Crown Fined Millions & Star Entertainment Told Does Not Deserve License
Australian land based gaming’s reputation is in tatters after months of enquiries finding both of the countries largest casino operators failing in money laundering, organised crime and corporate governance.
The latest is that Crown Resorts has been fined A$80 million (£45.6 million) for illegally accepting bank cards in China to use in gambling.
Crown’s Melbourne casino processed some A$164 million in transactions for the Chinese UnionPay card and put the use down to “hotel services2 when really they were used for gambling by Chinese gamblers between 2012 and 2016.
On Monday the Victorian Gambling and Casino Control Commission (VGCCC) said the casino operator had purposely drawn funds from the card knowing it would breach regulations on withdrawing funds on credit cards.
The company accepted the finding and said they were in the process of corrected the error and would never happen again.
While Crown Resorts were hit with the massive fine their major competitor Star Casino were still involved in their own enquiry where the authority regulating gambling The NSW Independent Liquor & Gaming Authority and its lawyer said in the closing remarks of the enquiry, “We submit that the evidence in the public hearing establishes that The Star is not suitable to hold the casino licence and that its close associate Star Entertainment is not suitable either,” she went on to say, “The casino licence is a privilege. And it is a privilege, which confers upon the holder of that licence an ability to earn very substantial revenues”.
