• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 10 May 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Crown says 70 new staff added to financial crimes, responsible gaming teams

Ben Blaschke by Ben Blaschke
Mon 5 Jul 2021 at 07:22
OPINION: Crown Resorts looks a natural fit for US casino giant Las Vegas Sands
36
SHARES
903
VIEWS
Print Friendly, PDF & Email

Embattled Australian casino giant Crown Resorts says it has added an additional 70 full time employees to its Financial Crime & Compliance and Responsible Gaming teams ahead of another key week of testimony by the Victorian Royal Commission into Crown Melbourne.

According to a trading update issued early Monday morning in which Crown said it expects to report a loss for the year ended 30 June 2021, the addition of approximately 70 employees is part of the company’s reform agenda which seeks to “increase resourcing and capability across a number of key areas.”

It also follows revelations around compliance emerging from last year’s NSW inquiry into Crown Resorts, which ultimately deemed it unsuitable to hold a state casino license, and from the ongoing Victorian Royal Commission into Crown Melbourne.

Crown said Monday that it expects to report theoretical EBITDA before Closure Costs and Significant Items of between AU$240 million and AU$250 million and theoretical EBITDA after Closure Costs but before Significant Items of between AU$90 million and AU$100 million. A full year loss is expected although no figure was given, with the results still subject to review by the board.

Crown also warned of more negative impact to come in FY22 due in part to the ongoing COVID-19 pandemic and related property closures, but also further fallout from Royal Commissions in Victoria and Western Australia.

“The outcome of those regulatory processes may potentially impact Crown’s financial performance,” it said. “Crown also expects to incur increased corporate costs throughout the 2022 financial year, including legal, consulting and associated costs, whilst these regulatory and any resulting processes continue.”

On a positive note, the company said it has already utilized apartment sales to fully repay a AU$450 million project finance facility put in place last year to complete construction of Crown Sydney. Group-wide net debt currently sits at approximately AU$900 million, Crown added.

RelatedPosts

MGM launches new responsible gaming promotion program for Macau team members

MGM launches new responsible gaming promotion program for Macau team members

Tue 6 May 2025 at 13:05
Ciarán Carruthers: Crowning glory

Former Victorian Attorney-General Martin Pakula named new Chairman of Crown Melbourne

Fri 11 Apr 2025 at 13:58
Australian casino operators to face increased regulatory oversight in coming years: Fitch

Australia’s casino crackdown in the spotlight as authorities reveal rising illegal casino raids in Sydney

Tue 18 Mar 2025 at 06:28
Veteran MGM Resorts executive Ed Domingo to replace Mike Volkert as Crown Melbourne CEO

Veteran MGM Resorts executive Ed Domingo to replace Mike Volkert as Crown Melbourne CEO

Mon 17 Mar 2025 at 08:28
Load More
Tags: ComplianceCrown MelbourneCrown Resortsresponsible gamingroyal commission
Share14Share3
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Knife’s edge

Editorial – Knife’s edge

by Andrew W Scott and Ben Blaschke
Tue 29 Apr 2025 at 15:14

Thailand’s Entertainment Complex journey is at a critical point, with the success or failure of the initiative to be determined...

The changing face of Macau

The changing face of Macau

by Ben Blaschke
Tue 29 Apr 2025 at 15:09

Inside Asian Gaming takes a deep dive into the new, post-COVID Macau where a revenue environment that seems to be...

Born again

Born again

by Pierce Chan
Tue 29 Apr 2025 at 14:47

Premiering in September 2010 at City of Dreams, The House of Dancing Water was a visionary creation by artistic maestro...

Richard Howarth – Testing the limits

Richard Howarth – Testing the limits

by Ben Blaschke
Tue 29 Apr 2025 at 13:17

Richard Howarth, Chief Business Officer APAC for global testing laboratory GLI, discusses his career journey and his passion for fast-paced...

Evolution Asia
Aristocrat
GLI
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Japan Credit Rating Agency affirms Konami’s A+ rating due to “high earning capacity”

Stability in Australia, North America drives 7.4% revenue growth for Konami’s gaming segment in FY25

by Newsdesk
Fri 9 May 2025 at 06:48

Global gaming supplier Konami reported a 7.4% increase in revenue in its Gaming & Systems segment to JPY42.7 billion in the year ended 31 March 2025, with operating profit up by 16.3% to JPY7.3 billion, according to financial statements published...

MGM’s Hornbuckle bullish on “unique” Macau as China stimulus uncertainty sees gaming stocks dive

MGM’s Bill Hornbuckle extends employment contract through end-2028

by Ben Blaschke
Fri 9 May 2025 at 06:34

MGM Resorts CEO and President Bill Hornbuckle has renewed his employment contract with the company through to the end of 2028, after which time he will assume an advisory role to assist with the pre-opening phase of its US$9 billion...

Winds of change

Melco says working with potential buyers on bidding process for City of Dreams Manila

by Ben Blaschke
Fri 9 May 2025 at 06:16

Melco Resorts & Entertainment said Thursday that it is currently in discussions with potential buyers of its stake in Philippines integrated resort City of Dreams Manila and will soon have a shortlist of interested parties that will partake in a...

Melco prices US$750 million Senior Notes offering

Melco smashes revenue and profit estimates in 1Q25, gains market share on powerful performance of Macau resorts

by Ben Blaschke
Fri 9 May 2025 at 05:36

An impressively strong performance in Macau was enough to see Melco Resorts & Entertainment comfortably beat consensus in 1Q25, with the company reporting a 10.8% year-on-year increase in total operating revenues to US$1.23 billion including a 12.2% rise in gaming...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English