Commissioners Given More Time to Investigate Crown
The Royal Commission into Crown Resorts (ASX: CWN) has been extended by the Western Australian government until March 2022 due to a request from the commissioners for more time to complete the investigation.
The inquiry was due to end on November 14, 2021; however, the Royal Commission has asked for more time to ensure that it can “properly serve the public interest” and produce a full and detailed report and recommendations.
The deadline of the Victorian Royal Commission was also delayed to give the Perth Casino Royal Commission time to ensure that any findings and recommendations are fully considered. Western Australia’s government has received the Perth Casino Royal Commission interim report, and it will be tabled when the parliament returns to sit in August.
This will provide commissioners with additional time to carry out their investigations and consider the findings of the Victorian Royal Commission. The state government believes that public interest will be best served if the Perth Casino Royal Commission has sufficient time to produce its final report.
The Victoria inquiry is looking into whether Crown is suitable as a licensee within the state. Last week, Adrian Finanzio, the counsel assisting the Commission into Crown, told the Victorian Royal Commission that Crown is “not a suitable licensee.” He pointed to failures in anti-money laundering procedures and tax evasion efforts, which he believes means that the public may never see Crown as suitable.
According to Finanzio, the Bergin Inquiry into Crown’s suitability to hold a license in New South Wales found major flaws, and based upon that, the operator remains an unsuitable licensee.
Crown was ordered to pay $22.5 million in May as part of measures imposed by the New South Wales Independent Liquor and Gaming Authority. It must pay $12.5 million towards the inquiry and pay an annual Casino Supervisory Levy of $5.0 million in both FY2021 and FY2022.
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