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Crown Resorts (ASX:CWN) - Executive Chairman, Helen Coonan - The Market Herald
Executive Chairman, Helen Coonan
Source: The Advertiser
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  • According to several directions issued to Crown Resorts (CWN), the casino company can no longer engage in high-roller activities at its Perth operation
  • Crown Perth will now be unable to participate in junkets or allow non-residents of Australia to receive premium or privileged service in exchange for high-value table playing
  • It follows the launch of a royal commission-like investigation last week , building on the earlier inquiry into Crown's Sydney operations that found a number of major regulatory breaches
  • In addition to the Perth investigation, Crown is also facing a royal commission into its Melbourne operations
  • Crown Resorts is up 0.3 per cent to $10.02 per share

According to several directions issued to Crown Resorts (CWN), the casino company can no longer engage in high-roller activities at its Perth operation.

The Gaming and Wagering Commission of Western Australia (GWC) told Crown Perth this morning that it will now be unable to participate in junkets — organised trips for high rollers and other VIP customers to a particular gambling facility.

It also put a ban on activities with non-residents of Australia "with whom Crown Perth has an arrangement to pay the patron a commission, or provide transport, accommodation, food, drink or entertainment, based on the patron's turnover."

The directions follow last week's launch of a royal commission-like investigation into Crown Perth after an earlier report by former NSW Supreme Court judge Patricia Bergin into the company's Sydney operation found major regulatory breaches.

It discovered that Crown had facilitated money laundering through various shell accounts and was "recklessly indifferent" to the activities of criminals using those accounts to launder money from 2014 until they were closed in October 2019.

Bergin's report also found that the company had partnered with junket operators linked to organised crime.

As a result, Crown was deemed no longer suitable to hold the license for its Sydney casino.

Based on those findings, the GWC ordered an independent inquiry into Crown Perth of February 17.

WA Racing and Gaming Minister Paul Papalia said the government "takes these issues extremely seriously" and would act on the recommended inquiry as soon as possible, giving it all the power it needs.

"I would like to thank the Gaming and Wagering Commission for providing timely advice following its consideration of the Bergin Inquiry this afternoon," he added.

"A formal recommendation from the Commission regarding an inquiry into the issues raised in the Bergin Inquiry, specific to Crown Perth operations, will now be finalised."

The Victorian Commission for Gambling and Liquor Regulation (VCGLR) then followed suit, launching a royal commission into Crown's Melbourne operation.

"This is about making sure that those who hold a casino licence in Victoria uphold the highest standards of probity and integrity — and that they're accountable for their actions," said Victorian Premier Danial Andrews.

Crown Resorts is up 0.3 per cent to $10.02 per share at 10:46am AEDT.

CWN by the numbers
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