Crown parts ways with junkets for good
The operator will only work with authorised junkets. It has begun a consultation with regulators from different states.
Australia.- Crown Resorts has confirmed that its board has decided to permanently stop working with junkets.
In September, the Australian operator informed its shareholders through a release to the Australian Securities Exchange (ASX) that it had decided to suspend activity with junket operators until June 30, 2021.
That came after failings emerged during the New South Wales Independent Liquor & Gaming Authority’s (ILGA) hearing into the company operations in China. The hearing took testimony from gaming billionaire and major stakeholder, James Packer.
The regulator is now determining if Crown is fit to retain its licence for the casino it plans to open in December in Sydney.
In the filing in September, the company said it would conduct a “comprehensive review of its processes” in the junkets segment.
But in its latest release to the ASX, Crown says its board has now decided to permanently cease dealing with all junket operators, subject to consultation.
The company said: “Crown will only recommence dealing with a junket operator if that junket operator is licensed or otherwise approved or sanctioned by all gaming regulators in the States in which Crown operates.”
The firm said that in order to achieve that goal of working only with regulated and approved junkets, it has begun consultation with gaming regulators in Victoria, Western Australia and New South Wales.
