Operators in the Australian gambling market have always been somewhat suspicious of the speed with which the Office of Liquor, Gaming and Regulation approved Crown Casino’s new license. Now, the regulator has been accused of favouritism, and the OLGR has recently issued a statement denying the charge.
The allegation of favouritism was brought about after industry experts compared the speedy process of the OGLR granting Crown Casino a new license to the delayed process of approving Genting’s increased stake in Echo Entertainment. Genting first applied to have its stake in the company increase from 10% to 20% in 2012, but the request has yet to be approved.
This harshly contrasts with Crown Casino requesting a license to operate a new Sydney casino earlier this year, and receiving the license a few months later. The OLGR denies the fact that it has exhibited favouritism towards Crown Casinos. The regulator claims that the application was granted quickly because Crown was prompt when it came to delivering the required documents.
The opposite was the case for Genting, as the OLGR says that the Hong Kong-based casino operator has be slow to provide the necessary paperwork. This has delayed the process for months, and it has nothing do to with any other issues. "When the investigation began more than two years ago, the authority made clear what documentation it required," said Chris Sodoti, OLGR Chairman.
"It has been in constant contact with GHK [Genting Hong Kong] since then and GHK is fully aware of these requirements, which remain unfulfilled."
Still, industry insiders are dubious about Crown Casino’s application process. The Independent Liquor and Gaming Authority states that it was one of the fastest turnarounds for a casino license, but it simply seems that the casino operator had all of its affairs in order to ensure that the process was quick and easy.