Recently, Ray Finkelstein, the former federal judge, heard statements from Michael Borsky QC, the Crown’s lawyer, as to why the company should be permitted to retain its license.
Crown had apologized for its wrongdoings in the recent inquiry and an earlier inquiry in NSW, including underpaid taxes in millions and failure to stop money laundering, rendering it unfit to hold a license. However, it had fully dedicated itself to making amends, according to Michael Borsky QC.
Finkelstein, on the other hand, was skeptical of Borsky, claiming that Borsky’s capacity to select a monitor who could supervise Crown’s casino activities was “risk-free” for the organization. Finkelstein also compared the situation to a car thief who asked to set him free on trust alone. He added that it wasn’t how the system worked and what the public expected.
Finkelstein said that since Crown Melbourne has always remained profitable or if the business was declining, their 12,500 employees would have moved, so they are not at risk. “If you have a profitable business, there will always be someone to intervene out in the world,” said Finkelstein.
Borsky added that Crown’s chief executive, Xavier Walsh, will resign on August 20, and the government officially stated that a new commission would be assigned for a casino regulatory department to review Crown Melbourne’s offenses.
Borsky stated that Xavier Walsh would help the company until the end of his appointment on December 9.
Since his appointment last December, Walsh has been with the organization for even less than one year. And the company said that it would appoint a new CEO of Crown Melbourne on a temporary role after the consultation with the Victorian commission.
Melissa Horne, the state’s gambling minister, said the legislation of separation of the VCGLR would be forwarded to the parliament before the end of 2021. And will also appoint a new commission to deal with the Crown. It would “hold the casino to account.”
Ms.Horne said that the merging of Gambling and liquor regulations was a failed attempt of the past, but the new body will “focus on minimizing damage.”
The commission stated that “it will continue to offer high-quality regulation without interrupting legislative activity of the gaming and liquor industry once the new regulator is established.”
Finkelstein will submit the Royal Commission’s final report on 15 October.