Crown Resorts revealed that authorities in Western Australia have postponed the Perth Casino Royal Commission’s deadline. This commission is currently examining the company’s practices. Originally slated for November 2021, the conclusive report is now anticipated on March 4, 2022.
This deferral is partially attributed to the adjusted schedule of the Victorian Royal Commission, which is also scrutinizing Crown. This particular inquiry was recently prolonged to October 15th.
Western Australia’s Premier, Mark McGowan, indicated that this will provide the Perth Commission adequate opportunity to meticulously analyze the discoveries of the Victorian investigation. He stressed the government’s belief that this extension optimally serves the public’s interest.
These Royal Commissions arise from grave apprehensions regarding Crown’s business conduct, encompassing their management of anti-money laundering procedures and wider shortcomings in corporate governance.
Further intensifying the situation, Counsel Assisting Adrian Finanzio recently contended that Crown should possibly forfeit its Victorian casino license entirely. This result, though deemed improbable by certain parties, would carry substantial consequences.
The shuttering of Crown Melbourne would signify a considerable revenue deficit for the state. A more plausible outcome might entail permitting the casino to function under stringent regulations and supervision.
Specialists suggest the Royal Inquiry opted for a wider strategy. Their goal, rather than immediate sanctions, is to enhance rules and supervision.
Crown Resorts, however, remains in a precarious position. Should the Inquiry unearth substantial proof of misconduct, it retains the authority to suspend or even rescind the company’s gaming permit.