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Crown chair concedes ineptitude may have lead to 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."
AUSTRAC probe raises the stakes for Crown Resorts

AUSTRAC probe raises the stakes for Crown Resorts

What began with some bad news headlines, then developed into a special probity hearing in New South Wales, and has now become a full-scale governance crisis for Crown Resorts, with the newly announced Australian Transaction Reports and Analysis Centre (AUSTRAC) investigation posing a particular threat.

Crown shares plummet after news of AUSTRAC probe

Shares in casino operator Crown Resorts have plunged as much as 10 percent after the financial crimes regulator AUSTRAC launched an investigation into compliance with anti-money laundering and counterterrorism financing laws.
Crown Resorts heads toward contentious AGM

Crown Resorts heads toward contentious AGM

As the new week dawns, our attention remains focused on Crown Resorts, which holds its AGM after yet another week of devastating testimony at the NSW Independent Liquor and Gaming Authority (ILGA) probity inquiry.

AUSTRAC delivers notice to Crown Resorts on possible AML breaches

Australian Transaction Reports and Analysis Centre (AUSTRAC) has delivered formal notice to Crown Resorts that it has identified potential non-compliance at the firm with its responsibilities in relation to anti-money laundering rules.

Park to be built next to Crown Sydney won’t be ready until 2025

A public park at Barangaroo that was due to be finished before Crown opens its waterfront tower might not be completed for another five years, as the ILGA inquiry casts doubt over the casino tower's December opening.
Probe reveals governance “debacle”

Probe reveals governance “debacle”

Crown Resorts is expected to keep its coveted Sydney license, but a suitability probe has unveiled a pattern of compliance breaches and lax corporate...

Growing doubts Crown Sydney will open this year

As a result of its disastrous performance in the New South Wales probity hearings, there are growing doubts that Crown Resorts will receive the green light from regulators to open Crown Sydney in December as planned. It may also leave the firm’s more vulnerable to an ongoing class-action lawsuit.
Business up, but operators wary of spending

Business up, but operators wary of spending

Revenue and sentiment amongst Australia’s slot venue operators has improved significantly, though many are still wary about loosening the purse strings to pay for new products, according to an annual slot machine survey from J.P. Morgan.

Slot operators more optimistic as revenue improves

Operators of Australia's slot parlours are more optimistic about recovery now than in July, as revenues have improved, according to J.P. Morgan's 11th annual slot survey.

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