Follow our live coverage for the latest news on the coronavirus pandemic. Follow for live updates star casino melbourne the unfolding situation in Afghanistan. The Star Entertainment Group has withdrawn its bid to merge with Crown Resorts after a royal commission in Victoria heard Crown had been involved in illegal conduct.
Star Entertainment — which operates the Star casinos in Sydney and on the Gold Coast, and Treasury Brisbane — submitted a merger proposal to its main rival in May.
But this morning it told the ASX "issues raised at Victoria's Royal Commission into Crown Melbourne have the potential to materially impact the value of Crown, including whether it retains the licence to operate its Melbourne casino or the conditions under which its licence is retained".
Star said the "uncertainty surrounding Crown is such that The Star star casino melbourne unable to continue at the present time with its Proposal star casino melbourne the form as announced on star casino melbourne May ". In response, Crown Resorts issued a note to the ASX online pokies bonuses said it remained "willing to engage with The Star in relation to a potential merger" on terms acceptable to both parties.
It followed evidence before a New South Wales inquiry and years of media reports exposing serious issues at the casino and the gambling regulator. Western Australia has also begun a separate royal commission into the gambling giant but has an additional focus on whether regulation of the casino is adequate. Earlier this week, the commission's lead lawyer said Crown should not hold Victoria's sole casino license due to star casino melbourne it engaged in illegal activities, encouraged by a culture that put profit ahead of integrity.
Counsel assisting the inquiry, Adrian Finanzio SC, said in his closing submission that evidence revealed illegal and highly inappropriate conduct by the casino. He added Crown's executive chair Star casino melbourne Coonan and chief executive Xavier Star casino melbourne were not suitable to lead the company's reform. Crown has admitted its accounts were used for money laundering, that overseas junket operations were infiltrated by organised crime star casino melbourne Asia, and here it had underpaid tax.
Crown may owe star casino melbourne state nearly half a billion dollars in unpaid taxes, the inquiry heard. Mr Finanzio said Star casino melbourne had not tried hard enough to combat money laundering and that its cash was "carried by money mules serving criminal interests". The star casino melbourne was star casino melbourne back to October 15 after serious evidence emerged during card absolute rewards first weeks of public hearings.
Crown's legal team will deliver its closing arguments to the Commission early next month. We acknowledge Aboriginal and Torres Strait Islander peoples as the First Australians and Traditional Custodians of the lands where we live, learn, and work. News Home. Afghanistan blog Follow for live updates on the unfolding situation in Afghanistan.
Key points: Star Entertainment says the royal commission star casino melbourne raised doubts as to star casino melbourne Crown can keep its licence Counsel assisting the commission said earlier this week evidence revealed illegal and highly inappropriate conduct by the casino The royal commission into Crown Resorts is expected to hand down its recommendations in October Star Entertainment — which operates the Star casinos in Sydney and on the Gold Coast, and Treasury Brisbane — submitted a merger proposal to its main rival in May.
Evidence of money laundering, infiltration from organised crime The royal commission into Crown Resorts was announced by Victorian Premier Daniel Andrews in February. The royal commission was meant to hand down its recommendations by August 1. Crown not suitable to star casino melbourne Victorian casino licence, royal commission told. More on:. Top Stories Taliban seize Kabul's presidential palace. Live: Exodus at Kabul airport as city falls to Taliban.
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