Despite opening its massive Barangaroo resort in December 2020, it has been unable to operate its gaming rooms after an inquiry led by former Supreme Court judge Patricia Bergin found evidence the company had allowed money laundering to occur at its Melbourne and Perth casinos.

The inquiry also unearthed evidence of serious governance issues due to the actions of some former directors, with Ms Bergin ultimately concluding the gaming giant was unsuitable to hold a license.

Following the ruling, Crown negotiated a path to obtaining a license with the regulator and, in June 2022, NICC granted provisional permission for the resort’s casino to open under the watch of a special monitor in the form of Kroll consultancy’s Gary Gill.

That license was due to expire in December, but was extended to April 2023 while Crown, newly under the ownership of private equity giant Blackstone, continued to enact cultural reforms to demonstrate it was worthy of operating without restrictions.

Last month, regulators in Victoria handed Crown an unrestricted license to operate its Melbourne casino, foreshadowing Tuesday’s announcement in Sydney, although the company acknowledged in a statement it still had further work to do in Perth.

In giving the gaming giant an unrestricted license for Sydney, NICC chief commissioner Philip Crawford said it was his belief the company now “understands the responsibilities” inherent in operating a casino, although he cautioned the regulator was determined to prevent future instances similar to that which emerged in 2021.

“Crown Sydney is a vastly different business to the one, which was examined in the Bergin inquiry,” he said.

“Today, Crown is one that understands the responsibilities of holding a casino licence both as to corporate governance and as to an ability to work alongside the regulator, in discharging its legal and social obligations.

“In making this decision today, the NICC is mindful of the dark places this company was in only a few years ago.

“The NICC is determined this shall not be allowed to happen again.”

Explaining his decision, Mr Crawford also praised Crown for recognising “the need to change its culture,” acknowledging it had “cleaned out” its board by removing those who had presided over prior issues of governance.

He added it was also pleasing the gaming giant had embraced “concepts of sustainability and responsible gambling”.

In a statement responding to the announcement, Crown Sydney CEO Mark McWhinnie thanked the regulator for working with the company to implement reform, while noting there was still further work to be done to meet community expectations.

“Since opening the Crown Sydney casino in August 2022, we have worked tirelessly to implement wholesale reform across our business, delivering 432 remediation activities to the NICC across key areas, including harm minimisation, financial crime, compliance, risk, and culture,” he said.

“The NICC’s decision today recognises the genuine and sustainable changes we’ve made and our ongoing commitment to operating at the highest industry standards. I would like to thank the NICC, led by Chief Commissioner, Philip Crawford, for his continued leadership, professional engagement and commitment to regulatory reform.

“Today’s outcome would not be possible without the unwavering hard work and dedication of our team and while we take a moment to recognise this milestone today, we know that the work doesn’t stop here. Our transformation has laid the pathway for the future so we can exceed the expectations of our guests, team members, stakeholders and the community.”

Crown added it had spent $200 million in a comprehensive transformation of its business, with a clear focus on harm minimisation, financial crime, governance, compliance and risk.

The company said it was also continuing to work on reforms for its Perth casino through the implementation of its remediation plan, with a report due to be submitted to the Perth Independent Monitor by the end of January 2025.