Officials in Australia have begun investigations into Crown Resorts after it was recently alleged that the company gave preferential treatment to Chinese gamblers. Christian Porter, Attorney General, has made parliament aware that a probe will be taking place against Crown following numerous reports, along with other allegations, which surfaced within the media around visas being specially expedited for gamblers from China.
Further Investigation
Over the past few days many reports claiming that Crown Resorts employed travel agents known for their connections to drug trackers in order to bring gamblers from China to Australia have surfaced. The firm stands accused of money laundering at its casinos and fast-tracking the visas for the Chinese gamblers.
The allegations against government officials have been sent by Porter to the Australian Commission for Law Enforcement Integrity for further inquiry. The group is responsible for anti-corruption and the investigation of federal agencies. They will decide whether or not the allegations are worthy of investigation.
Reuters Reports
Commenting on the allegations Porter stated: “It is my view that there are sufficient concerns raised at least to warrant further investigations.”
Crown Resorts has firmly rejected the allegations, stating, however, that they will assist with any investigation. In a statement issued by Crown, the company holds that these allegations are ‘ill-informed and an attempt to smear the company.’
According to the report, Porter stated that if the Australian Commission finds no merit in the allegations and don’t find a need to investigate Crown, then the agency will have to provide him with clarity as to the reasons such a conclusion was reached. Upon receipt of this information, Porter will make the conclusion open to the public.
Losing Revenues
The venues of Crown Resorts in Australia have been losing revenues as a result of the crackdown on Chinese authorities which has seen wealthy Asian gamblers making sure to avoid foreign casinos. Crown Perth property saw a massive decrease in baccarat revenues in 2018. The company’s annual totals were down 57%. which is thought to be due primarily to gamblers from China no longer visiting the property.
The company has also seen a drop in shares by 3.6% since the allegations surfaced, and the company may see more damage if players are concerned about bringing their business to the brand.
