Crown Resorts is anticipating harsh penalties in the wake of investigations into its misconduct, with $412 million set aside for possible fines.
Crown Resorts has registered an AU$945.4 million ($632.18 million) loss for its financial year (until June), mostly due to the company preparing some AU$617 million ($412.58 million) in preparation for expected fines due to the numerous inquiries into its casino operations.
Canada's Alexander Puchalski becomes the first player in Asia Pacific Poker Tour history to boast the prestigious honour of lifting the PokerStars golden shard trophy in the South East Asian Kingdom after winning the PokerStars LIVE APPT Cambodia Main Event.
The Victorian gambling watchdog has slammed Crown Resorts with two fines totaling $77.75 million, in what it calls a 'warning' to the gambling industry over misconduct.
Crown Resorts has been fined AU$120 million ($77.75 million) by the Victorian Gambling and Casino Control Commission (VGCCC) in two fines due to ‘failing its Responsible Service of Gambling obligations’.
Crown Melbourne sets compulsory KYC, time, and money, limits for gaming activities following new legislation passed by the Victorian Parliament on Tuesday. Punters are not allowed to spend more than A$1,000 and will have to submit proof of their identity.
Ex Wynn Macau head and newly appointed CEO at Crown Resorts, Ciarán Carruthers, told Australia media the company will not be banking either on the junkets or on the high-end Mainland tourists for its casino business.
Macau's very own Ciarán Carruthers addressed Crown's thousands of employees across Australia as the company's new CEO.