Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Money

Investigation into Australia’s Crown Resorts deepens

Published

on

Australia’s financial crimes watchdog has widened its investigation into Crown Resorts.

The watchdog uncovered potential breaches of anti-money laundering laws at Crown’s Perth casino.

Crown Resorts’ also admitted on Monday that it broke Victorian law for five years at its flagship Melbourne casino and confirmed the financial crimes watchdog has launched a second probe into money laundering at its Burswood casino following revelations at the West Australian royal commission.

An October probe triggered an 8 percent crash in Crown’s share price, wiping $500 million from the company’s value.

Crowns Resorts says it’s “continuing investigations into these matters, including whether it may have breached other laws”.

Rival casino operators The Star and SkyCity also told the market the watchdog AUSTRAC had launched an investigation into financial crimes at their casinos for possible breaches of anti-money laundering and counter-terrorism financing laws.

Australian Watchdogs Step Up Investigations

Meanwhile, SkyCity Adelaide is also being investigated for potential breaches.

And one of Australia’s big four banks, NAB has also been referred to AUS-TRAC for “potential serious and ongoing non-compliance” with anti-money laundering laws.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Money

Warner Brothers & Discovery considers splitting up to boost stock value

Published

on

Warner Bros Discovery is considering a strategic breakup to enhance its stock performance, according to a Financial Times report.

The potential move aims to unlock value by separating its media assets from its reality TV and lifestyle businesses.

This decision follows pressure from investors to improve stock performance, amidst challenges in the media industry #featured #trending

Continue Reading

Money

Investors worldwide grow increasingly optimistic about Trump winning the election

Published

on

Investors are increasingly optimistic about Donald Trump’s potential re-election, prompting a resurgence in the so-called ‘Trump trade’.

Market participants are closely monitoring Trump’s political strategies and public sentiment, influencing their investment decisions.

Kyle Rodda from Captial.com joins to discuss all the latest.

Continue Reading

Money

Netflix expands use of ads despite slow subscriber growth

Published

on

Netflix is intensifying its efforts to introduce an ad-supported tier amidst a plateau in subscriber growth.

The streaming giant hopes to attract new users and boost revenue by offering a cheaper alternative that includes advertisements.

This move marks a significant shift from its traditional ad-free model, reflecting Netflix’s response to competitive pressures and evolving consumer preferences.

Continue Reading

Trending Now