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Victoria's gambling regulator has hit Crown Resorts with a record $80 million penalty over its China Union Pay scheme, which allowed wealthy Chinese patrons to illegally access nearly $164 million in funds.
The Victorian government has unveiled new laws that would give the state's gambling regulator enhanced powers to take action against Crown Melbourne.
A judge has signed off on a $125 million settlement to resolve a shareholder class action against Crown Resorts over disclosures relating to its Chinese gambling operations, but has shaved $1 million from the funder's proposed commission.
The Victorian Gambling and Casino Control Commission has commenced disciplinary proceedings against Crown Melbourne after a royal commission found the casino operator enabled the illegal transfer of funds from China.
The financial crimes watchdog has brought enforcement action against Crown Mebourne and Crown Perth for what it describe as widespread and serious non-compliance of anti-money laundering and counter terrorism laws.
The lawyers and funder behind a shareholder class action against Crown Resorts will be asking the court to approve fees and commission worth 35 per cent of a $125 million settlement with the gaming giant, leaving over $81 million for group members.
A judge has directed that the legal fees and funding commission sought to be deducted from a $125 million class action settlement with Crown Resorts be included in a proposed notice to shareholders, after learning that group members were forced to click through to Maurice Blackburn's website to find the "critical" figures.
Crown Resorts has reached a $125 million settlement in a shareholder class action, avoiding a six-week trial scheduled to begin on Monday.
MinterEllison and Crown Resort's internal lawyers were partially at fault for misconduct unearthed in a damning Royal Commission report into the casino operator because they failed to ask whether certain actions were moral as well as legal, the commissioner has found.
Crown Resorts has avoided having its casino licence stripped, for now, with a Victorian Royal Commission giving the casino operator two years to clean up its act after finding it failed to prevent "illegal, dishonest, unethical and exploitative" conduct.