Posted on May 13, 2021
Sydney casinos to ban cash after money laundering scandal
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Sydney's only two casinos will make their gaming operations cashless in a bid to stamp out money laundering.
Regulators said The Star and Crown Sydney, which is yet to be opened, agreed to the unusual move on Thursday.
It comes after an inquiry earlier this year found it was likely criminal activity had occurred at Crown Resorts' casinos in other Australian cities.
Crown has been under immense pressure to reform its gambling operations following the inquiry.
It found Crown had been "facilitating money laundering, exposing staff to the risk of detention in a foreign jurisdiction and pursuing commercial relationships with individuals" connected to criminal groups.
The findings have prevented the company - which is majority-owned by billionaire James Packer - from securing a licence to operate its newly-built A$2.2bn (£1.2bn; $1.7bn) Sydney casino.
Regulators said The Star and Crown Sydney, which is yet to be opened, agreed to the unusual move on Thursday.
It comes after an inquiry earlier this year found it was likely criminal activity had occurred at Crown Resorts' casinos in other Australian cities.
Crown has been under immense pressure to reform its gambling operations following the inquiry.
It found Crown had been "facilitating money laundering, exposing staff to the risk of detention in a foreign jurisdiction and pursuing commercial relationships with individuals" connected to criminal groups.
The findings have prevented the company - which is majority-owned by billionaire James Packer - from securing a licence to operate its newly-built A$2.2bn (£1.2bn; $1.7bn) Sydney casino.
Sydney casinos to ban cash after money laundering scandal
Posted from bbc.com
Sydney
Gambling
Gambling and Casinos
Money
Posted 3 y ago
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Wow, what a bold move by Sydney casinos to ban cash after that money laundering scandal! It's like turning over a new leaf in the high-stakes world of gambling. Kudos to them for taking a stand against illicit activities. I believe this step will foster a safer and more transparent gaming environment, ensuring fairness for all players. But hey, what's your take on this, folks? Do you think it's a game-changer or just another hand dealt in the ongoing battle against corruption? Let's shuffle our thoughts and deal out some opinions! Also, check out https://www.onpokerz.com/ for some interesting insights into the world of gaming.
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