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Casino Mogul Donates to Aussie Wildfire Relief

January 14, 2020 by Admin

The world has watched in combined shock as wildfires have torn across Australia, taking lives and causing untold damage. The average person can do little other than to hope for the best, but those who are able to assist, such as local casino mogul James Packer, have done their part in the way that most makes sense, by donating.

Packer is most known for owning multiple casinos across Australia and the United Kingdom, as well as being a key name in the various luxurious Crown Resorts. He initially donated AU$1 million back in November, when the fires first erupted. But as the fires spread, intensified, and show no signs of abating, the billionaire businessman made an additional donation of AU$4 million.

The amount will be split between the Crown Resorts Foundation and Packer Family Foundation, which will, in turn, provide funding to the various fire-fighting services and relief efforts across the country.

Doing His Bit for The Country

The 52-year-old businessman explains that he was utterly horrified by the images he saw of the local devastation. This involves the latest reports on the fires, which have now claimed 2 lives, as well as destroying 43 homes in East Gippsland.

The sight motivated Packer to do his bit, he elaborated, in the only way he could, by making another donation. Though it was noted that the funds are limited to Western Australia, Victoria, and New South Wales, all of which are also home to Crown Resorts. So, some criticism has been heard accusing the mogul of favouring only areas where his personal casino investments are located. Either way, the donation is still certainly a generous one.

Crown Resorts Face Their Own Fire

But these accusations are the least of Packer’s worries at this point. His donations come at a time when he is having his own feet put to the fire, with local anti-money laundering regulator, AUSTRAC, homing in on his resorts.

Mutterings of serious misconduct in connection with Crown Resorts have long been rumoured, and may soon come to light as AUSTRAC engage in their investigations. It has been suggested that Crown Resort casinos, and by extension Packer himself, have indirectly been involved with organised crime syndicates, including those that have links to human trafficking and illegal drug trade.

It remains to be seen if the accusations turn out to be true, but the investigation itself is certainly not good publicity for the billionaire, despite his generous donations.

​

Filed Under: Australian Casinos, Casino News, Uncategorized Tagged With: crown casino

Crown Casino under Investigation by New South Wales Regulator

September 25, 2019 by Admin

Crown Casino Limited faces an unsure future after the launch of an inquiry by the Eastern New South Wales gaming regulatory agencies. The inquiry will seek to determine whether the local casino operator has acted in contravention of its license conditions. Crown Casino has sold approximately 20 percent of its stake to its Asian partner, Melco Resorts and Entertainment Limited.

The New South Wales Liquor and Gaming Authority announced that the investigation would determine whether the deal breaches the license terms of Crown Casino. Former judge, Patricia Bergin is serving as the investigation head and will determine if Crown Casino or its subsidiary are still entitled to their Barangaroo license.

The Barangaroo casino, which is still under construction near the Sydney Harbour Bridge, is an important project for Crown as its intention was to attract international casino buffs to Australia.  There is now a chance that this venue may never open its door to the public.

Star, Crown casino’s main competitor, will be keeping a close watch on this inquiry as Patricia Bergin will also be examining the suitability of the licensing laws of New South Wales in a changing environment.

James Packer is likely also holding his breath as he has already sold approximately half of his stake to Melco and has to wait for the inquiry to conclude before he can transfer the remaining stake.

A thorough investigation

Patricia Bergin will be using the accusations leveled against Crown, published in the media, to inform her opinion on the matter. According to 60 Minutes, a current affairs TV program, the affiliates, agents and subsidiaries of Crown Casino are in contravention of the terms of the gaming license and are in alliance with operators who are associated with money launderers, organized crime groups as well as drug and human traffickers.

Bergin is also obliged to investigate whether Hong Kong Casino Magnate, Lawrence Ho or other key partners who will become partners of the Crown Resort as a result of the deal, are of good repute or whether they are at all linked to any other individuals, agencies or authorities who have a negative reputation in respect to integrity, honesty, and character. Whether they have objectionable or unacceptable monetary sources will also be scrutinised.

The Barangaroo license contains a provision which has banned the father of Lawrence Ho and a few other members of the Ho family from having any involvement with Barangaroo.   Lawrence Ho’s father, Stanley, is suspected of having close relationships with organized crime, an accusation he has consistently denied.

A list of banned individuals and operators was declassified on 8 August, in the NSW parliament after independent upper house MP Justin Field demanded it be made public. Lawrence Ho’s name is mentioned, bringing to light the fact that he purchased 20 percent of the stake from James Packer while being restricted from conducting business in Barangaroo.

Melco’s association with this project is also concerning because of its association with Great Respect, a barred agency. The exposure of this document is ultimately what triggered the NSW Government to launch the investigation.

Crown Resort has committed to offering its full cooperation with the investigation. This is not the first time that the share transaction has faced opposition.  James Packer and Lawrence Ho have previously had to wait for three states in Australia to sanction the deal.

The share deal, which constitutes a   $1.75 billion payment for a 20 percent stake of Crown, was a two-part arrangement. The initial transaction happened June and the second part was due to be concluded by the end of September. Lawrence Ho, at the time, erroneously stated that it would not need any approval from regulatory bodies to be completed.

The agreement has now been amended to include a requirement of approval from the concerned agencies in New South Wales.

Australia is a prime destination for gambling enthusiasts from around the world and the country wishes to ensure that they maintain a reputation for having a fair and crime-free gambling industry.

Suspended animation for Crown Sydney

Crown Sydney was due to open its doors in 2021. The company’s hope was to establish a successful sister site to t the Crown Perth facility, which is situated in Western Australia and Crown Melbourne in Victoria.

Crown Sydney will be the second legal casino in the stat, joining ‘The Star in an effort to attract customers from the region.  In contrast to The Star, Crown Sydney’s focus will be squarely on attracting VIP’s and high rollers. The massive 75 floor, 350 room casino is designed to attract affluence.

Gamblers may never get to sample the exclusive delights of this new venue, depending on the outcome of the inquiry. All Crown’s stakeholders can do at the moment, is hope for the best.

 

Filed Under: Australian Casinos, Casino News Tagged With: crown casino

Crown casino troubles result in Melco not buying James Packer’s shares

September 8, 2019 by Admin

Lawrence Ho, CEO of Melco resorts has backtracked on plans to purchase Crown casino shares; this decision was taken against the recent backdrop of the casino being subjected to a public investigation and scandal, over alleged illegal activities.

Ho, a prominent Hong Kong businessman was set to purchase James Packer’s shares of the crown casino, planning to expand his portfolio beyond the borders of his home country. The ongoing investigation seems to have soured his interest and Melco have put their plans on hold, pending the outcome of the investigation.

Melco have indicated that a total cancellation of the trade is also possible, should the investigation result in an unfavourable decision for Melco and Crown casino.

These revelations came to light on Wednesday and are just a small part of the fallout as a result of the investigation, led by a number of media companies within Australia. The investigation uncovered that Crown casino was involved with junket companies that are backed by Asian crime gangs and Chinese foreign influence agents. This triggered a secondary investigation by the NSW Independent Liquor and Gaming Authority.

While the investigation is ongoing, the gambling industry has been carrying on with business as normal.  Demand for Australian casino games continues to grow, with the outlook for the industry at large, remaining healthy and positive.  The investigation is, however, likely to have far-reaching effects, outside of Australia.

The sale of the shares came under particular scrutiny, due to the father of Melco’s owner, Stanley Ho, having alleged ties to Asian gangs, leading investigators to believe that the sale might be related to the illegal junket operations. Melco had agreed to the purchase of a stake that is worth around $1.7 billion, with the first 10 percent transfer happening before September 30th.

The current effects of the fallout

Melco Resorts has released a statement on the NASDAQ exchange. Here, they agreed with Consolidated Press Holdings’ suggestion to extend the possibility of the deal going through by another 60 days. CHP stated that they did not perceive any breach of an agreement or unlawful activities that Melco had been taking all the steps agreed on between the two entities. The does, however, contain clauses that could result in total cancellation of the deal.

Melco kept mum about the 10 percent that they had already purchased from Crown, in the face of an increasingly complicated matter.

Crown was granted a license to create their $2 billion casinos by 2021 in Sydney provided that they agree to list of individuals and casinos that they would be prohibited from working with. Stanley Ho and Melco were on this original list, which was made public recently. Included is a casino owned by Stanley Ho, that Crown casino has dealt with extensively.

The Great Respect Limited, another company linked to Mr. Ho, is a 20 percent owner of Melco International and has a controlling stake in Melco Resorts, which, the entity with a purchasing stake in Crown. The intertwined, shadowy nature of the situation between Crown and Melco, spells serious trouble for these companies.

The current inquiry seeks to expose exactly to what extent the company has managed to breach the terms of the agreement, beyond simply breaking the law. The investigation is open-ended, with no expected date of completion being set as yet

Melco and Crown had a previous partnership, which was canceled after 19 individuals of the Crown staff were arrested on gambling-related charges.

James packer will have to wait and see if he can offload his shares, as the current situation has the future of Crown and Melco in a state of suspense.​

Filed Under: Australian Casinos, Casino News Tagged With: crown casino

Crown Casino Denies Ties to Organised Crime

August 14, 2019 by Admin

Allegations that tie Crown Casino to organized crime, money laundering, and human trafficking have been investigated in a television documentary produced by an Australian TV company and two newspapers.

Thousands of documents ostensibly leaked from the company owning casinos in the cities of Melbourne and Perth form the basis of the film’s investigation. A follow-up documentary is planned about the company’s alleged shenanigans in Sydney.

The film alleges shocking links between Crown and organized crime, claiming the company turned a “blind eye” to money laundering, as well as exploiting loopholes in Australia’s immigration processes. The film investigates allegations that the firm flew wealthy Chinese gamblers into the country without having them undergo the requisite checks. It is also claimed that Crown Casino had business ties to an Australian brothel, which is suspected to be involved in human trafficking.

Independent MP, Andrew Wilkie, said “I now know of three police officers — two currently serving — who have openly said to my staff that in Victoria, Crown is regarded as the Vatican, an independent sovereign state all to its own where the laws of Victoria, the laws of the Commonwealth (of Australia) do not apply”

These allegations have seen the state of Victoria order it’s gambling office to look into these claims against the casino giant “as a matter of priority.” Demands by experts in Australia that anti-money laundering regulator AUSTRAC examines claims that money has been passed through Crown Casino by criminals have also been made.

In a series of newspaper advertisements, the company has vehemently denied the allegations, saying it wanted to set the “record straight in the face of a deceitful campaign against Crown.” Crown, in turn, has leveled its own accusations at the filmmakers of the TV documentary, claiming that the film has unfairly attempted to damage its reputation. The company stated that takes its regulatory obligations extremely seriously.​

Filed Under: Australian Casinos, Casino News Tagged With: crown casino

Crown Resorts to be investigated by Australian officials over gambler visa fast-track claims

August 5, 2019 by Admin

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.​

Filed Under: Australian Casinos, Casino News, Uncategorized Tagged With: crown casino

Crown Melbourne Gears Up To Launch Holey Moley

July 9, 2019 by Admin

Swinging in after the launch of Juke’s, Funlab’s new karaoke concept, the Australian operators are launching its Holey Moley mini-golf venue.

Bearing the same quirky resemblance to Juke’s, the new Holy Moley is will have lovers of mini-golf thoroughly in awe at the same venue, Crown Melbourne.

The maritime, summery look and feel of the main bar, set up in an empty swimming pool is just one of the site’s many attractions. Complementing the funky aesthetic are tables fashioned as lifebuoys, a diving board and a ceiling rendered as clouds.

Funlab have gone all out on this project. The measure of the treat they’re offering can be seen just by taking a quick peek at the luxurious cocktail and food menu, which is matched, in visual extravagance, by the eighteen individually designed holes. There you will also find the cleverly named machine ‘Drop It Like Its Slot’ designed particularly for the Crown location, as well as ‘It’s-A Me, Pario!’- a slot inspired by Nintendo’s beloved Italian plumber – and ‘Do Not Go Pass’, created around the board game, Monopoly.

Despite being a world-famous brand, Michael Schreiber, CEO of Funlab, revealed that Holey Moley has surprised the organisation by just how successful it has been. This, even though Australians are among the world’s greatest lovers of mini-golf, stating, “It’s been a crazy ride in the last 12 months, we’ve taken the concept international to Singapore and New Zealand. However, we will never forget our Aussie roots, and Melbourne is where the concept really took off, with almost 760,000 rounds of golf played at Holey Moley Little Bourke Street so far”

He joked, ‘I’m surprised the sporting capital of Australia hasn’t called for mini-golf to be awarded its own sporting code”, before adding “Holey Moley is all about celebrating pop culture and nostalgia, with a dash of friendly competition and outrageous looking cocktails thrown in for good measure.”

​

Filed Under: Australian Casinos, Casino News Tagged With: crown casino, funlab, melbourne casino, mini-golf

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