• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 6 September 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

VIDEO: Crown no more than 33% chance of retaining Melbourne casino license, says Cohen

Newsdesk by Newsdesk
Fri 23 Jul 2021 at 06:42
47
SHARES
1.2k
VIEWS
Print Friendly, PDF & Email

Crown Resorts is a 33% chance and shrinking of retaining its casino license for flagship casino Crown Melbourne, according to former CEO and Executive Commissioner of Victoria’s state gaming regulator, Peter Cohen.

Cohen was speaking with Inside Asian Gaming in the wake of this week’s final submissions by Adrian Finanzio, General Counsel assisting Victoria’s Royal Commission into Crown Resorts, who recommended a finding of unsuitability for Crown. Cohen said it was looking increasingly unlikely that Crown would emerge without its casino license being either suspended or revoked.

“Based on what we know in the public domain I suspect [the odds are] one third outright cancellation, one third suspension for a period of maybe 6 to 12 months – or indefinite until the regulator is satisfied that the manager has reformed Crown – and one third Crown being allowed to continue with some conditions,” he said.

“And that last option continues to shrink in my mind, because that’s the equivalent of giving Crown a second chance and they’ve already had their second chance after the [NSW] Bergin inquiry, so they are really on their third chance.

“Regulators generally work on the idea of trying to get a person’s attention – you start lower and increase to get their attention. If the Bergin inquiry is their second chance, I think we found out from the Royal Commission that Crown didn’t really get the message.”

In an extensive interview exploring all possible outcomes of the Royal Commission ahead of Crown’s final submissions on 3 August, Cohen also suggested there was no better time than now for Crown Executive Chairman Helen Coonan to step aside given General Counsel’s recommendation that she be found unsuitable to be an associate of Crown.

However, should the company lose its casino license, Cohen said suspension may be a preferable option than revocation.

“The reason I think suspension is [preferable to] cancellation is to do with the ongoing operation of the casino,” he said.

“It will be much easier for a [temporary] manager to operate that casino – which is an island surrounded by Crown assets – if Crown knows it is a chance of getting that license back.”

Cohen explained that it will be the casino regulator itself, the VCGLR, which will be tasked with final say on Crown’s fate, not the Victorian government. When asked about the Royal Commission’s likely findings given the Counsel Assisting’s recommendations of cancellation or suspension of Crown’s license, Cohen said, “It’s very much an exercise in educated guessing but what we do know is that Royal Commissions historically tend to support what counsel assisting tells the commissioner in closing submissions.

“What Adrian Finanzio has done here is given the Commissioner two options. He has said it is open for you to find that Crown is unsuitable to be licensed and also open to find that Crown continues to be unsuitable but with a potential future where a regulator can find them suitable but with some changes necessary.”

Video timestamps

00:24 Introduction about Crown
02:27 Peter Cohen explains his roles with the Victorian Casino regulator from 1996 to 2010
03:53 Peter explains what he thinks will happen to Crown now
05:31 It is up to the regulator whether Crown loses its license
08:29 Peter explains the options the regulator has
09:18 The regulator can appoint a manager to run the casino, Crown would not operate it
10:34 Who could be the manager?
13:28 How much State government revenue comes from Crown?
15:30 What’s to stop Crown overcharging a manager for hotels, F&B and other non-gaming?
17:27 Bad Crown 1993-2001, Good Crown 2001-2014, Bad Crown 2014-now
24:18 Did Crown simply ignore the regulator?
26:46 Was the regulator crippled by the Victorian government for Crown’s benefit?
28:40 Can the people of Victoria have confidence in the regulator right now?
32:00 Could Victoria decide to follow what NSW is doing with Crown Sydney?
35:41 How would you rate the probabilities of license cancellation or suspension?
37:33 Why Peter he thinks suspension is better than cancellation
42:11 Is Crown simply an irredeemable organization?
43:35 “If I am a shareholder in Crown, I’m asking why is Helen Coonan still there?”
45:46 If Finkelstein recommended cancelling the license, and you were the regulator, would you cancel the license?
46:48 This matter may end up in the Supreme Court
49:10 I think we have to see Helen Coonan gone before the end of August
50:14 In my view she should go tomorrow, the earlier the better
51:42 Crown could be losing their license in January
53:13 Is this the downfall of the legendary Packer empire?

RelatedPosts

Ciarán Carruthers: Crowning glory

Crown Resorts rolls out AI to improve player protection abilities

Fri 5 Sep 2025 at 05:37
The Star Sydney’s casino license in limbo as final report from second inquiry handed to regulator

Son of Star’s largest shareholder joins Star Entertainment Group board as non-executive director

Sun 31 Aug 2025 at 09:16
Australia’s Star Entertainment Group says available cash halved in December 2024 quarter as liquidity crunch bites again

Star Entertainment Group falls to AU$471.5 million loss in FY25 as remediation, regulatory hurdles continue to bite

Fri 29 Aug 2025 at 07:38
Asia market roundup

Asia market roundup

Thu 28 Aug 2025 at 12:26
Load More
Tags: Australiacasino licenseCrown MelbourneCrown ResortsHelen CoonanInside Asian GamingPeter CohenRaymond Finkelsteinroyal commission
Share19Share3
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
NWR

Related Posts

IAG announces 19 sponsors of IAG EXPO’s Manila After Dark Official Welcome Event at Newport World Resorts on Monday 8 September

IAG announces 19 sponsors of IAG EXPO’s Manila After Dark Official Welcome Event at Newport World Resorts on Monday 8 September

by Newsdesk
Fri 5 Sep 2025 at 10:26

Inside Asian Gaming is delighted to announce a total of 19 sponsors for Manila After Dark (MAD) next Monday 8 September – the official welcome event for IAG EXPO, taking place at Manila’s Newport World Resorts. Running from 8 to 10 September,...

MGM Cotai

Bill Hornbuckle: Macau promotional environment now locked in place despite rapid return of VIPs

by Ben Blaschke
Fri 5 Sep 2025 at 06:45

Macau’s notoriously aggressive promotional environment has settled into a rhythm, according to MGM Resorts CEO and President Bill Hornbuckle – despite competition in the premium gaming segments rising as former junket players return to the city in swathes. Hornbuckle discussed...

AGEM Index up 14.4% in October on Aristocrat, Light & Wonder stock price gains

AGEM Index grows 5% in August as Konami, Aristocrat show strong stock performance

by Newsdesk
Fri 5 Sep 2025 at 05:56

The AGEM Index – a monthly stock performance guide comprising 10 global gaming suppliers – grew by 5.0% month-on-month or 93.66 points to 1,983.73 points in August, with Konami seeing the largest positive contribution. Konami had only last month been...

A New Macau

Macau GGR now seen hitting US$31.8 billion as Jefferies again upgrades 2025 revenue forecast

by Ben Blaschke
Fri 5 Sep 2025 at 05:40

Investment bank Jefferies has again upgraded its Macau GGR forecast for 2025, with analysts now expecting gaming revenues to reach MOP$248 billion (US$31.8 billion) – revised upwards from its previous forecast of MOP$237 billion (US$29.3 billion). In a note, Jefferies...

Your browser does not support the video tag.


IAG

© 2005-2025
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

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English