John Borghetti as the chair of Crown Resorts
With effect from July 1st, John Borghetti Ao has been appointed as the new Chair by Crown Resorts, the largest gambling operator in Australia.In a June 4th announcement,...
Crown’s Melbourne Casino to keep its license, in spite of money laundering claims
Crown Resorts has been permitted to keep its certificate for the Melbourne Casino, in spite of the fact that the casino’s operations have been called out for dishonesty.
Australia’s biggest casino & entertainment group – Crown Resorts Limited, has been permitted to continue operating its Melbourne casino despite its operations having been called out for illegal activities such as money laundering, dishonesty, unethical and exploitive nature by the royal commission.
According to a report yesterday by Ray Finkelstein, there were a number of failings on Crown Resorts’ part, in regards to illegal money laundering practices-related regulations, concluding that the group ‘facilitated’ money laundering via a bank account held by its subsidiary.
However, instead of stripping the Australian casino from its licensing, the royal commission advised to appoint a special manager in order to oversee the operations of the Melbourne casino for the next two years.
The Victorian board granted the suggestion, which states that the license would be revoked except if Crown could persuade the gambling authority that it has undergone significant reforms until then.
Finkelstein’s proposals to drastically enhance the maximum fines for violations of casino laws from the present $1 million have been adopted by the state government. The commissioner suggested $10 million, but the administration announced the amount will be increased to $100 million.
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Crown Resorts cutting 1,000 jobs due to economic challenges
Crown Resorts is cutting up to a thousand positions across its locations in Perth, Sydney, and Melbourne. This choice was made in reaction to the difficult economic...
