, in which almost $164 million was illegally churned through its Melbourne casino in a “clandestine process” that brought “handsome” benefit to the company.Money spent on “hotel transactions” was made available to the VIP customers on Crown’s gambling floor.of China by linking payments from Chinese credit cards to Crown’s Southbank hotel reception, evading anti-money laundering rules, China’s currency controls and CUP’s internal rules banning use of its cards for gambling.
The fine comes as hearings wrap up into the suitability of rival casino operator Star Entertainment to hold a licence. The inquiry has revealed that Star engaged in misconduct that largely mirrored that of Crown, including in a similar CUP scheme.Handing down the fine on Tuesday, VGCCC chairwoman Fran Thorn said the “seriousness of Crown’s illegal conduct” made the record penalty appropriate.
“Crown was aware of the risk that the CUP process could be illegal but decided to run that risk. In doing so, it showed no regard for upholding its regulatory obligations. Indeed, it went to some lengths to hide what it was doing.” “The fine will ensure that Crown is stripped of the revenue it derived from the CUP process and will send a clear message that it must comply with its regulatory obligations.”
what a shock