Billionaire James Packer’s Crown Keeps Melbourne Casino License As Regulator Oversees Reforms

Australian regulators are allowing Crown Resorts—controlled by billionaire James Packer—to keep its license to operate its flagship Melbourne casino under the supervision of a government-appointed special manager who will ensure reforms are undertaken to address money laundering risks at the casino.

While an independent inquiry by Victoria’s Royal Commission found Crown unsuitable to hold a casino license, the government decided to allow Crown to operate under the oversight and direction of a special manager for two years while the company implements comprehensive reforms, the government said in a statement on Tuesday.

“The special manager will have unprecedented powers to oversee Crown, veto decisions of the board, and have unfettered access to all areas of the casino and its books…