Money laundering allegations have harmed Crown Resorts' attempts to operate a new Sydney casino, as a public inquiry issued a harsh rebuke of the company.
Crown built the casino property, but the casino portion has not launched to the public yet, and it appears that there will have to be significant changes at the corporate and cultural levels in order to be deemed fit to run the casino.
Former judge Patricia Bergin ran the probe, which ran for a year and saw an extensive link into money laundering rumours. The company reportedly worked with junkets to lure in VIP clients from overseas, and the tracing of finances from customers was less than ideal. Bergin's report found that Crown is not fit to run the new casino because of "deficient risk-management structures" and "poor corporate governance".
The report isn't binding, but will be sent to the Independent Liquor and Gaming Authority (ILGA) of New South Wales, who'll make a decision.
We're following this story and will be updating readers as we learn more.