Crown Resorts Employees in China Have Been Formally Arrested
In October we had reported that 18 Crown Resorts employees had been detained in mainland China on suspicion of “gambling related crimes” in a series of overnight raids. Three of these employees, including Crown Resorts senior executive, Jason O’Connor, have now been formally arrested by Chinese officials. A fourth employee of James Packer’s company has …
Tagged arrests, China gambling, Crown Resorts, Crown Resorts employees
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Landmark Pokies Legal Action Against Crown and Aristocrat
A first-of-its-kind lawsuit was filed by law firm Maurice Blackburn on Wednesday against casino operator Crown Resorts and poker machine maker Aristocrat. The lawsuit alleges poker machines are in breach of Australian consumer law in that they ‘mislead the player into believing they are winning’. Maurice Blackburn, a Melbourne-based class-action law firm, is taking on …
Tagged Aristocrat, Crown Resorts, pokies lawsuit
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SkyCity Fears China Gambling Crackdown
SkyCity interim chief executive John Mortensen has warned of adverse effects as a result of the Chinese government crackdown on corruption and illegal gambling which led to 18 Crown Resorts employees being detained in China, including a Melbourne senior executive. The detained employees could be facing up to 10 years jail time for “gambling-related crimes”. …
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China Arrests Hit Crown Resorts Share Price Hard
Crown Resorts shares were trading 14 per cent lower on Monday following news that 18 Crown Resorts employees had been detained on suspicion of committing “gambling crimes” in China. It is the biggest share price drop for the company’s stock in 8 years, costing James Packer half a billion dollars. Three Australians detained in China …
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Chinese Aussie High Roller Investigated for Money Laundering
Australian casino operator Crown Resorts Limited is in the news again this week following reports that a Chinese-Australian high-roller, Dan Bai Shun Jin, is currently under investigation by the Australian Federal Police (AFP) and Internal Revenue Service in the United States over allegations he engaged in illegal money laundering transactions at casinos in the US, Macau, …
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James Packer Sells $450M in Crown Resorts
James Packer has sold 35 million shares of Crown Resorts at $12.80 per share, a 5 per cent discount to Crown’s closing price on Friday. Packer Relinquishing His Majority Stake in Crown Through Consolidated Press Holdings (CPH), Packer will now own 48.2 percent of the $10 billion company, cutting its stake from 53 percent, but will remain …
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