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Crown Resorts director Andrew Demetriou has claimed the company is ready to open and run its Sydney casino in defiance of the governance and probity questions raised at the NSW inquiry into the casino giant.
A second Australian regulator said it has begun disciplinary proceedings against casino giant Crown Resorts Ltd CWN.AX after media reports accused it of failing to vet foreign gamblers, a second watchdog to take action over the claims.
Testifying before an inquiry in Sydney, former Crown Resorts Chairman James Packer said the amount of profit generated by the company’s VIP business was not worth the risk posed to its employees.
Crown Resorts is unlikely to lose its license to run a new $2.2 billion property in Sydney following an inquiry into its suitability, J.P. Morgan says in a note.
James Packer insisted on selling a 19.9 percent stake in Crown Resorts to Melco Resorts & Entertainment, while the key executive negotiating the transaction gave “little thought” as to the potential impact on its Sydney license, an inquiry heard.
Senior executives from Crown Resorts, including CEO Ken Barton, answered questions this week at an inquiry into whether the company is suitable to hold a license in Sydney, revealing a “troubling” lack of awareness of company operations.
The 2018 outlook for Macau is positive, with gaming revenues likely to continue their recovery, though risks remain including the looming end of casino...
Money laundering comes a close second to gambling addiction when it comes to reasons for opposing casinos in Japan, with local media stoking fears that the country’s organized crime gangs plan on using IRs to legitimize the proceeds from crime. These opponents might be exaggerating the risks of money laundering at the anticipated Japanese IRs, but their concerns do not seem to be entirely misplaced. Japan is not necessarily on the cutting edge of Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) policies.
A former chair of the NSW Independent Liquor and Gaming Authority says Sydney’s Star Casino is at ‘major risk’ from organized crime after dramatic...