24.2 C
Accra
Sunday, August 3, 2025
WorldCrown Resorts: Casino firm fined over illegal China dealings

Date:

Crown Resorts: Casino firm fined over illegal China dealings

Australian gaming operator Crown Resorts has been fined A$80m ($57.4m; £45.6m) for illegally accepting Chinese bank cards at its casino in Melbourne.

Regulators say the transactions were falsely classified as hotel services.

To deter money laundering and excessive gambling casinos in Australia are not allowed to accept bank cards.

Crown acknowledged its “historic failings” and says its top executives were in the process of reforming how the company operates.

On Monday, the Victorian Gambling and Casino Control Commission (VGCCC) said Crown had breached Australia’s casino regulations by allowing gambling funds to be withdrawn using credit or debit cards.

The regulator found that Crown had processed A$164m Australian dollars in China UnionPay card payments, drawing in A$32m of revenue in the process, between 2012 and 2016.

It said the transactions were falsely classified as “services” provided by the Crown Towers hotel in Melbourne.
However, patrons were given vouchers that could be exchanged for cash or chips at Crown’s neighbouring casino.

According to the regulator, the “clandestine” scheme also allowed some Chinese nationals to spend more in foreign currencies than was allowed under Chinese law.

“Crown benefited handsomely from its illegal conduct,” VGCCC chairwoman Fran Thorn said in a statement.

“The fine will ensure that Crown is stripped of the revenue it derived from the process and will send a clear message that it must comply with its regulatory obligations,” Ms Thorn added.

In response, the gaming group said its board and senior management were “committed to the delivery of a comprehensive reform and remediation programme to ensure Crown delivers a safe and responsible gaming environment”.

Crown – which operates integrated resorts in Melbourne, Perth and Sydney – is also under scrutiny from regulators who have alleged the company had knowingly dealt with criminal organisations then misled authorities about those dealings.

Its casino in Melbourne is currently only allowed to operate under the supervision of a government-appointed manager.

Source: BBC

[forminator_poll id="710479"]

Latest stories

“Don’t make me and Stonebwoy fight ooo”- Samini warn netizens

Veteran dancehall musician, Samini has warned netizens to resist...

Kanye West’s Heil Hitler song bans him from entering Australia

US rapper Kanye West has been banned from entering...

Agradaa describes moment shared with President Mahama heavenly – Agradaa

Evangelist Patricia Asiedua, popularly known as Agradaa, shared a...

Dada Joe Remix extradited to face romance scam charges in USA

Ghana’s nightlife mogul and alleged crypto kingpin, Nana Kojo...

Govt launches 24-Hour Economy policy today

The government's flagship, 24-Hour Economy Policy, will be launched...

GRA sets July 16 for GHS1 fuel levy implementation

The implementation of the new GHS1 Energy Sector Shortfall...

Related stories

US travel ban against Togo, Libya, others takes effect today

Effective today, Monday, June 9, nationals of twelve countries...

Pakistan: Police in search of over 200 inmates following earth tremor

Over 200 inmates are currently on the run after...

Pope Leo XIV shares canonical acceptance

Cardinal Robert Francis Prevost has officially accepted his election...

Profile of the new Pope – Cardinal Robert Francis Prevost

"Peace be with all of you!" - the first...

Cardinal Robert Francis Prevost named as the 267th Pope, takes the name Pope Leo XIV

Cardinal Robert Francis Prevost has been elected as the...

Black smoke signals end of first day of conclave to elect new pope

A thick column of black smoke rising from the...

Siemens exec and his family involved in fatal Hudson helicopter crash

Tragedy struck New York City on Thursday when a...