Australia's Crown Resorts targets early 2022 opening for Sydney casino

[BENGALURU] Australia's Crown Resorts on Monday said it aims to open the casino at its flagship Sydney resort early next year as it works with regulators to address concerns over governance failures and alleged money laundering.

The casino, part of a 75-floor tower complex which opened in December last year, had its license suspended by the Independent Liquor and Gaming Authority (ILGA) in 2020 following reports alleging company dealings with organised crime groups at its premises.

The reports triggered powerful Royal Commission inquiries which found Crown unfit to hold gambling licenses in Sydney and Melbourne, and called for sweeping changes to its board and culture.

In a trading update, the company said talks with the gaming authority were ongoing as it targets opening a gaming floor in Sydney early in the new year, and that it had made good progress in addressing regulators' concerns.

Crown said it had seen business at its sites pick up in recent weeks, especially over the weekends, as Australia relaxed Covid-19 curbs, but flagged annual corporate costs to be higher than last year at around A$130 million (S$127 million).

REUTERS