Melbourne based Crown Casino Resorts seems to have entered a deepened regulatory trouble as Victorian Commission for Gambling and Liquor Regulation (VCGLR) has threatened a disciplinary proceeding against the casino.
The Indian Wire had earlier reported that Crown Casino Resorts has failed a money laundering probe and is facing further inquiry.
Crown’s former boss John Alexander had earlier asserted that the resort has received ‘gold star’ ratings from an independent Anti Money Laundering Expert. However, the AML expert Neil Jeans stated that he did not make any comment as to the gold star ratings of the Crown.
Jeans further stated that he had only worked upon theoretical structure of the AML requirements and had ascertained whether Crown’s design and structure complies with Australia’s Anti Money Laundering laws.
According to Jeans, he had found the Crown group’s structure to be in compliance with the Australia laws and had mentioned the rooms for improvements. He did not, he stated, make any comment as to the gold star ratings nor did he review whether the compliance system works in practice.
Now, the VCGLR has issued a notice to the casino to ‘show cause why disciplinary action should not be taken for failing to ensure that controls regarding junket participants were implemented’ at the company’s Crown Melbourne casino.
VCGLR awaits the casino’s response before taking further action. The Commission might impose a fine or issue a censure or ask the company to amend its wicked ways.
The inquiry had revealed admission on part of James Packer, who is company’s largest shareholder that the company has failed in various anti-money laundering compliances while dealing with high-rolling gamblers and the junket operators who ferry those VIPs to Crown’s casinos, reported CalvinAyre.
Interestingly, the Crown plans to open its new property in December this year, way ahead of its originally planned schedule.