Australia

Australia’s Crown casino company gambles away its reputation

Published

2 years ago

October 19, 2017

Australia's Crown casino company gambling away its reputation

Reading Time: 1 minute

A lawmaker has accused Australian casino company Crown of rigging slot machines and concealing potential money laundering. Whistle-blower accounts alleged the state regulator covered up criminal behavior.

Australian gambling powerhouse Crown is facing a raft of allegations, including slot machine tampering and avoiding money laundering scrutiny after whistleblower accounts were presented in parliament on Wednesday.

Independent MP Andrew Wilkie submitted video evidence in Canberra from three former employees accusing Crown of rigging machines at its flagship Melbourne casino to work in its favor, including modifying buttons that allowed them to illegally auto-play.

The whistleblowers also claimed staff were encouraged to use different identity cards for transactions of more than 10,000 Australian dollars ($7,840, 6,665 euros) to avoid the scrutiny of Australia’s money laundering watchdog.

“If these allegations are true, then Crown would be facilitating money laundering for any number of nefarious reasons, like tax fraud, drug running and even terrorism, Wilkie said under parliamentary privilege granting MPs legal immunity.

Crown Resorts, which is controlled by billionaire James Packer, has denied any wrongdoing.

Shares down sharply

The whistleblower assertions extended to the Victorian Commission for Gaming and Liquor Regulation, the state gaming regulator, with the accounts saying the regulator knowingly turned a blind eye to machine tampering.

Shares in Crown, which operates casinos across Australia and the world, were down about 8 percent in afternoon trading.

Gambling addiction is a major problem in Australia. Advocates for reform estimate that people lose around 12 billion Australian dollars. Last month, gambling addict Shonica Guy launched a landmark case in the Federal Court against Crown and machine maker Aristocrat, alleging players were misled or deceived about their chances of winning.

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George Miller

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Australia

Crown Resorts Gets a $7.1 Billion Bid from Wynn Resorts

Published

2 weeks ago

April 10, 2019

Niji Narayan

Crown Resorts Gets a $7.1 Billion Bid from Wynn Resorts

Photo Source: agbnippon.com

Reading Time: 1 minute

Crown Resorts in Australia has got a $7.1 billion bid from the Las Vegas based casino giants, Wynn Resorts.

Crown Resorts made a statement about the $7.1 billion (worth 10 billion in Australian Dollars) bid to the Australian Stock Exchange. The Melbourne-based company will be opening a new establishment in Barangaroo, a harbourside in Sydney. Wynn Resorts made a cash-and-scrip offer and Crown is considering it. The news about the takeover increased the price of Crown’s share by a staggering 21 per cent.

According to the deal, Crown Resorts will receive $10.50 on every share, for which Wynn Resorts will pay in stocks and cash. The Melbourne-based company stated that there isn’t any guarantee that the discussions will end with them accepting the offer. The proposal from the Las Vegas casino giants will need regulatory approvals and satisfy other conditions.

Australia

Ainsworth brings in Lawrence Levy as new CEO

Published

2 weeks ago

April 10, 2019

Niji Narayan

Ainsworth brings in Lawrence Levy as new CEO

Photo Source: ggrasia.com

Reading Time: 1 minute

Ainsworth Game Technology, the Australian based manufacturer and supplier of gaming solutions, has appointed Lawrence Levy as its Chief Executive Officer.

Mr Levy is having 37 years of experience in the gaming industry. Recently, he held the position of Vice President Global Sales at Novomatic AG Austria, having previously held roles in operational and sales areas within Central and South America.

Graeme Campbell, Chairman said: “Lawrence is a highly respected and experienced gaming executive and I am confident that he will further assist the Company achieve its strategies to become a leading provider of innovative gaming technology to the global market.”

Australia

Pointsbet fined $20,000 for offering inducements to gamble

Published

2 weeks ago

April 10, 2019

George Miller

Pointsbet fined $20,000 for offering inducements to gamble

Reading Time: 1 minute

Betting operator PointsBet has been convicted and fined $20,000 for posting an illegal gambling advertisement in NSW.

The penalty was handed down in Downing Centre Local Court on Tuesday 9 April after PointsBet pleaded guilty to offering people in NSW illegal inducements to gamble.

The prosecution follows an investigation by Liquor & Gaming NSW into an advertisement that appeared alongside the PointsBet app in the Apple App Store.

The advertisement offered ‘ALL 40+ METRO RACES RUN 2^ND UP TO $100 BACK’ if participants opened a betting account.

Under the NSW Betting and Racing Act, it is an offence to publish “a gambling advertisement that offers any inducement to participate, or participate frequently, in any gambling activity (including an inducement to open a betting account).”

Magistrate G J Still accepted that the advertisement may not have been easy to find on the Apple App Store but said it had the potential to drive people in the direction of PointsBet online.

Liquor & Gaming NSW Director of Compliance Operations, Sean Goodchild, said PointsBet’s advertisement had clearly offered an inducement to gamble.

“Betting operators have an obligation to ensure that all advertising complies with NSW laws on gambling advertising,” Mr Goodchild said.

“Inducements are known to increase the risk of gambling harm so any breaches are taken seriously, which is reflected in the $20,000 fine.

“Under new laws that came into effect in July 2018, wagering operators, if found guilty of promoting inducements to gamble face fines of up to $55,000 per offence and company directors can be criminally prosecuted.”