Your Daily Asia Gaming eBrief: Australian judge slams AUSTRAC on Crown case

Wednesday 15th of February 2023

Good morning. So many results out, but first to the juicy bits. An Australian Federal Court judge has slammed AUSTRAC for its delays in prosecuting Crown. The 18-month period granted for the defense calls into question how long The Star and SkyCity's cases could be delayed. SkyCity has, meanwhile, seen a 167 percent profit increase in fiscal 1H23, despite still incurring losses. Universal Entertainment, meanwhile saw its 2022 sales nearly equally split between Okada Manila and its Pachislot arm. And in Singapore, Marina Bay Sands needs to urgently negotiate for a construction date extension, or face serious consequences.

What you need to know

Australia Federal Court judge says that the financial crimes watchdog is dragging its feet on the Crown case.
SkyCity sees 167 percent increase in profit during 1H23, warns AUSTRAC proceedings could take up to 2 years.
Universal Entertainment sees strong 2022 sales results, split between its IR and Pachislots operations.
MBS to be in breach of expansion project agreement if it can’t renegotiate with Singapore before the April deadline.

On the radar

Grand Korea Leisure sees strong uptick in 4Q22 sales, loss increases.
Study: Macau among top 10 destinations for mainland Chinese/HK travelers.
AirAsia resumes Macau flights, targets connecting China market.
Taiwan fully reopens for Hong Kong and Macau visitors from February 20th.

AGB Intelligence

CROWN AUSTRAC CASE

Federal Court judge says AUSTRAC dragging feet in Crown case

An Australian Federal Court judge has slammed Australia's financial crimes watchdog for dragging its feet in its case against Crown. The judge says the 18-month period before defense is heard is longer than it took to reform Europe after Napoleon. The drawn-out case also has strong implications for The Star and SkyCity, who are facing similar proceedings.