The Macau government has said that Suncity Holdings Chairman Alvin Chau is being investigated on suspicion of being in a criminal ring, running illegal gaming activities and money laundering.
Further damaging allegations about Crown Resorts' business practices are emerging from a Royal Commission inquiry in Victoria, which heard the company sat on recommendations to investigate money laundering for more than a year without acting.
Las Vegas Sands has set up a special committee to review AML controls at its Marina Bay Sands casino in Singapore and has hired U.S. law firm Vinson & Elkins LLP to assist.
Felix Ng -
An alleged international drug boss suspected of laundering millions of dollars through gaming giant Crown Resorts has been arrested in Thailand, where he is fighting efforts to be extradited to Australia.
After months of adamant denials, Crown Resorts unexpectedly admitted to New South Wales regulators late at night that its VIP services had indeed probably been used for money laundering. Coming after so many other damaging revelations about company management, the firm was forced to announce that its gaming facilities at Crown Sydney would not be opening as planned in December. Meanwhile, in Saipan, the CEO of Imperial Pacific International is now facing demands that he be put in jail due to the firm allegedly “growing comfortable” with defying court orders. We also take a closer look at how finance is increasingly seen as the best prospect for Macau diversification and, in our Nippon Weekly, we lay out what to expect next year in Yokohama’s IR development battle.
Crown Resorts will not be opening its A$2.2 billion Sydney casino in December and will need to wait until February before it hears whether it will retain its license, which was thrown into further doubt after a last-minute admission of money laundering.
The series of embarrassing revelations from a suitability probe in Sydney continue, with Crown Resorts Chair Helen Coonan admitting the company may have enable money laundering through "ineptitude."