A report was found on Crown Resorts, a casino operator who indulged in illegal activities

Texas News Today

SYDNEY – Chinese high rollers arriving in Melbourne in mid-2010 to circumvent Chinese rules regarding international remittances had playbooks they could follow.

According to a report commissioned by Australia’s Victoria State Government, he visited a hotel operated by casino operator Crown Resorts Ltd and forced Crown to impose fake hotel rates on some credit and debit cards, followed by Crown’s. You can deposit money at Melbourne Casino. State.

In another episode detailed in the report, Crown-held lawyers have put together a guide to comment on the adequacy of various marketing efforts in Asian countries where gambling advertising rules can be strict. Rice field. The document said the Crown was able to assess the likelihood that employees would be prosecuted for serious offenses and whether they were willing to take the risk.

Tuesday’s report concluded that Crown had engaged in illegal and fraudulent practices and was in principle unfit to hold a casino license. However, given that the closure of a casino in central Melbourne would have a negative impact on the economy and would not be in the best interest of the community, it did not recommend that the Crown be immediately deprived of its license.

Instead, in a report that provides a detailed view of the normally opaque internal mechanics of major casinos, Crown appears to be inspired and able to improve itself, with “special managers” running Crown’s casinos. Said to be appointed to look after it. Two years as the company changes.

The Crown said in a statement that it was considering the report and the government’s response and would work with the authorities.

The company has conducted a major review to address some of the issues in the report. This included suspending ties with Asian junket operators who brought high rollers to Australia, building up the compliance and financial crime sector, and introducing a number of changes to the board and senior management.

Crown has recently faced increased regulatory scrutiny following local media reports on some of its commerce. A similar study in New South Wales earlier this year found that the Crown was not fit to run a new casino off the Sydney coast without major improvements. The report found that the bank accounts of a Crown subsidiary were being used for money laundering and that Crown had been falsely linked to a junket operator.

It was also found that the Crown ignored the welfare of Chinese employees by pursuing profitable high rollers and eventually arrested Chinese Crown employees for gambling-related offences.

Melbourne Casino made a lot of money for Crown, and losing the license to operate it would have been a huge blow. Some analysts believed that the deprivation of the Crown’s license was unlikely, although the Victorian report attracted widespread attention as it could have set a precedent for other Australian regulators. I did Crown, which counts Australian billionaire James Packer as a major shareholder, is facing another study in Western Australia, which operates a casino in Perth.

Shares of Crown rose nearly 9% to A$10.50 in trading on Tuesday. That’s $7.88.

Victoria’s Minister of Consumer Affairs, Sport and Liquor Regulation Melissa Horn said the government would accept all of the findings in the report submitted by the Royal Commission. The government also said it would introduce a casino monitoring bill that goes beyond some of the report’s recommendations, including a clause that automatically revokes Crown’s casino licenses after a two-year special manager period if Regulators are not satisfied. I did Company’s progress.

Victoria’s Prime Minister Daniel Andrews said:

According to a Victorian report on Tuesday, many senior officials involved in illegal activity were indifferent to moral, ethical and sometimes legal obligations. The report showed that there was a consistent pattern of non-cooperation with state regulators, tax violations committed with the knowledge of several senior employees, and serious breaches of responsible gambling obligations.

Crown staff told the committee that customers can gamble for more than 16 hours at a time in the casino’s high-roller mahogany room.

According to the report, Crown shut down its credit and debit card programs in October 2016 after an employee was arrested in China. Local regulations generally prohibit casino operators from offering money or chips as part of transactions involving credit or debit cards, but credit is provided to non-Australian residents involved in junkets. There are some exceptions, eg. According to the report, the issue was referred to Australian financial crime regulator Austrac for further investigation.

The report also called legal advice outlining marketing risks in Asian countries the “most troublesome” document.

“This is a very useful guide if the Crown is interested in engaging its employees in illegal activities in these countries,” the report said. “The guide can also be interpreted as an incentive to perform prohibited acts,” it said.

write in Mike Cherney ([email protected])

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A report was found on Crown Resorts, a casino operator who indulged in illegal activities

Source link A report was found on Crown Resorts, a casino operator indulging in illegal activities

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