About: http://data.cimple.eu/news-article/71d84b38d2cbbd32289271bb3b78492193231d7979d558dc6dd0f9ac

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About: http://data.cimple.eu/news-article/71d84b38d2cbbd32289271bb3b78492193231d7979d558dc6dd0f9ac Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	The operator of a newly built multi-billion-dollar casino that dominates Sydney's skyline was declared unsuitable to hold a gambling license Tuesday, following allegations of money laundering and links to organised crime. A public inquiry recommended Crown Resorts -- long run by media scion James Packer -- should be denied a license to run the casino at the gleaming 75-storey tower on Sydney's waterfront over its failure to tackle the accusations. The New South Wales Liquor and Gaming Authority had commissioned the probe into Crown's operations more than a year ago, after media reports that existing Crown casinos in Australia were used to launder profits from human trafficking, drugs, child sexual exploitation and terrorism. Former Supreme Court judge Patricia Bergin reported Crown was "not suitable" for a license and had been "facilitating money laundering" and doing business with groups linked to triads and other organised crime organisations. She pilloried the company for having "poor corporate governance, deficient risk management... and a poor corporate culture" and recommended a slew of reforms before the Sydney project could open to punters. The report noted it took 14 months for Crown to address media reports of money laundering, and some in-company investigations "only commenced in earnest" weeks before the casino was due to open last year. At the time, a company lawyer told the inquest late that illicit funds were "probably" laundered through two high roller accounts at the company's operations in Perth and Melbourne. Crown insists it has since fixed shortcomings and in a brief statement on Tuesday said it was "currently considering the Inquiry Report". Trade in shares of Crown -- which has a market capitalisation of more than US$5 billion -- were halted on the Australian Securities Exchange ahead of the release of the report. The findings and recommendations will now be considered for formal adoption by regulators. arb/al/qan
schema:headline	Landmark Sydney casino project hit by laundering probe
schema:mentions	Market capitalization Perth Slender Man Gambling Organized crime Casino Money laundering Melbourne Child sexual abuse New South Wales Sydney Human trafficking Terrorism Australia Patricia Bergin Triple deity Supreme Court of Singapore Crown Resorts High roller James Packer Public inquiry Pillory Corporate governance Australian Securities Exchange Inquest Risk management
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-02-09 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	88 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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