Articles for Crown Resorts

Crown Resorts to pay $450 million fine for money laundering breach, Federal Court orders
1 year, 5 months ago

Crown Resorts to pay $450 million fine for money laundering breach, Federal Court orders

ABC  

In short: Crown Resorts will pay an interest-free $450 million fine for breaching money laundering laws Crown Resorts will pay an interest-free $450 million fine for breaching money laundering laws What's next? Crown will pay $125 million up front, $125 million within a year, and a further $200 million in two years Crown Resorts has been slapped with Australia's third-largest …

Financial Court Money Laundering Money Pay Million Federal Court
Crown Resorts and AUSTRAC agree to $450 million fine over money laundering breaches
1 year, 6 months ago

Crown Resorts and AUSTRAC agree to $450 million fine over money laundering breaches

ABC  

Crown Resorts and the Australian Transaction Reports and Analysis Centre have agreed to a $450 million penalty over historical breaches of Australia's anti-money laundering laws at its Melbourne and Perth casinos. Key points: Crown Resorts and AUSTRAC have agreed that the penalty for the money laundering breaches is appropriate Crown's CEO says the company is committed to rectifying its past …

Money Laundering Money Fine Million Victoria Crown Ctf
Afterpay's founders Anthony Eisen and Nick Molnar are Australia's highest-paid CEOs
2 years, 5 months ago

Afterpay's founders Anthony Eisen and Nick Molnar are Australia's highest-paid CEOs

ABC  

Afterpay's co-CEOs and founders, Anthony Eisen and Nick Molnar, are Australia's highest-paid executives, collecting a combined $264.2 million — together, they earned more than 2,800 times the full-time average wage. Even without the Afterpay duo's windfall, ACSI's report says a new record high would have been set by CSL's Paul Perrault with realised pay of $58.9 million. Two additional ASX200 …

Investments Pay Million Chief 2020 John Crown
Crown Perth royal commission finds casino giant unsuitable to hold WA's only gaming licence
2 years, 9 months ago

Crown Perth royal commission finds casino giant unsuitable to hold WA's only gaming licence

ABC  

Crown Resorts has been found unsuitable to hold a gaming licence in Western Australia, but the lights will stay on in the state's only casino. Key points: The royal commission identified a series of failures by Crown Resorts It has stopped short of recommending Crown be stripped of its licence "Numerous deficiencies" have also been found in WA's gaming regulator …

Royal Gaming Report Commission Licence Victoria Crown
Crown agrees to Blackstone's $9b takeover bid; ASX higher as oil prices jump on Ukraine fears
2 years, 10 months ago

Crown agrees to Blackstone's $9b takeover bid; ASX higher as oil prices jump on Ukraine fears

ABC  

Australian shares have closed slightly higher as investors fret about deepening tensions between Russia and Ukraine, but Crown shares have jumped after it accepted a private equity takeover offer. Key points: Crown Resorts has agreed to an $8.9 billion takeover by private equity firm Blackstone JB Hi-Fi is buying back $250 million of its shares, despite a fall in profits …

Energy Ukraine Russia Oil Prices Oil Prices Cent
Public hearings to be held into Star Casino's ability to counter organised crime, money laundering
3 years, 2 months ago

Public hearings to be held into Star Casino's ability to counter organised crime, money laundering

ABC  

Public hearings will be held as part of a review of Sydney's The Star Casino, examining the organisation's ability to counter money laundering and infiltration by organised crime. Key points: Senior barrister Adam Bell SC is heading the review into Star and called for the public hearings It is examining whether Star remains suitable to hold a casino licence Star …

Money Laundering Money Review Public Hearings Public Bell Crown
Crown floats mandatory vaccination policy for staff and customers
3 years, 3 months ago

Crown floats mandatory vaccination policy for staff and customers

ABC  

Crown Resorts has revealed it is pushing for mandatory COVID-19 vaccination for its employees and could ban unvaccinated customers from its venues. Key points: Crown's mandatory vaccination policy would apply to 20,000 workers at its resorts and casinos It says 60 per cent of its workforce has already had at least one dose of vaccine Crown says the majority of …

Vaccination Employees Resorts Mandatory Crown Resorts Mandatory Vaccination Customers Crown
Perth Casino Royal Commission hears gambling regulator may call for Crown's licence to be cancelled
3 years, 4 months ago

Perth Casino Royal Commission hears gambling regulator may call for Crown's licence to be cancelled

ABC  

Western Australia's gambling regulator may call on Racing and Gaming Minister Reece Whitby to cancel Crown Perth's casino licence before the royal commission has handed down its findings, the inquiry has been told. Key points: The first part of the inquiry looked at how the casino was regulated But the commission requested an extension to look at other issues Former …

Royal Money Laundering Inquiry Report Commission Crown Perth
Star withdraws Crown casino merger proposal in wake of Victorian royal commission evidence
3 years, 5 months ago

Star withdraws Crown casino merger proposal in wake of Victorian royal commission evidence

ABC  

The Star Entertainment Group has withdrawn its bid to merge with Crown Resorts after a royal commission in Victoria heard Crown had been involved in illegal conduct. Key points: Star Entertainment says the royal commission has raised doubts as to whether Crown can keep its licence Counsel assisting the commission said earlier this week evidence revealed illegal and highly inappropriate …

Royal Evidence Money Laundering Proposal Star Commission Victoria
Crown Resorts not suitable to hold Victorian casino licence, royal commission lawyer says
3 years, 5 months ago

Crown Resorts not suitable to hold Victorian casino licence, royal commission lawyer says

ABC  

Crown Resorts is not suitable to hold Victoria's sole casino license due to evidence it engaged in illegal conduct encouraged by a culture that put profit ahead of integrity, the royal commission's lead lawyer has told the inquiry. Key points: Counsel assisting the inquiry, Adrian Finanzio SC, says evidence reveals illegal and highly inappropriate conduct by the casino He says …

Gambling Evidence Money Laundering Money Inquiry Victoria Crown
Star launches Crown casino merger bid, in attempt to create $12 billion gambling giant
3 years, 7 months ago

Star launches Crown casino merger bid, in attempt to create $12 billion gambling giant

ABC  

Casino operator The Star Entertainment Group has submitted a merger proposal to main rival Crown Resorts. Key points: The Star has submitted a merger proposal offering 2.68 of its shares for every Crown share Blackstone has raised its cash bid for Crown from $11.85 to $12.35 a share Crown has appointed current Lendlease boss Steve McCann as its new managing …

Proposal Star Share Sydney Merger Crown Offer
Victoria's Crown royal commission to go further than NSW inquiry, commissioner says
3 years, 9 months ago

Victoria's Crown royal commission to go further than NSW inquiry, commissioner says

ABC  

Victoria's royal commission into Crown Casino will go further than the New South Wales inquiry and will put the management of gambling addiction front and centre, despite it not being directly in its terms of reference, former judge Ray Finkelstein has said. Key points: Mr Finkelstein said the "widespread" issue of problem gambling affected families and employers Crown resorts disagrees …

Inquiry Commission Response Victoria Crown Nsw Findings
Blackstone's $8b Crown takeover bid faces hurdles, like whether James Packer will want a higher price
3 years, 9 months ago

Blackstone's $8b Crown takeover bid faces hurdles, like whether James Packer will want a higher price

ABC  

Crown Resorts has confirmed an $8 billion takeover offer from US private equity giant Blackstone. These include several inquiries into the Casino giant by state-based regulators, including two royal commissions, looming class actions and financial regulator AUSTRAC investigating Crown for potential breaches of Australia's anti-money laundering and counterterrorism financing laws. More change is coming for embattled casino giant Crown Resorts …

Takeover Class Actions Share Billion Las Vegas Cent James
Crown Perth's suitability to hold casino licence to be examined in WA royal commission
3 years, 9 months ago

Crown Perth's suitability to hold casino licence to be examined in WA royal commission

ABC  

The WA government has announced a royal commission will examine Crown's suitability to run its casino at Burswood. Key points: The royal commission is expected to deliver an interim report by June WA's gambling regulator had called for an inquiry into Crown's licence The government says there is no need to suspend the casino licence The move is in response …

Royal Inquiry Commission Licence Victoria Crown Resorts
Daniel Andrews prepared to rip up Crown casino licence if royal commission recommends it
3 years, 10 months ago

Daniel Andrews prepared to rip up Crown casino licence if royal commission recommends it

ABC  

Victorian Premier Daniel Andrews says he is prepared to rip up Crown Resorts' licence to run its Melbourne casino if a newly announced royal commission recommends it. Key points: Mr Andrews said the government would aim to implement all recommendations The opposition accused the government of previously sweeping the NSW findings under a rug The Premier said he would not …

Royal State Licence Melbourne Andrews Crown Nsw
Victorian government calls royal commission into Melbourne's Crown Casino
3 years, 10 months ago

Victorian government calls royal commission into Melbourne's Crown Casino

ABC  

Crown Resorts' suitability to run Melbourne's casino will be tested by a new royal commission in Victoria, after a damning NSW inquiry found the gambling giant was not suitable to hold a casino licence. Key points: Former judge Raymond Finkelstein will report back to the Victorian government by August 1 The royal commission will determine if Crown Melbourne is suitable …

Royal Inquiry State Commission Licence Melbourne Crown
James Packer might need to sell his Crown stake. Who will buy the tarnished casino giant?
3 years, 10 months ago

James Packer might need to sell his Crown stake. Who will buy the tarnished casino giant?

ABC  

A blockbuster report detailing Crown Resorts' failings — facilitating money laundering for criminal gangs, consorting with shady figures and failing to protect staff from imprisonment overseas — has left the gambling giant vulnerable. Key points: Commissioner Bergin's scathing report continues to push change at Crown Resorts Key shareholder James Packer may need to sell down his stake Previous attempts at …

Money Laundering Company Sydney Sell Stake Victoria Crown
Victorian Government under pressure over Crown Casino after NSW inquiry
3 years, 10 months ago

Victorian Government under pressure over Crown Casino after NSW inquiry

ABC  

Victorian Premier Daniel Andrews has defended the state's gambling watchdog after a scathing New South Wales inquiry found Crown Resorts was not suitable to hold a casino licence in that state. Key points: Mr Andrews says changes will be made to the Victorian Commission for Gambling and Liquor Regulation if they are needed But he says the Government needs the …

Inquiry Review Melbourne Andrews Crown Nsw Casino
Crown Casino Perth licence under scrutiny as WA Minister calls report 'deeply concerning'
3 years, 10 months ago

Crown Casino Perth licence under scrutiny as WA Minister calls report 'deeply concerning'

ABC  

WA's Racing and Gaming Minister and Police Commissioner have both expressed concern over a damning report into Crown Resorts amid calls for the company's Perth casino licence to be suspended and reviewed. Key points: The report says Crown Resorts is unfit to operate a new Sydney casino WA's State Solicitor has been asked to review the report's findings WA Senator …

Gaming State Licence Melbourne Sydney Nsw Casino
Crown Resorts 'not suitable' to hold Barangaroo casino licence, inquiry hears
4 years, 1 month ago

Crown Resorts 'not suitable' to hold Barangaroo casino licence, inquiry hears

ABC  

An inquiry into Crown Resorts has been told the company is not suitable to hold the licence for the soon-to-be-opened multi-billion dollar casino in inner Sydney. Key points: The NSW Premier said she would seek "urgent" advice on the matter The inquiry has raised allegations of ignoring money laundering and failure to protect staff in China The Counsel Assisting criticised …

China Inquiry Bell Staff Crown Resorts Crown Resorts
James Packer tells Crown inquiry his bipolar medication impairs memory
4 years, 2 months ago

James Packer tells Crown inquiry his bipolar medication impairs memory

ABC  

Australian businessman James Packer has told the independent inquiry into Crown casinos that his bipolar disorder has impacted his behaviour in the past. Key points: James Packer faced the inquiry into the Crown Sydney licence for the first time on Tuesday He told the inquiry it was "correct" he was on medication that impairs his memory Mr Packer resigned from …

Inquiry Sydney Emails Crown Packer James Packer Crown Sydney