crown shares dive as china detains highroller chief
Last Updated : GMT 05:21:58
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 05:21:58
Arab Today, arab today

In charge of luring high-rollers to Australia

Crown shares dive as China detains high-roller chief

Arab Today, arab today

Arab Today, arab today Crown shares dive as China detains high-roller chief

Crown Casino and Entertainment Complex, on the south bank
Sydney - Arab Today

Shares in billionaire James Packer's Crown Resorts plunged Monday after 18 sales and marketing staff were detained in China, including an executive in charge of luring high-rollers to Australia.

The gaming company's stock fell 13.9 percent to close in Sydney at Aus$11.15.

It followed news that three Australians were among those hauled in for questioning by Chinese authorities on Thursday and Friday last week, with the company unable to contact them.

"In relation to media reports on the weekend, Crown Resorts Limited believes that Crown's executive vice president VIP International, Jason O'Connor, is one of 18 Crown employees that have been detained by Chinese authorities," the company said in a statement Monday.

"To date, Crown has not been able to speak with its employees and is working closely with the Department of Foreign Affairs and Trade to urgently make contact with and ascertain the welfare of its employees.

"Crown is yet to be provided with details of why its employees have been detained."

China's foreign ministry said in a statement to AFP that Australian nationals had been "criminally detained by Chinese authorities for suspected gambling offences". 

"The case is under investigation," it added.

The Australian Broadcasting Corporation said it understood they were seized over soliciting Chinese high-rollers to gamble in overseas casinos.

The Australian Financial Review reported they may have been targeted as part of "Operation Chain Break", aimed at stopping the illicit flow of funds into foreign casinos.

Gaming companies are not allowed to explicitly advertise gambling in China.

The newspaper said police raided houses in Shanghai, Beijing, Guangzhou and Chengdu.

Australian Foreign Minister Julie Bishop said the government had been notified of the detention in Shanghai of three Australians among a number of Crown employees held across China.

Consular officials were making "arrangements to visit the Australians to offer appropriate assistance, all of whom have legal representation provided by their employer", Bishop said in a statement. 

"The Australian Government is also providing consular support and information to the families in Australia, in consultation with Crown."

Crown operates casinos across Australia and the world, including in Macau, where revenues have been hit hard by a Chinese corruption crackdown which has driven away many big-spenders.

Macau gaming companies listed in Hong Kong's stock exchange also tumbled on the news, with Sands Macau and Galaxy Entertainment more than three percent down Monday.

Graft has become endemic in China and President Xi Jinping launched a much-publicised anti-corruption drive after he came to power in 2012.

Packer, who is engaged to pop diva Mariah Carey, owns 53 percent of Crown Resorts but resigned as chairman in 2015.

Sourc: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

crown shares dive as china detains highroller chief crown shares dive as china detains highroller chief

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

crown shares dive as china detains highroller chief crown shares dive as china detains highroller chief

 



Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation

GMT 12:28 2018 Saturday ,06 January

Bonobos prefer bullies over 'nice guys'

GMT 07:56 2018 Wednesday ,10 January

Ukrainian court arrests suspect over lawyer murder

GMT 21:31 2017 Monday ,28 August

Train traffic on Cairo-Alexandria line normal

GMT 10:05 2018 Friday ,19 January

Lebanon reverses ban on Spielberg's 'The Post'

GMT 23:21 2018 Monday ,08 January

PM dispels remours about any kind of NRO

GMT 21:25 2016 Tuesday ,06 September

Explosion rocks Kabul

GMT 16:41 2017 Monday ,16 January

Japan to supply new patrol boats to Vietnam
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday