{"id":10351,"date":"2020-09-26T17:43:41","date_gmt":"2020-09-26T17:43:41","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=10351"},"modified":"2026-04-24T01:29:55","modified_gmt":"2026-04-24T04:29:55","slug":"crown-suspends-junkets-until-june-2021","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/crown-suspends-junkets-until-june-2021","title":{"rendered":"Crown suspends junkets until June 2021"},"content":{"rendered":"\n

The Australian operator has begun a review of its compliance processes in light of the ILGA’s public hearings.<\/p>\n\n\n\n\n\n\n\n

Australia.- The casino operator Crown Resorts has confirmed it will suspend all junket-related activity until June 2021 while it reviews its processes.<\/p>\n\n\n\n

The operator made the announcement n a filing to the Australian Securities Exchange (ASX).<\/p>\n\n\n\n

The\u00a0New South Wales Independent Liquor & Gaming Authority (ILGA<\/em><\/strong>) is currently determining if Crown is fit to retain its licence following evidence presented at a public hearing into an incident in 20<\/strong><\/em>16<\/em><\/strong><\/a> when Crown executives were arrested in China for promoting gambling.<\/p>\n\n\n\n

In the meantime, the company has said it will conduct a “comprehensive review of its processes\u201d in the junkets segment.  <\/p>\n\n\n\n

It has also decided to hire a specialist for the newly created role of Head of Compliance and Financial Crimes, who will report directly to the Board. <\/p>\n\n\n\n

In the latest filing, Crown said its VIP program has contributed approximately 7 per cent of Crown\u2019s normalised EBITDA over the last five years. <\/p>\n\n\n\n

Meanwhile, the company plans to progressively open its resort in Sydney from around December 14. Once fully operational, Crown Sydney will have 30 table games across 12 private gaming rooms, and 129 table games and 66 electronic table game terminals in two gaming halls. <\/p>\n","protected":false},"excerpt":{"rendered":"

The Australian operator has begun a review of its compliance processes in light of the ILGA’s public hearings.<\/p>\n","protected":false},"author":2,"featured_media":10353,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Crown Resorts has suspended all junket-related activities until June 2021 and initiated a comprehensive compliance review, including creating a Head of Compliance and Financial Crimes role. This action follows public hearings by the New South Wales Independent Liquor & Gaming Authority (ILGA) to assess Crown's suitability to retain its license, prompted by past incidents involving executives in China. The operator's VIP program historically contributed 7% of its normalised EBITDA, as it prepares to progressively open Crown Sydney.","focusai_entities":"Crown Resorts, New South Wales Independent Liquor & Gaming Authority (ILGA), Australian Securities Exchange (ASX)","focusai_location":"Australia, Sydney, China","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), payments_fraud_aml (0.8), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"ILGA License Impact","query":"What specific criteria will the ILGA apply in its 'fitness' determination for Crown Resorts' license, and what are the potential ramifications for Crown Sydney's operational launch?"},{"label":"Junket Revenue Mitigation","query":"How does Crown Resorts plan to mitigate the 7% normalised EBITDA impact from the junket suspension, and what alternative VIP acquisition strategies are being explored?"}],"footnotes":""},"categories":[16336,157],"tags":[14657,23728,23751],"class_list":["post-10351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","tag-crown-resorts","tag-ilga","tag-junkets"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=10351"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10351\/revisions"}],"predecessor-version":[{"id":777009194,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10351\/revisions\/777009194"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/10353"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=10351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=10351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=10351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}