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Crown Casino Will Have To Postpone The Launch Of Barangaroo Property

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The Independent Liquor and Gaming Authority of New South Wales (ILGA) has requested Crown Resorts to postpone the opening of its new Sydney casino.
This regulator has asked Crown Resorts to postpone the opening of its new property which is worth $2.2 billion. It is located in Barangaroo and was scheduled to start its operations by December 14, 2020.
Currently, the officials at Crown are undergoing a long inquiry for the money laundering case. This inquiry began after it was reported that big criminals frequently entered the casino with their gangs for laundering cash. In 2016, Chinese authorities had also convicted their staff members for illegally being the promoters of gambling.
On Wednesday, the Independent Liquor and Gaming Authority of New South Wales announced that the casino should only be granted a license for the new casino after the inquiry’s findings are released by the concerned officials. This is why trading was suspended in the shares of Crown Casino on Wednesday.
The retired judge who is heading the inquiry is Patricia Bergin. Her report on the inquiry is due in February 2021.
The chairman of Independent Liquor and Gaming Authority of New South Wales Philip Crawford said that the authorities have found some evidence in the ongoing inquiry which are said to be gravely serious. If any gaming activity is conducted in the casino before the findings of the inquiry are released, it could pose a serious threat that will be unacceptable to the community. He added that before considering the inquiry’s findings if the authorities grant a license to Crown Resorts it could go against the interest of the public.

At the beginning of this week, Crown announced its decision of stopping dealing with every junket operator in the new casino to convince the authorities of its commitment to running a safe and corruption-free environment in the new casino.

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