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Crown Resorts has agreed to ban cash from its casinos in Sydney, Melbourne and Perth in an effort to stop criminals from laundering drug money and other ill-gotten gains on its gaming tables.
The ban helps pave the way for Crown to finally open the casino at its new $2.2 billion tower in Sydney this year, after the James Packer-backed group had its licence suspended last year after evidence emerged of money laundering at its Melbourne and Perth casinos.
The NSW Bergin inquiry found that this footage of large amounts of cash being exchanged at Crown Melbourne was probably money laundering.
Australian takeover target Crown Resorts has committed to end international gambling tours - or "junket" operations - and switch to cashless operations in its casinos, the gaming regulator of the country's biggest state said Thursday.
Australian takeover target Crown Resorts (CWN.AX) has committed to end international gambling tours, or "junket" operations, and go cashless in its casinos, the gaming regulator in the country's biggest state said on Thursday.
Cash ban at NSW casinos, starting with Crownâs Barangaroo
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Crown Resorts has agreed to ban cash from its Sydney casino to stymie criminals from money laundering on its gaming tables and poker machines.
The Star group is expected to follow suit at its Sydney casino, but no timeline has been reached.
Crownâs casino at Barangaroo in Sydney.Â
Both Crown and The Star have also agreed with the NSW gaming regulator that they will stop all international junket operations.
The cash ban applies to Crownâs new $2.2 billion Barangaroo casino in Sydney, where all gaming would be âcashless with card technology linked to identity and a recognised financial institutionâ, the NSW gaming regulator said.