Crown Casino Chinese New Year 2018

Crown Resorts' full year net profit has dropped 70 percent to $558.9 million after the gambling giant's results normalised following the sale of its Macau business the previous financial year.

Crown didn’t become aware of the blue cooler bag footage until it was leaked in October-2018. But the inquiry heard the casino’s anti-money laundering compliance officer concluded it was. Crown's new casino at Barangaroo is set to open at the end of the year.(ABC News: James Carmody)Mr Packer also told the inquiry he was not aware Crown staff in China were living in fear while.

Despite the fall, the resort operator posted a 12.7 percent rise in normalised profit – which excludes win rates made by gamblers – to $385.6 million.

Crown’s results cap a turbulent year for the gambling giant, which included the departure of board member James Packer, a $300,000 fine for pokie tampering and the freeing of 19 staff detained in China as part of a gambling crackdown.

READ MORE: World's top 10 richest tech billionaires

READ MORE: Australia's richest tradies revealed

(The exterior of the Crown Casino, located on Southbank, in Melbourne, Friday, August 4, 2017. (AAP Image/James Ross))

Crown, which owns casinos in Melbourne, Perth and soon-to-be-completed Sydney, reported a 5.4 percent increase in operating revenue to $3.4 billion.

In its Australian resorts, Crown's high-roller VIP program soared by 54.5 percent to register a turnover of $51.5 billion, while on the main gambling floor revenue inched upwards 1.5 percent to $1.68 billion.

John Alexander, Executive Chairman of Crown, said the performance of Crown Melbourne was particularly pleasing.

'Crown's full-year result reflects a solid performance from our Melbourne operation and continued subdued trading in Perth,' said Alexander.

'VIP program play turnover in Australia of $51.5 billion (up 54.5 percent) was a pleasing outcome, particularly at Crown Melbourne (up 73.9 percent), given the difficult trading conditions.'

In a letter to shareholders, Crown said its long-awaited six-star Crown Sydney resort at Barangaroo was on schedule to be completed in three years' time.

'The project remains on schedule for completion in the first half of calendar year 2021 and the total gross project cost is expected to be approximately $2.2 billion, with a net project cost of approximately $1.4 billion,' the letter read.

(James Packer stepped down from the Crown Resorts board in March this year. Image: AAP)

Crown Resorts also announced that it would commence proceedings against the Barangaroo Delivery Authority (BDA) in the Supreme Court, over plans BDA had to build a structure that would effectively negate the Sydney Harbour views of Crown Sydney's hotel rooms.

Despite its share price rising 19.4 percent over the last year, Crown Resorts has endured a series of reputation-denting headlines.

In October last year, Crown shareholders gathered at the AGM to discuss accusations made by MP Andrew Wilkie that Crown Melbourne staff were tampering with poker machine chips to allow players to spin without touching the buttons.

In March, Crown Resorts' highest-profile director James Packer stepped down from the board to deal with mental health issues.

In April this year, the Victorian gaming regulator fined Crown $300,000 over the practice of pokie tampering.

Crown declared a final dividend of 30 cents a share, with a total full-year dividend of 60 cents per share, franked at 60 percent.

The Victorian Government is preparing to crack down on Crown Casino, with a special commissioner to be appointed to scrutinise the company's suitability to hold a licence in the wake of a series of allegations against and damning admissions from the gambling giant.

The next review of the Crown Casino's licence, which is conducted every five years, will be brought forward as part of the special commissioner's work.

It follows a concession from Crown to a New South Wales inquiry last month that some of its accounts have likely been used for money laundering.

Crown Casino Chinese New Year 2018 Events

The last licence review was completed in 2018.

Premier Daniel Andrews this morning dismissed criticism that the decision to appoint a sessional commissioner was a reflection on the track record of the Victorian Commission for Gambling and Liquor Regulation (VCGLR).

'It shouldn't be read down to be a criticism of the VCGLR, it's a dedicated and, if you like, bespoke piece of work. You need to know this industry in order to work out if those operating in it are fit and proper people,' Mr Andrews said.

Crown Casino Chinese New Year 2018 Year

In a statement to the stock exchange, Crown Resorts said it had 'actively engaged with the VCGLR in relation to the matters the subject of the ILGA Inquiry (in NSW), including on Crown's reform agenda'.

'Crown will continue to work cooperatively with the VCGLR to support this review.'

NSW has delayed granting Crown a licence for its new Sydney high-rollers casino at Barangaroo in the wake of the inquiry recommending the company is not fit to hold a licence.

That inquiry is due to hand down its findings in February.

However Victorian Gaming Minister Melissa Horne said there was a need for an immediate response in Victoria given 'concerning evidence' presented to the NSW investigation.

'This review is needed given the evidence we've seen come out of the NSW inquiry,' she said.

'While we await the findings of that investigation, it's appropriate to bring forward the next review to ensure Crown Melbourne is suitable to hold a licence in Victoria.'

The review will report back to Ms Horne next year.

The Victorians Green have called for the casino to have its licence suspended immediately while the review is carried out.

'The Greens have repeatedly called on the State Government to curb Crown's unacceptable behaviour, but sadly it has taken a NSW inquiry to spur them to act,' party leader Samantha Ratnam said.

'Given the damning evidence coming out of the inquiry — including bags of cash under desks, tampering with poker machine controls and money laundering — Crown shouldn't be allowed to retain its Victorian licence while this investigation takes place.'

Crown criticised over junkets, fined over poker machine buttons

Crown has been the subject of a series of allegations of improper conduct in recent years, including those aired on the ABC. They have included allegations about tampering with buttons on Crown's poker machines for which the company was fined $300,000.

Whistleblowers have previously raised concerns about money laundering and a failure of the Victorian regulator to do its job.

The Nine newspapers and 60 Minutes also featured a series of stories about organised crime links to lucrative foreign junket operators and issues around money laundering.

Up until now, the Andrews Government has backed the gambling regulator to keep checks on the casino despite widespread criticism the commission is toothless.

The VCGLR has been investigating the casino and the nation's anti-money laundering watchdog is also looking at the casino.

The revelations in the NSW inquiry placed major pressure on the Victorian Government and the VCGLR to take the allegations seriously.

A commissioner has yet to be appointed.