Crown Sydney

Good morning. Limited co-operation between AUSTRAC and casino regulators was identified as a factor that led to Crown’s money-laundering mishaps falling through the cracks, so to speak. Today’s Industry Opinion piece comes from Jamie Nettleton and Brodie Campbell of Addisons. The duo discusses the future of Australia’s AML/CTF laws and how this will be seen impacting domestic casino operators. 

What you need to know

  • Macau is unlikely to see any significant easing of travel restrictions until next year, with real improvement in gross gambling revenue not seen until 4Q21.
  • Macau authorities say the outbreak scare is not yet over, after they found traces of Covid in eight samples taken from locations around the city.
  • Scientific Games returned to profit in 2Q21 as all business divisions showed sequential growth and its lotteries and digital divisions delivered records.
  • Genting Malaysia shares jumped 4% on Monday after the government announced easing of its Covid restrictions as vaccinations rise.

On the radar

  • Reef Casino has closed, whilst Star QLD properties have reopened.
  • Solaire operator buys back millions of shares for stock incentive plan.
  • DraftKings has acquired Golden Nugget Online Gaming in a $1.56bln deal.
  • A Saipan slot operator is suing the DOF to stop a new license fee hike.

What the papers say

  • IPI will defer its next settlement installment to fix its unstable tower cranes.
  • The CNMI casino regulator has enough funds to last only one more year.
  • Cambodia has denied news reports that SEZs are hosting casinos.
  • Shaquille O’Neal is the new brand ambassador for WynnBet.
  • The Philippines hospitality industry is expected to drop by 60% in August.

AGB Intelligence

INDUSTRY OPINION: Jamie Nettleton & Brodie Campbell, Addisons

Your Daily Asia Gaming eBrief: Crown case highlights lack of regulator comms

Crown case highlights lack of regulatory communication

Despite the increased scrutiny recently of Australia’s AML/CTF laws, the recent announcement of investigations into land-based casinos highlights the difficulties that regulators face when it comes to monitoring AML/CTF compliance and enforcing breaches. Some of the problems involved in monitoring compliance with AML/CTF laws may be attributable to the apparently limited cooperation to date between AUSTRAC and casino regulators.

Asia gaming Briefings