Crown Perth Under Scrutiny For Loan Sharking On Casino Floor
Crown Resorts is under threat of losing its casino licenses in Melbourne and Perth. The Australian casino operator had its A$2.2 billion Barangaroo Casino license revoked after a New South Wales (NSW) investigation showed that Crown Resorts had committed multiple violations at its casinos which included money laundering and failure to implement responsible gambling measures.
Crown Perth Investigation Reveals Serious Concerns
The NSW investigation prompted regulators in Victoria and Western Australia to launch their own independent investigations. The Perth Casino Royal Commission investigation into Crown Perth has also thrown up some serious issues. One of those issues is the prevalence of loan sharking on the casino floor.
Casino loan sharks are individuals who walk the casino floor and keep a close watch on players who are losing a lot of money. When the player ends up losing their bankroll and does not have any more to spend, the loan shark usually approaches in the guise of a friend and offers to loan the player money which they can pay back later.
The unsuspecting player usually falls for the smooth talk of the loan shark and ends up considering them a friend. They accept the money and more often than not end up losing that money as well.
It is then that the loan shark reveals their true identity and asks them to pay up the outstanding money with interest or face serious consequences which include death threats. Loans sharking is usually carried out be a criminal syndicate who will use violence to get back their money with interest which can sometimes be as much as 50 percent on the loaned amount.
Financial Counselling Australia (FCA) has reported multiple complaints over loan sharking at Crown Perth or near the casino. The investigation shows that Crown Perth has not done enough to stop loan sharking from taking place at its premises. The FCA stated that casinos should not provide credit to their players and turning a blind eye to loan sharing to take place at their premises was a deliberate attempt to not protect their players.
The investigation into Crown Perth continues and the findings continue to tarnish Crown’s reputation.
Crown Melbourne Also In Trouble
Some of the findings from the Crown Melbourne investigation have shocked the public as it showed that Crown Melbourne had deliberately underreported its taxes and underpaid the Australian Tax Office (ATO) by over $200 million over the years. Crown Melbourne could end up losing their license as their breaches are a lot more serious than the ones at Crown Perth.