Former Crown Owner Criticizes Government for “Destroying” Casino Industry
James Packer’s Accusations
James Packer, the former Chairman and major shareholder of Crown Resorts, has sharply criticized Australian lawmakers and regulators. According to Packer, their recent policies and inquiries are making it nearly impossible for casinos to operate, effectively threatening the survival of the entire Australian casino industry.
“Lawmakers and regulators are trying to bankrupt the casino industry in Australia,” Packer stated in a recent interview.
He argued that excessive oversight and punitive regulations have already forced Crown to reduce its operations to an unsustainable level, discouraging further investment and innovation in the sector.
Regulatory Pressure and Consequences
In recent years, Crown Resorts faced multiple inquiries into alleged breaches of anti-money laundering and responsible gambling laws. These investigations led to heavy fines, license restrictions, and strict compliance conditions imposed by authorities across several states, including Victoria and New South Wales.
Packer suggested that the cumulative effect of these policies has gone beyond reform and has crossed into destruction, leaving the industry incapable of recovering.
“Australia used to have one of the most respected casino markets in the world. Now, it is being strangled by regulation,” he said.
Impact on the Broader Industry
Industry analysts warn that the regulatory tightening not only affects major operators like Crown and The Star but also has ripple effects on tourism, employment, and hospitality sectors. Reduced profits and investor confidence may push operators to re-evaluate their commitments in the Australian market.
Packer concluded by urging lawmakers to balance integrity reforms with business viability, arguing that an overregulated market benefits no one.
Author’s summary: James Packer accused Australian lawmakers of overregulating casinos, warning that excessive scrutiny risks collapsing the nation’s gaming and tourism industries.
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