The Gaming and Wagering Commission of Western Australia (GWC) today issued a directive to Crown Perth to cease all junket and premium player activity.
According to a filing from Crown Resorts on the Australian Stock Exchange, the ban on high roller activity includes any conduct of junkets, or “table games activity with patrons who are non-residents of Australia with whom Crown Perth has the arrangement to pay the patron a commission, or provide transport, accommodation, food, drink or entertainment, based on the patron’s turnover or otherwise calculated by reference to such pay.”
It comes only a week after the regulator formally called for an independent inquiry into Crown’s suitability to hold a license in Western Australia, after a scathing report in NSW earlier this month detailed years of money laundering through Crown Perth.
Earlier this week, Victoria’s gaming regulator announced the establishment of a royal commission in Victoria, aimed at determining whether Crown Resorts is suitable to hold a license for its flagship property in Melbourne.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
In a series of court hearings, Imperial Pacific International has made various excuses as to why it has been unable to meet its commitments. The lawyer for Chairwoman Cui Li Jie claims that she is ignorant of the US legal system and is, in any case, powerless to fulfill the court’s demands. Attorney Michael Dotts, meanwhile, is arguing that IPI simply does not have the funds to pay what it owes under the consent judgement. However, in another case dealing with sexual harassment, former CNMI Senator Ray N. Yumul appears to have begun his work representing IPI as its CEO.
The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.