Crown casinos suffered a major profit slump for the year. It came after a documentary connected the casinos to money laundering and organized crime. However, Chief Executive John Alexander insisted his company complies with all of state and Australian laws.
The casinos’ profits dropped 4.7 percent to $369 million. Crown Resorts said the major profit slump came from lower junket revenues. Also, these junkets were the focus of the documentary connecting Crown Resorts to Chinese crime syndicates. There were allegations that the casino firm tolerated sex trafficking and money laundering.
The company told sportsbook outsourcing insiders that it is planning to reduce its reliance on junket operators. Junkets bring in high rollers who enjoy the casino’s VIP gambling services. However, investigators found proof of illegal activities involving the casino and junket operators. The company denied all claims.
Major Profit Slump
It is the first time the chief executive spoke after the airing of the documentary. Alexander told the best bookie pay per head that they brought in an independent regulator. In fact, Neil Jeans from Initialism said Crown Resorts was a gold star customer.
The casino industry is a highly regulated industry. It undergoes regular review and monitoring from regulators. Alexander said that Crown is actively monitoring all activities in its casinos.
In addition, Alexander claimed the recent documentary was unfair. It was made to tarnish the company’s reputation. As a result, various agencies and regulators started inquiries into the allegations.
He maintained that Crown has zero-tolerance to illegal activities. This should also be your mantra when you start a bookie business. Make sure you are operating within the law of the state or the country. When creating an online sportsbook, be sure to check the bookie pay per head features. This is the best way to finding the right bookie PPH provider.