Published
CasinoLegal & Regulatory

Crown Resorts says "sub-lease would not be in the public's interest"

Troubled Australian casino operator Crown Resorts has now filled all closing submissions with the Victorian Royal Commission, including a further submission dated 9 August 2021; related to inquiries by Commissioner Ray Finkelstein around which areas of the Crown Melbourne complex may need to be sub-let if the casino license was cancelled.

crownresorts

Crown has confirmed a requirement under its Casino Management Agreement to sub-lease its Melbourne casino complex to a new casino if its licence is revoked.

The company argues this would also have the potential to trigger events of default.

In the casino's submissions, Crown has confirmed that, as per its Casino Management Agreement, the state may require Crown to grant a sub-lease of the “Melbourne Casino” to any new casino operator.

This refers to “those areas of the Melbourne Casino Complex which constitute a casino and includes the areas in which money counting, surveillance, storage and other activities related to the conduct and playing of games are carried on,” it says.

Crown argues “cancellation of the licence followed by a requirement to sub-lease would not be in the public interest, for the reasons referred to in Crown’s Closing Submissions, and would also have the very real potential to trigger events of default under Crown’s debt facilities.”

The Victorian Royal Commission is expected to report its findings and any recommendations by 15 October 2021.

Elsewhere, a gambling addict who was asked to be banned from Melbourne’s Crown Casino due to extensive debt is now suing the casino for more than AU$4.5m (US$3.30m), after the Crown continued to encourage betting.


Casino News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Executive Profiles
MGM Resorts Japan
BetConstruct
Hann Casino Resort
Bloomberry Resorts Corporation
Sightline Payments

Global Gaming Awards Asia: What to expect in 2023

Gambling Insider looks ahead to the Global Gaming Awards Asi...

The power of the rebrand

With the help of industry experts, Gambling Insider Editor T...

Evolution Europe CEO Gionata La Torre: The Italian job

Evolution Group’s new CEO Europe, sits down with Gambling...

Big Question: How can slots innovate from here?

Simon Hammon, CEO of Relax Gaming, Erkki Nikunen, Partner &...

Read Magazine