Crown Resorts' reassurance that its 'junket' tour partners were regulated and licensed in Macau provides no comfort against revelations of links to drug syndicates, an inquiry has heard.
that Crown went into business with junket operators, who bring wealthy Chinese gamblers to its Australian casinos, with links to Asian crime gangs.
The advertisements claimed that its Macau-based junkets partners such as Suncity are licensed and "subject to regulatory oversight and probity checks". Likewise the Crown board's reassurance that Suncity was a "global company listed on the Hong Kong Stock Exchange" was of "very little" comfort, said Mr Bromberg, having investigating several Hong Kong-listed gambling companies and finding the regulators there did not have the resources or power to investigate their overseas activities.
And when implemented in 2004 those rules did not apply to existing junkets operators, which received licences without any detailed probity investigation taking place, he said. Junket licences were also frequently bought and sold.
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