Tag Archives: crown resorts

Genting sells out of The Star; is Crown buying in?
July 14, 2017
Malaysian casino operator Genting has sold its stake in Australian casino operator The Star Entertainment Group, as rumors swirl that The Star is prepping some kind of union with local rival Crown Resorts. On Thursday, the Australian Financial Review reported that Genting had sold its 5.62% stake in The Star,...
10 Crown Resorts staffers walk out of Chinese jail
July 12, 2017
Authorities in China have released 10 staff members of Australian casino operator Crown Resorts on Wednesday, less than a year after they were arrested for promoting gambling in the Asian country. Four employees, including Australian nationals Jerry Xuan and Pan Dan, were the first to emerge from a Shanghai detention...
Court: Chinese VIPs lost over $600M in Crown Resorts casinos
July 10, 2017
New details have emerged in the Shanghai trial that saw 18 Crown staffers, including three Australians, face short jail terms in China. The Australian Financial Review obtained a copy of the written judgment by the Shanghai Baoshan district court, which stated that the Australian casino operator issued A$38.5 billion (US$29.26...
China lashing out at Crown is China’s problem, not Crown’s
June 27, 2017
The Crown Resorts executives who got arrested last October for telling rich Chinese people that they could gamble in Australia, have been sentenced. Practically, they will be released in a few weeks. Lesson learned. Companies that hold their money in other countries best watch out. Beijing wants to keep money...
Crown Resorts staffers face jail time for promoting gambling in China
June 26, 2017
The lengthy probe into how Crown Resorts lured Chinese high-rollers to its casinos ended in a quick-fire trial on Monday, with a Chinese court handing short jail terms to the operator's Australian staffers. Multiple media outlets reported that the Baoshan District Court gave Jason O'Connor, Crown's head of international VIP...
Robert Rankin leaves Crown Resorts group
June 22, 2017
Another executive has left James Packer’s beleaguered Crown Resorts casino group. On Wednesday, the Australian casino operator announced that Robert Rankin had resigned as a director of Crown Resorts. Rankin previously served as chairman of Crown Resorts, but stepped down from his position in January. Rankin was replaced by John...