Crown Resorts Under Investigation
Crown Perth Casino is one of Australia’s leading land-based casinos. It has managed to attract millions of patrons over the years and has earned its reputation.
However, all this seems like it will be soon be flushed down the drain as the casino is under investigation for charges of money laundering.
Although the casino is still under investigation under the charges there are rumors that the casino might lose its gaming license.
The Charges Against Crown Resorts
Crown Resorts facing charges of money laundering within its Perth as well as Melbourne venues. These charges were made in a report to the state parliament by the New South Wales Independent and Gaming (ILGA). The report stated that arrogance was one of the main reasons why the casino had turned a blind eye to the money laundering that was happening in the venues mentioned above.
The ILGA report further noted, through its findings that the casinos were no longer suitable holders of the gaming license and recommend that the casino gaming of the resort be revoked.
The money laundering came to light in 2019 when the media reported that the Crown resorts had facilitated money laundering at its Melbourne and Perth resorts. The money laundering was through Asian high roller junkets and due to this, Crown’s reputation was put on the line, and the fact of having a casino license was put in question.
Commissioner Patricia Bergin’s findings showed that there was a serious significant deficiency in the cooperate culture of Crown. The findings also showed that the Resort showed a lack of understanding in the compliance of the countries anti-money laundering and counterterrorism financing laws (AML/ CTF).
Future of Crown Resorts
The future of Crown Resorts is still yet to be decided as there is still a lot to be handled. The NSW Customer Service Minister Victor Dominello noted that he would consider the recommendation before giving a formal response.
He noted that at the heart of the report there a lot of concern on gambling, organized crime, and money laundering, also before giving a formal response, he would have to see what the community, as well as the nation at large, will be able to do to protect themselves against such behaviors in the future.
However, there are several other parties that are in total agreement with Commissioner Bergin’s findings and agree that Crown is no longer suitable to hold a gaming license. Commissions of inquiry may have to be set in place to find out the truth behind the matter.
Meanwhile, Crown Resorts has announced the closure of Crown Perth in line with new covid-19 restrictions set in place by the Western Australian Government. The government had called on a 5-day lockdown that was then extended. In line with this call, Crown Perth has pushed its opening o the casino until the 14th of February.
Crown Resorts now stands at the brink of losing its gaming license which may then lead to the closure of the Perth and Melbourne casinos for a while. In the meantime, the business had been laid back due to the covid-19 restrictions.