Crown Resorts Moves Spotlight Onto Local Regulator
Australia’s gambling industry looks set for further controversy as the royal commission enters the final stages of its probe into native gaming operator, Crown Resorts. The country has been subjected to significant drama in recent months, with multiple investigations conducted into the integrity of tis gambling industries.
The latest probe, which saw repeat offenders Crown Resorts under close inspection, has uncovered unacceptable practices being conducted by Western Australia’s local gaming regulator, the Gaming and Wagering Commission (GWC).
The royal commission, the body responsible for assessing the scale of Crown Resorts illicit activities, has suggested the GWC has been toothless in its regulation of the company’s pursuits. Despite mounting evidence to the contrary, the GWC dismissed allegations of money laundering, and were hoodwinked by a ‘persuasive’ internal company representative. Their ignorance was further compounded by the fact that Crown Resorts had been already accused, and investigated, of similar undesirable enterprises in other Aussie territories.
Both the GWC and Crown Resorts have accepted responsibility for the failures, with the latter initiating a recovery programme to address the significant issues in its operational practices. Despite this being implemented at substantial cost, market analysts remain sceptical about Crown’s integrity and remorse.
The raft of investigations conducted into the firm across Australia has already resulted in Crown Resorts losing their license in New South Wales, and receiving a probation order in Victoria. In recent weeks, the company has almost completely replaced its senior leadership team.
Formal findings from the royal commissions probe are expected next month, with Crown Resorts nervously awaiting news of further potential sanctions.
