Legal
February 9, 2021
Crown Resorts Found Unsuitable to Hold NSW Casino License
Crown Resorts were dealt a significant blow to their business plans after the final report from the New South Wales (NSW) inquiry found the casino operator unsuitable to hold a casino license for its new AU$2.2 billion resort in Barangaroo near Sydney. Unsuitable for Casino License The damning verdict of the report submitted Tuesday afternoon […]
Casino
January 3, 2021
Packer Allegedly Meets with Adelson, Fuels Crown Sale Rumor
An encounter in the French Caribbean further fueled speculation Crown Resorts’ major shareholder James Packer is looking for the way out of the company, seeking to cash in on his 36% stake in the casino and hospitality operator. Multi-Million Yachts Docked Beside Each Other James Packer celebrated New Year’s Eve on board of his $200 […]
Casino
January 2, 2021
China Decided Crown Sydney’s Fate Ahead of License Decision
Long-awaited opening of Crown Resorts’ new AU$2.2 billion casino resort in Barangaroo near Sydney happened Monday, but casino operations did not commence as the Independent Liquor and Gaming Authority (ILGA) blocked the ASX-listed company from opening its casino until a final decision regarding its casino license is reached. ILGA Final Decision Pending Following on Crown’s […]
Casino
December 28, 2020
Crown Resorts Introduces New Transfer Funds Requirements
Crown Resorts is desperately seeking to improve its compliance ahead of an urgent review of its casino license in Victoria by the state government. The casino operator announced new requirements related to transfers of money to its properties in Melbourne and Perth. Money Transfers Only from Personal Bank Accounts According to the new measure aimed […]
Casino
December 28, 2020
Crown Resorts Sydney Hotel Opens Doors, Casino Stays Shut
The newest Crown Resorts property in Sydney, Australia, opened its doors today. Although visitors can enjoy the hotel, multiple restaurants and bars, the property’s casino remains closed for the moment. Crown’s Property in Sydney Opens Doors without Its Casino Crown Resorts’ newest venue located in Sydney, Australia opened its doors for visitors today. Although the […]
Casino
December 16, 2020
Crown Sydney Non-Gaming Allowed to Open December 28
Crown Resorts was allowed to open its new AU$2.2 billion casino resort in Barangaroo near Sydney, albeit for its non-gaming operations, after the gaming regulator in New South Wales (NSW) issued an interim liquor license for the property. The Independent Liquor and Gaming Authority (ILGA) granted a license for the Crown Sydney hotel, bars and […]
Casino
December 14, 2020
AUSTRAC Identified Serious Risks Related to Junket Operations
Australian financial crime watchdog AUSTRAC uncovered a number of criminal activities related to casino junket operators which are being targeted by organized crime and foreign spies to facilitate dirty cash flows through the casinos, as well as make political donations. “Some junket tour operations have been exploited, and in some instances infiltrated, by serious and […]
Legal
December 14, 2020
Crown Faces Class Action Lawsuit Requesting Share Buyback
Australian casino operator Crown Resorts is in all sorts of trouble recently, the latest being a class action lawsuit, a local media reports. Maurice Blackburn Lawyers filed a new class action against the gambling company alleging its failures in corporate governance and risk management caused damage to investors as the share price sank more than […]
Legal
December 7, 2020
AUSTRAC Says Casinos Responsible for Overseeing Junket Operators
AUSTRAC’s CEO, Nicole Rose, has said that the regulatory onus is on individual casinos to ensure that junket operators do not pose risk to AML compliance. Australian Financial Fraud Squad Says Casinos Must Regulate Junkets ‘Do not pass business responsibility onto regulators,’ this is the unambiguous message Nicole Rose, head of Australia’s financial fraud squad […]
Legal
November 20, 2020
Crown Proposes “Working Test” Instead of Casino Opening Delay
Crown is desperate to salvage the opening of its AU$2.2 billion casino in Barangaroo near Sydney after the New South Wales (NSW) regulator asked the operator to delay the casino opening until the final inquiry report is submitted. Working Test to Save the Day In a last ditch attempt, Crown proposed to open the casino […]