The Royal Commission into whether Crown Melbourne is suitable to retain its casino license delivered its findings this week, finding Crown unsuitable in its current form but given two years to prove otherwise under the supervision of a government-appointed Special Manager.
A raft of other recommendations were also tabled, including an increase to the maximum fine able to be levied by the regulator for breaches, a ban on junkets and a directive for majority shareholder Consolidated Press Holdings, controlled by James Packer, to reduce its shareholding from 37% to no more than 5%.
IAG speaks with Peter Cohen, former CEO and Executive Commissioner of Victoria’s state gaming regulator, to explore exactly what this means for Crown.
