Australian Crown Resorts Employees Arrested in China

Last month, a newspaper report revealed how Australia’s casino industry was benefitting from an uptick in Asian traffic following China’s anti-corruption campaign, with visitors doubling between 2015 and 2016, and Asian high-rollers representing a staggering 95% of the casinos’ VIP segment.
Amongst the beneficiaries was undoubtedly Crown Resorts Limited, one of Australia’s biggest gaming and entertainment companies with the multi-billion dollar business owning Melbourne’s Crown Casino in the south-east of the country, as well as Crown Perth in the west. However, on Friday the company’s share price fell sharply, with the decline continuing today after 18 members of its staff in China were arrested for “gambling crimes”, and on suspicion of enticing Chinese citizens to travel and gamble overseas.
As a result, share in Crown Resorts Ltd are currently trading down 13.9% at $11.15, and the company faces further future uncertainty as it is now forced to reassess its ‘international business’ model which had been targeting Chinese gamblers. Elaborating on the situation, Raymond Chan, managing director of Morgans stockbroker, alluded to the “new layer of regulatory risk” now facing Crown, with Citi analyst Rohan Sundram also now having reduced his price target for the company, stating:
“As a result, we have lowered our near-term VIP growth outlook for Crown and now forecast an 8 per cent year-on-year decline in VIP revenue 2017, from a previous forecast of a 3.5 per cent increase.”
In the meantime, the list of arrested employees includes Crown Resort’s Executive General Manager of international VIP services Jason O’Connor, who headed a program to bring overseas ‘high rollers’ to the Crown Casino. Commenting on the widespread arrests, a statement from the Australian department of foreign affairs said:
“Chinese authorities have three days in which to notify of the detention of Australians according to the terms of a bilateral consular treaty. Consular officials will seek to offer appropriate consular assistance to the detained Australians.”


Poker News
Japan Introduces Responsible Gambling Bill
28 May 2018
Japan’s bicameral legislature, known as The National Diet, consists of an upper House of Councillors and a lower House of Representatives, with the latter having started discussing the Integrated Resorts Implementation Bill last week. Being debated is the regulatory framework required in order to set up an efficient and well functioning casino market in the
Ohio Casino Revenue Up 1% to $71.8m in April
17 May 2018
The Ohio Casino Control Commission has released its gambling results for April, with the state’s four casinos collecting $71.8 million last month, up by almost 1% compared to the prior year. Meanwhile, the Buckeye State’s seven racinos fared considerably better, with their revenue rising by 8% to $89.7 million from their slots and video gaming
NJ Generates Record iGaming Revenues in February
15 May 2018
In April, New Jersey’s online gambling market saw its revenue rise by 10.6% to $23 million versus the same month in 2017, with the amount posted second only to the record $25.6 million collected in March 2018. As a result, the Garden State has now generated $92.5 million over the first four months of this
Virginia Poised For Historical Gambling Expansion
11 May 2018
Virginia is among the country’s more conservative states when it comes to gambling, and for many decades has resisted the allure and revenues that the industry might bring. In the 1990s, for instance, its legislature turned down a push for riverboat gambling, and the following decade Internet gambling cafes were outlawed. For the past five