Crown Resorts, one of Australia’s largest casino operators, has been fined AU$20 million by the Victoria Gambling and Casino Control Commission for tax breaches. The fine comes after an investigation into Crown’s use of junket operators, who bring wealthy gamblers to the casino from overseas.
The investigation found that Crown had failed to properly vet the junket operators, who were found to have links to organized crime and money laundering. This allowed them to bring in large amounts of cash without proper scrutiny, which is a breach of anti-money laundering laws.
In addition to the fine, Crown has also been ordered to implement a number of changes to its operations, including increased oversight of junket operators and improved anti-money laundering measures. The company has also agreed to cooperate with the commission’s ongoing investigation into its operations.
The fine is a significant blow to Crown Resorts, which has been struggling in recent years due to a decline in revenue from its casinos. The company has also faced criticism over its treatment of staff and allegations of links to organized crime.
The Victoria Gambling and Casino Control Commission has said that the fine sends a clear message to the industry that it will not tolerate breaches of anti-money laundering laws. The commission has also called on other casino operators to review their own operations and ensure they are complying with the law.
The fine is just the latest in a series of setbacks for Crown Resorts, which has faced a number of legal and regulatory challenges in recent years. The company is currently facing a class action lawsuit from shareholders over allegations that it misled investors about its compliance with anti-money laundering laws.
Despite these challenges, Crown Resorts remains one of Australia’s largest casino operators, with properties in Melbourne, Perth, and Sydney. The company has said that it will work to address the issues raised by the commission and improve its operations going forward.
