Two land-based casinos in Sydney will put a halt to cash transactions to prevent money-laundering operations.
Crown Sydney, which is still not officially opened, and The Star have agreed to a somewhat unordinary move. They have decided to ban cash payments after a report earlier this year showed that criminal activity likely occurred in Crown casinos in other cities in Australia. Consequently, the casinos have decided to prevent similar operations from happening inside their properties, which is why they have chosen to go cashless.
The report on the scandal has exposed some of the staff and their connection to various criminal groups. As a result, the chief executive of the casino group, Ken Barton, has quit his job.
The affair has prevented Crown Resorts from securing a licence for its newest Sydney casino, which cost $2.2 billion to build. That is why the company has had to come up with a quick solution to speed up the reform process. Committing to ban cash has been a major move that is supposed to help Crown obtain the licence for its latest property.
The Independent Gaming and Liquor Authority (ILGA) has reported on this first. It has stated that Crown plans on banning cash. However, the exact timeline hasn’t been specified. According to the local media, this change will also apply to other casinos owned and operated by Crown. which are located in Melbourne and Perth.
A spokesman for the company has stated that the transition will be gradual, as the company has to keep the customer in mind, also adding that the timeline for switching is yet to be determined.
This change means that both casinos in Sydney will force their users to use credit cards or other cashless payment options that can be linked to their identity. That way, the operator will be able to track who deposits and withdraws money and when. The ILGA has stated that both casinos in Sydney have pledged to put a stop to international paid-for trips, which have been regarded as another source of illegal activities.
Big Changes Taking Place in Crown
Crown has been a subject of various allegations of illicit activities taking place inside their land-based properties. The two most serious ones so far have been money laundering and junkets for high rollers belonging to various organised crime groups.
The operator opened a tower on Sydney Harbor last December. Even though the hotel has been accepting guests all this time, the casino wasn’t allowed to operate while the inquiry regarding money laundering and junkets was underway.
Since then, the company has replaced the majority of its senior executives. The ILGA has also announced that the operator has made significant progress in proving it was suitable for receiving an operating licence.
About the Author
