Victoria’s casino regulator stated it was ”actively monitoring” an investigation by Taiwanese authorities into Crown Ltd’s Asian joint venture, Melco Crown, since it critiques the suitability of James Packer’s casino operator to hold its licence for the Melbourne casino.

The Victorian Commission for Gambling and Liquor Regulation is midway by means of its mandatory overview, which it conducts every five years, to ascertain no matter if Crown continues to be ”a suitable individual to continue to hold the casino licence”.

Melco Crown has been embroiled in an investigation by Taiwan authorities into allegations that a subsidiary illegally circumvented the country’s tight foreign exchange controls to enable higher rollers to funnel $170 million of gambling funds to Macau.

The head of Melco Crown subsidiary MCE International was questioned by Taiwanese prosecutors and released on bail last week.
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”The Victorian Commission for Gambling and Liquor Regulation is aware of media reports of an investigation by Taiwanese authorities into MCE International Ltd and is actively monitoring the circumstance,” said a spokeswoman for the regulator.

The VCGLR is as a result of complete the overview and report its findings to the Minister for Gaming by June 30.

The regulator stated the deadline wouldn’t be pushed back by any possible developments in Taiwan.

The spokeswoman stated monitoring the casino was a continuing function plus the VCGLR has broad powers by law ”to commence an investigation into the casino operator at any time”.

In its submission to the commission in October, Crown stated it ”has an excellent probity record and is just not aware of any difficulties or investigations that could jeopardise its suitability to hold a casino licence”.

The New South Wales casino regulator would not comment within the Taiwan investigation or no matter if it was getting monitored as it completed its very own probity check of Crown, that is searching for to lift its stake in rival casino operator, Echo Entertainment, above ten per cent.

Mr Packer is actively campaigning to get a second casino licence in Sydney to underpin the economic viability of a luxury hotel he is arranging to create in the Sydney Harbour development, Barangaroo.

The Independent Liquor and Gaming Authority stated it couldn’t comment to the Barangaroo proposal ”as it has no involvement. It has only been asked to consider Crown’s application to enhance its shareholding in Echo Entertainment beyond ten per cent.”

Based on reports from Taiwan, the nation has for several decades been concerned in regards to the transfer of money offshore by its citizens in order to gamble.

Nearby reports quote a press release from the Taipei Independent Commission Against Corruption that alleges that a corporation, later identified as MCE, had violated Taiwan’s banking law by operating a foreign-exchange organization seeing that 2008.

Unauthorised income changers can face prison sentences of up to ten years.