A New Report Sends Crown Perth on a 2-Year Pathway to Suitability

A probe into Crown Perth’s business completed by the Perth Casino Royal Commission (PCRC) in Australia deemed the company not suitable to hold a license. However, the Commission decided to grant Crown Perth the possibility to remedy its shortcomings for a period of two years instead of proposing license revocation. During that time, Crown Perth will be monitored by an independent auditor.

Crown Perth to Remedy Shortcomings, ReportOn Thursday, the Perth Casino Royal Commission released its final report regarding Crown Perth. After investigating all aspects of casino operations, the Commission concluded that “each of Burswood Nominees Ltd, Crown Resorts Limited, Burswood Limited and Burswood Resort (Management) Limited is not a “suitable person” to be concerned in or associated with the organization and conduct of gaming operations of a licensed casino.” Additionally, the report found that Burswood Nominees Ltd was deemed not suitable to continue to hold a gaming 안전 스포츠사이트 추천 license for Perth Casino.

“We determined that in order to become suitable each entity would be required to embark on a pathway to suitability, with their remediation activities overseen by an independent monitor,”

reads the report released by the Perth Casino Royal CommissionHowever, instead of license revocation, the report proposed changes that would make each of the organizations suitable once again. According to the white paper, the process to remedy the shortcomings would take approximately two years. An independent audit firm will monitor the organizations during that time and in the end, it will present an official report to the Gaming and Wagering Commission.

The Report Finds Multiple Failures at Perth CasinoThe recently released report revealed that it found Crown Resorts had failures related to anti-money laundering (AML). For Perth Casino, such failures included “facilitating money laundering through the Riverbank accounts.” Moreover, the report stated that the venue permitted business with junkets that were possibly linked to criminal organizations. Crown Resorts also failed to implement an efficient AML program or ensure detecting of transactions suspected of money laundering, according to the report.

Perth Casino had multiple deficiencies related to reducing gambling harm. According to the new report, the venue implemented changes to the speed of play for electronic gaming machines without investigating what effect that change may have on gambling harm. Last but not least, Perth Casino failed “to be open and accountable in communications with the Gaming and Wagering Commission about various matters.”

The Regulator Contributed Negatively, Says the ReportOverall, the PCRC listed 59 recommendations for the government, the gambling regulator as well as Crown Resorts. Despite the many described failures, the report revealed that it has seen Perth Casino has completed “numerous remediation activities” in the last two years. Still, the property needs to put in additional efforts to strengthen its AML, gambling harm and risk management policies.

Surprisingly, the Gaming and Wagering Commission, contributed negatively by failing to exercise the responsibilities within its power, according to the report. That negative impact was further fueled by the Department of Local Government, Sport and Cultural Industries that “contributed to these failures by not adequately supporting the Gaming and Wagering Commission.”

Atlantic City Taxpayers Could Be Afforded Reduced Property Tax if Sports Betting Bill Passes

Atlantic City officials have long voiced their frustration with the fact that local residents do not directly benefit from legal sports betting occurring in their town.
Legal sports betting in New Jersey began in June of 2018 less than a month after the US Supreme Court struck down the federal law that had previously banned such gambling outside of Nevada. Mobile operations went live that August.
Gross gaming revenue (GGR) from sports betting 맥스벳 is subject to an 8.5% tax on in-person bets. Online sportsbook revenue is taxed higher at 13%.

Sportsbook income — regardless of where it originates — is additionally subjectto a 1.25% add-on tax. That money is currently earmarked for the Casino Reinvestment Development Authority (CRDA). The CRDA funds are to “be used exclusively for tourism and marketing programs for the City of Atlantic City.”
The 1.25% sports betting tax equated to approximately $3.8 million last year for the CRDA.

Senate Bill 854 seeks to reallocate the 1.25% directly to Atlantic City. If the legislation passes and is signed by New Jersey Governor Phil Murphy (D), the money would be used to lower property taxes for city residents. Sen. Troy Singleton (D-Moorestown) is the primary sponsor.

SB854 narrowly passed the Senate Budget and Appropriations Committee today by a 3-2 vote. It now moves to the full Senate for additional consideration.
Something for the PeopleAtlantic City Mayor Marty Small Sr. (D) has been adamant since taking office in the fall of 2019 that his constituents deserve a piece of the sports betting pie. The politician, who won his first full four-year term in November, points out that none of the various supplemental add-on taxes guests incur at Atlantic City resorts benefit Atlantic City residents.

Small highlighted the fact that the parking tax, food and beverage tax, hotel occupancy tax, and sports betting tax all go towards either the state or CRDA — not Atlantic City’s coffers.

When are we going to get our slice of the pie?” Small recently questioned.
Host towns outside of Atlantic City where retail sports betting operates are afforded some financial benefit. East Rutherford, home to the Meadowlands’ FanDuel Sportsbook, receives 0.75% of the sports betting income. Oceanport, home of Monmouth Park’s Caesars Sportsbook, collects 0.5% of the sportsbook GGR.

Atlantic City ControlAtlantic City was placed under state control in 2016 as it faced bankruptcy. Then-Gov. Chris Christie (R) and the Democratic-controlled Legislature voted to assume fiscal control of the casino town as its finances spiraled into disarray because of the closings of four casinos between 2014 through that year.

Last June, current Gov. Phil Murphy (D) extended the state takeover for an additional four years. The takeover gives Trenton most decision-making powers regarding Atlantic City’s governance.

New Jersey lawmakers added on the 1.25% sports betting tax through legislation passed in 2018 and signed by Murphy. Instead of cutting Atlantic City into the 1.25% sports betting tax as a beneficiary, lawmakers opted to redirect the town’s share to the CRDA due to its remaining under state oversight.