© Reuters. The Crown Sydney skyscraper at sunset in Sydney, Australia on July 12, 2021. REUTERS/Loren Elliott
(Reuters) – The NSW gaming regulator said on Wednesday it had given Crown Resorts conditional approval to operate a casino at its Sydney casino, days after Blackstone (NYSE: ) Inc won court approval for its $6.3 billion takeover. Open a gaming business.
The Sydney Casino, part of a 75-storey tower that opened in December 2020, had its licence revoked by the Independent Liquor and Gaming Authority (ILGA) ahead of its opening in late 2020, following media reports of its alleged dealings with organised crime groups .
The ILGA, which oversees Crown’s Sydney licence, said it was now “pleased to have reached a stage where Crown can conditionally open a casino business.”
Crown’s chief executive Steve McCann said: “We will now finalise our opening plans and look forward to announcing the details and timing of our launch soon.”
Crown added that it will continue to work with ILGA on reform plans to demonstrate its suitability as a casino operator.
A representative for Blackstone declined to comment.
“Given the need to observe operational changes and ensure changes are embedded in the business, the Authority will consider approving the applicability of crowns until the end of the conditional gaming period, which may be between 18 months and two years,” ILGA Chairman Philip Crow said. Ford said.
He added that Crown must take drastic measures to prevent money laundering and criminal infiltration in its business model.
Crown’s Melbourne resort remains under government supervision.