Australia: Casino group CEO steps down amid money laundering scandal
The head of Australia s Crown Resorts casino group has announced his resignation, following a scathing report into the company s operations. The company has been accused of facilitating money laundering and mafia ties.
Amid the fallout from a money laundering scandal, the CEO of Australia s Crown Resorts, Ken Barton, announced his resignation on Monday. Crown Resorts has been accused of facilitating illegal activities at its casinos in the cities of Melbourne and Perth.
Crown Resorts, Australia s biggest gaming and entertainment group, was rocked by a blistering report on the firm s operations last week. The inquiry, commissioned by the New South Wales Liquor and Gambling Authority watchdog, recommended that Crown Resorts be denied a license to run a glitzy casino tower on Sydney s waterfront.
And his gambling? Internal emails from Crown, as reported by my colleague Nick McKenzie in 2019, showed exactly why Huang was so valued by the casino. He was gambling $200 million a year. In one casino in a single year. And that was before he moved to Australia.
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Once here, his punts at Crownâs tables increased âexponentiallyâ, according to an email written by Crownâs vice-president for VIP lifestyle marketing, Maxwell Wang, in 2015. Huang was gambling some $800 million a year on Crownâs tables. In a single year.
An excited Wang used him as a case study for Crownâs sales staff. Wang described Huangâs move to Australia as a âlifestyle eventâ. Wang wrote: âLifestyle events can help your customer increase turnover exponentially.â It is not suggested that Huang was gambling with anybodyâs money but his own. But did Crown know this for certain? Nobody asked. Nobody wanted to know. The example shows the frailty of
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