Australian casino operator Crown Resorts is disassociating itself from its former junket partners as the endless stream of negative news emerging from a regulatory inquiry shows no sign of abating.
On Friday, Crown announced that it had “suspended all activity with junket operators until 30 June 2021 while it undertakes a comprehensive review of its processes related to junket operators.”
Trying to calm investors as to the effect this new junket stance will have on operations, Crown said junket-based VIP play at its Melbourne and Perth casinos accounted for around 7% of its earnings over the past five years. Crown added that it’s also searching for someone to fill “the newly created role of Head of Compliance and Financial Crimes.”
Crown’s new anti-junket/pro-compliance stance follows a disastrous appearance by CEO Ken Barton at the New South Wales Independent Liquor & Gaming Authority (ILGA) inquiry into Crown’s suitability to hold a state gaming license. Barton claimed ignorance of a ‘cash desk’ at a Crown Melbourne VIP gaming room run by the Suncity Group junket.