Crown Sydney granted six-month extension of interim liquor licenses

Diposting pada

Crown Sydney

0SHARES3VIEWS

The NSW Independent Liquor & Gaming Authority (ILGA) has approved a six-month extension of interim liquor licenses for Crown Resorts AU$2.2 billion Crown Sydney development.

According to a statement issued early Tuesday, the regulator has approved three interim liquor licenses covering a number of non-gaming bar areas and two ground floor restaurants within the Crown Sydney facility. The licenses will expire on 31 October 2021.

Late last year, ILGA agreed to work with Crown Resorts to enable the opening of accommodation, restaurants, bars and entertainment areas, said ILGA chair Philip Crawford.

There is, however, no change to the regulators position on Crown Sydneys gaming license, which was suspended in February following recommendations contained within the Bergin Report.

As reported by Inside Asian Gaming, the ILGA has been involved in ongoing discussions with Crown regarding key changes it is required to make to its corporate governance structures including a comprehensive boardroom makeover now well underway.

Crawford said that while Crowns interim liquor licenses have now been extended, the ILGA is still considering and assessing the companys responses to the issues arising from the Bergin Report.

These issues are detailed and complex, and Crown is required to undertake significant change to satisfy the Authority that it is on a pathway to regain suitability to hold a gaming license, he said. It will take time for Crown to fully implement that change and for the Authority to give it proper consideration before determining the most appropriate course of action.

Crawford previously told IAG he expects Crowns efforts to reach suitability would take months, not years.

Some [analysts] were speculating that it might take eight months to two years, but certainly two years is ridiculous. If they cant get to suitability within 2 years then weve got a real problem, he said.

I would have thought the second half of this year at some stage is a realistic prospect as long as they can get their structures in place.