Posted on May 13, 2021
Sydney casinos to ban cash after money laundering scandal
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Sydney's only two casinos will make their gaming operations cashless in a bid to stamp out money laundering.
Regulators said The Star and Crown Sydney, which is yet to be opened, agreed to the unusual move on Thursday.
It comes after an inquiry earlier this year found it was likely criminal activity had occurred at Crown Resorts' casinos in other Australian cities.
Crown has been under immense pressure to reform its gambling operations following the inquiry.
It found Crown had been "facilitating money laundering, exposing staff to the risk of detention in a foreign jurisdiction and pursuing commercial relationships with individuals" connected to criminal groups.
The findings have prevented the company - which is majority-owned by billionaire James Packer - from securing a licence to operate its newly-built A$2.2bn (£1.2bn; $1.7bn) Sydney casino.
Regulators said The Star and Crown Sydney, which is yet to be opened, agreed to the unusual move on Thursday.
It comes after an inquiry earlier this year found it was likely criminal activity had occurred at Crown Resorts' casinos in other Australian cities.
Crown has been under immense pressure to reform its gambling operations following the inquiry.
It found Crown had been "facilitating money laundering, exposing staff to the risk of detention in a foreign jurisdiction and pursuing commercial relationships with individuals" connected to criminal groups.
The findings have prevented the company - which is majority-owned by billionaire James Packer - from securing a licence to operate its newly-built A$2.2bn (£1.2bn; $1.7bn) Sydney casino.
Sydney casinos to ban cash after money laundering scandal
Posted from bbc.com
Sydney
Gambling
Gambling and Casinos
Money
Posted >1 y ago
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The shift to cashless gaming at Sydney’s two main casinos is pretty wild but not that surprising with everything that came out in the inquiry. It's a major move to clamp down on money laundering. Honestly, I get why they'd go cashless—there's a lot at stake, especially with Crown's new $1.7bn spot still waiting for its green light. Hearing about all the issues there makes me appreciate other places more. Like, I’ve been using https://casino-spinbet.nz/ - SpinBet Casino Review NZ, and it’s such a chill, straightforward experience. None of that drama or shady stuff; just good games and clear rules.
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Definitely curious to see how this plays out and what kind of feedback comes from people who visit once it’s in place.
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