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Crown Resorts in Australia Will Face Disciplinary Action

Charlie Brooks

Apr 06, 2022 09:50

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Crown stated in a statement on Wednesday that it would cooperate completely with the VGCCC on the findings of the royal commission report.


Crown's shares fell 0.5 percent in early trade.


According to the Royal Commission into Casino Operators and Licensing (RCCOL), the China Union Pay process involved the use of the China Union Pay bank card from 2012 to 2016 to "allow international patrons to access funds in order to gamble at Crown Melbourne," circumventing Chinese currency restrictions.


The RCCOL discovered that "Chinese clients were aided in moving up to A$160 million in money unlawfully."


"As a starting step, we are acting on the Royal Commission's conclusions that Crown's China Union Pay scheme violated critical Victorian regulatory requirements, was unlawful, and represented significant misconduct," VGCCC Chair Fran Thorn stated, indicating that more action would follow.


Crown was found ineligible to maintain a gaming license in Melbourne in October, but was permitted to operate its highest-earning casino under monitoring.


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