Lisa Cheban | 9 September, 2022 12:19 | Last update on: 9 September, 2022 12:19
The crown casino will stop organizing the so called junkets for rich Chinese gamblers. These junkets are gambling trips which were organized by the Crown casino in the past. During these trips rich Chinese people from mainland China travelled to Australia to gamble in the casinos such as Crown resorts in Sydney or Melbourne.
In order to retain their gaming license, Crown casino will have to stop organizing gambling trips for Chinese millionaires and billionaires. These people from China, were gambling is prohibited (except from Macau) has always been an easy target for Australian casinos. In the process of letting these Asian gamblers gambling in the Crown casinos, the casino had failed in apply anti-laundering regulations.
So in order to retain their casino license they will have to stop these Junkets and Chinese tourist from gambling. However, that does not mean that they will stop targeting tourists. Tourists that are visiting Australia and are willing to have a little gamble at the pokies or Blackjack table is still allowed and will always be an important source of income for the crown casino.
Ciarán Carruthers, CEO of the Crown, explained to local newspapers that his goal is to ensure that the casino lives up to all the responsible gaming regulations. It will focus on providing entertainment for both national and international visitors.
Carruthers was only appointed a few weeks ago as the new CEO of Crown Resorts. 2 months after Crown resorts was acquired by the New York-based private equity firm Blackstone. The acquisition costed the American firm a total of $8,9 billion. After the acquisition the shareholders did everything for the casino to retain its casino license.