the company was fined $300,000.

Whistleblowers have previously raised concerns about money laundering and a failure of the Victorian regulator to do its job.

The Nine newspapers and 60 Minutes also featured a series of stories about organised crime links to lucrative foreign junket operators and issues around money laundering.

Up until now, the Andrews Government has backed the gambling regulator to keep checks on the casino despite widespread criticism the commission is toothless.

The VCGLR has been investigating the casino and the nation's anti-money laundering watchdog is also looking at the casino.

The revelations in the NSW inquiry placed major pressure on the Victorian Government and the VCGLR to take the allegations seriously.

A commissioner has yet to be appointed.

Crown Sydney is one of the most anticipated projects in Sydney, as it will give a new look to the Barangaroo waterfront area. The massive addition to the area will include a hotel, apartments, restaurants, and a VIP-focused casino.

Construction on the project finally began in 2016, though sometimes stalled periodically due to legal battles and other red tape. Though the estimated completion date has changed numerous times, it is now expected to open on Christmas Day 2020. That’s what James Packer says, anyway.

Packer Visits Sydney Site

Earlier this month, billionaire investor and largest Crown Resorts shareholder James Packer emerged from a mostly self-imposed exile from public life to tour the Crown Sydney development site. He seemed pleased with the progress of the $2.4 billion project at Barangaroo.

In fact, Packer was so pleased that he announced to the media that it would open to the public on Christmas Day this year.

The dates for the opening of the property have changed numerous times. When the project first began, the opening date was expected to be early 2020 for the first tower and the end of 2020 for the rest of it. But along the way, due to numerous battles over the height of the tower and other major details, the opening was delayed. Most expected it to open sometime in 2021.

Crown Casino Chinese New Year 2018 2019

Packer was particular, though, by naming Christmas Day of this year in his first public appearance in more than a year.

“It’s really pleasing,” Packer said to the media, referring to the opening being three months earlier than planned. “We are truly indebted to our builders, architects and tradies who have made this possible.”

Mid-2019 Issues Resolved

Crown Casino Chinese New Year 2018 Year

As mentioned, the Crown Sydney project had been delayed numerous times. The most significant and lengthy problem had to do with the height of the tower.

Crown Resorts believed they paid a price for the property that included an exclusive view of the harbor. At one point, Crown and its building partners discovered that the Barangaroo Delivery Authority(BDA), run by the New South Wales government, took bids from other companies for taller buildings that would hinder the Crown tower view.

The two entities went to court, and the battle moved through to the NSW Supreme Court. In December 2018, that court ruled for Crown, ruling that the BDA violated its development agreements with Crown and co-plaintiffs Lendlease.

An appeal by the BDA resulted in a settlement. The details were not publicized, but the NSW government dropped its appeal, and Crown retained its claim to the exclusive views.

Crown Sydney Project Details

The website dedicated to the project, which still boasts of an early 2021 opening date, gives insight into the new destination for visitors to Sydney. It is described as a “pinnacle of modern design that harmoniously brings together an opulent hotel, prestigious apartments, signature restaurants, premium gaming areas and a lavish spa.”

One Barangaroo will be the tower of residences – 82 of them – with views of the Sydney Harbour and its landmarks. The apartments range from 2-bedroom to 6-bedroom homes with some Duplex Penthouses as well.

Packer purchased two floors of the hotel, not the residence tower, that are being converted into a second home for him. “I grew up in Sydney, and my kids still spend time here,” he said. “It’s a beautiful place, and I hope to spend more time visiting.”

And there will be gaming. But Crown Sydney has taken special care not to call the casino a casino. The website calls it a “premium table games experience.”

Evidently, there will be no pokies, only table games like baccarat, blackjack, and roulette. And though the website is sparse on details, it does refer to a “VIP-only gaming facility.”

Previous Problems with VIP Gaming

The Crown scandal that took the company and gaming community by storm in 2019 had fallout that particularly affected VIP gaming in Australia.

Much of the spotlight was on VIP gamblers at Crown properties, many of whom used junkets to travel from Asia and gamble for high stakes. After the scandal broke, though, the government crackdowns began, and most junkets stopped.

This put such a dent in Crown’s bottom line that Crown Executive Chairman John Alexander had to acknowledge it at a shareholder presentation in late 2019. He revealed that VIP turnover for the first three and a half months of the new fiscal year, which started July 1, was down 46%.

Crown blamed much of the downturn on the Chinese economy hurt by the United States and on the media that publicized the scandal.

Regardless, Crown Sydney is going to face a challenge to create a successful new VIP-only gaming facility, one with no pokies, at the new property. The new environment and scrutiny on high-stakes gambling will be a test of Crown’s dedication to gaming.