Crown Resorts is one of the strongest casino brands in Australia, but recently, its brand has taken a large hit as it has been deemed “unsuitable” for a gaming license by Australian authorities. Chairman of the Independent Liquor and Gambling Authority (ILGA), Philip Crawford, said he was not comfortable to allow more gambling activity to proceed at the new Sydney casino.
What Did Crown Resorts Do Wrong?
It’s no secret that many countries, Australia included, take AML and KYC regulations seriously, and Crown Resorts has not been living up to expectations.
An investigation into the company revealed that war criminals had been able to gamble at its other establishments and that bags of cash could be exchanged for casino chips without the appropriate checks being carried out.
While the investigation is ongoing, Crown has not done enough to win favour with authorities. ILGA Chairman Crawford expressed his disappointment that Crown didn’t offer to postpone its opening night. This led to an emergency meeting being held by ILGA to decide whether it should be allowed to offer real money games.
The final decision on Crown’s future will be made in February 2021. If the developments reported above are any indication of how things will turn out, it doesn’t look good for the casino mega brand. This illustrates how easily a once-respected brand can fall from grace in a law abiding nation like Australia.
The Importance of Playing at Legit Casinos
Whether you gamble in real-world casinos, play live dealer games online, or both, it’s crucially important to play at safe, legit casino sites. Not only is this good for you, but it’s important to help prevent crime in the gambling business.
Crawford explained why Crown’s lack of compliance with the regulations was important. He outlined that the money received could have been used in drug dealing, sexual exploitation, or even terrorism. This hammers home the message that KYC and money laundering regulations aren’t there for no reason; they serve an important purpose.
Nobody wants to contribute to enabling criminals and terrorists to conduct their activities. This story shows that even a big brand like Crown Resorts can’t get away with being sloppy about enforcing the rules designed to protect everyone.
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