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Crown Casino has been instructed by VGCCC to implement spending limits and identity verification measure

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The Victorian gambling regulator, VGCCC, directed Crown Casino in Melbourne on May 4th to ensure that all electronic gaming machines in Victoria have visible play and expenditure limits.

This directive must be implemented by December 2023.

As an anti-money laundering measure, every electronic gaming machine at Crown Casino will now be linked to a patron’s gaming card, thereby tying their identity to each game they play, as ordered by the VGCCC. Prior to commencing play, patrons must also commit to a spending limit and a specified time limit on the machine.

The VGCCC has commended the casino for agreeing to remove unlimited gaming machines from public areas and discontinue machines that allow continuous play while restricting credits to $1000 per machine. Commission President Fran Thorn stated that the measures’ implementation would be closely monitored.

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Crown Melbourne CEO Mike Volkert claimed that these changes would significantly enhance the company’s ability to prevent and reduce gambling harm, which is a critical component of Crown’s goal to be a world leader in safe and responsible gambling and entertainment.

This order follows a $30 million fine levied against the casino a week earlier for allowing gamblers to deposit self-issued bank checks, in violation of problem gambling and money laundering controls. Furthermore, in 2022, the casino was fined a total of $200 million for breaching its responsible gambling services standards and allowing players to use their credit cards to access funds illegally.

Crown Limited owns the massive Crown Casino and Entertainment Complex, situated on the southern bank of the Yarra River in Melbourne, Australia. The temporary casino first opened in 1994, followed by the full-service casino and resort in 1997. The casino floor itself encompasses roughly 220,000 square feet, while the entire complex spans 510,000 square meters, making it the biggest casino complex in the Southern Hemisphere and one of the largest gambling entertainment complexes globally.

Guests can choose from three hotels on the property that offer a combined total of over 1,600 guest rooms, suites, and villas. The complex features 37 restaurants, comprising 12 premium establishments, 15 casual dining options, and a food court with ten vendors.

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Numerous other facilities and amenities are available, such as the Crown Conference Centre at the Crown Promenade Hotel, multiple swimming pools, two spas, several live entertainment venues, including The Palms at Crown concert hall, numerous lobby lounges, three nightclubs, and 15 bars. Additionally, there are 13 cinema theaters, a King Pin bowling center, an interactive game arcade, and a retail shopping center. Children under the age of 18 are permitted in the entertainment and shopping areas.

Jerome, a valuable addition to the Gamingo.News team, brings with him extensive journalistic experience in the iGaming sector. His interest in the industry was sparked during his college years when he participated in local poker tournaments, eventually leading to his exposure to the burgeoning world of online poker and casino rooms. Jerome now utilizes his accumulated knowledge to fuel his passion for journalism, providing the team with the latest online scoops.

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FDJ’s Acquisition of Kindred Group Shaping the Future of Global Gaming

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FDJ’s acquisition of Kindred Group, facilitated by regulatory approval and strategic shareholder engagement, signifies a transformative moment in the gaming industry. This deal exemplifies the intricate balance between regulatory compliance, shareholder value, and strategic growth ambitions. As the industry stands at the cusp of further consolidation and innovation, the FDJ-Kindred transaction heralds a new era of strategic realignment and competitive positioning in the global gaming landscape.


A Monumental Shift in Gaming Dynamics

The Swedish Financial Market Supervisory Authority (SFSA)‘s approval of Française des Jeux’s (FDJ) offer to acquire Kindred Group marks a pivotal moment in the global gaming and betting sector. This green light not only accelerates FDJ’s strategic expansion but also underscores the evolving landscape of international gaming regulations and corporate alignments.

Navigating Regulatory Waters

The SFSA’s endorsement is a crucial step in FDJ’s ambitious acquisition plan, setting the stage for a public offer slated to commence imminently. This regulatory approval highlights the meticulous scrutiny and compliance standards governing mergers and acquisitions within the sector, ensuring that such transactions align with market stability and shareholder interests.

A Call to Action for Kindred Shareholders

The forthcoming Extraordinary General Meeting (EGM) represents a critical juncture for Kindred Group, with proposed statutory amendments necessary for facilitating the acquisition. This meeting, aimed at achieving the requisite shareholder consensus, signals the importance of shareholder engagement in steering corporate direction and strategy.

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The Path to Acquisition: Shareholder Conviction and Strategic Vision

FDJ’s pursuit of Kindred Group, contingent upon securing 90% of total capital, reflects a strategic maneuver to consolidate its position in the global gaming market. The offer per share, valuing Kindred at approximately €2.6 billion, has garnered unanimous board endorsement and significant shareholder backing, illustrating the alignment of strategic interests and the perceived value of this consolidation.

Activist Influence and Strategic Realignment

The role of activist shareholders, notably Corvex Management, in advocating for Kindred’s sale underscores the dynamic interplay between corporate governance and shareholder activism. Their successful campaign for board representation and strategic evaluation reflects a broader trend of active investor engagement in shaping corporate trajectories.

Implications for the Global Gaming Industry

This acquisition not only exemplifies the financial and strategic considerations underpinning such deals but also highlights the regulatory complexities and shareholder dynamics involved. As the gaming industry continues to evolve, driven by technological advancements and regulatory changes, the FDJ-Kindred merger serves as a case study in strategic growth, market consolidation, and the pursuit of competitive advantage.

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