Court: Chinese VIPs lost over $600M in Crown Resorts casinos

New details have emerged in the Shanghai trial that saw 18 Crown staffers, including three Australians, face short jail terms in China.

The Australian Financial Review obtained a copy of the written judgment by the Shanghai Baoshan district court, which stated that the Australian casino operator issued A$38.5 billion (US$29.26 billion) in “rolling chips” to its Chinese VIP clients last financial year.

In return, Crown Resorts generated A$875 million (US$664.91 million) in VIP revenue from its mainland Chinese visitors. The court ruling noted that the sales plan, profit targets and performance details obtained from Crown indicated the casino company had “increased its targets in mainland China over recent years,” according to the report.

At the center of Crown’s push into China was Jason O’Connor, the casino group’s head of international VIP services. Documents obtained by the Shanghai Public Security Bureau include O’Connor’s itinerary, which, according to the new outlet, showed that the Crown executive “planned to meet important existing clients” as well as “develop potential new clients in mainland China.”