SYDNEY, (Reuters) – Crown Resorts Ltd, an Australian casino operator, said Monday that it plans to open a Sydney gambling venue in early 2022. This is more than a year since it first opened. It works closely with a regulator, which aims at addressing governance problems.

After media reporting about its alleged involvement with organized crime, the Independent Liquor and Gaming Authority suspended its license for this casino. It was part of a complex of 75 floors that opened in December 2017.

Crown, which has undergone a major overhaul in its leadership and board structure, stated that it now targets a “gaming floor opening in the New Year” in comments accompanying an analyst presentation held at Sydney’s A$2.2 billion ($1.6 Billion) waterfront location.

Crown’s Sydney license is managed by the New South Wales Independent Liquor and Gaming Authority. The agency oversees Crown and said Crown has made significant progress in a number of governance reforms and that they were working towards opening a new gaming floor early next year.

In 2019, a series of media reports led to bruising public inquires that found Crown ineligible to be granted gambling licenses in Sydney or Melbourne. They also demanded radical changes in its culture and board. The third inquiry into Crown’s Perth casino is still in progress.

Crown stated that it has seen increased business at Crown’s sites in the last week, particularly over weekends. However, Crown noted that annual corporate costs are higher this year than they were last year, at A$130m ($93.1 million).

Steve McCann, the new CEO of the company stated that he believes the business is on the right track and has been substantially de-risked.

Crown denied a Blackstone Group buyout request (NYSE:) Inc. but did allow it to carry out due diligence. McCann declined to comment on discussions with Blackstone, but stated that Crown shareholders had “been through quite some” and should be rewarded accordingly.

Afternoon trading saw Crown shares rise 0.5% to A$11.51. This was consistent with the wider market, but less than Blackstone’s indicative bid price at A$12.50.

($1 = 1.3953 Australian dollars)