By Stuart Condie


SYDNEY--Blackstone's Crown Resorts agreed to a penalty of 450 million Australian dollars (US$294.2 million) over breaches of anti-money laundering and counter-terrorism laws prior to the casino operator's acquisition by the U.S. asset manager.

Crown and the Australian government's financial transactions regulator agreed to the penalty over issues that included failing to conduct appropriate checks on certain gamblers and failing to appropriately assess money-laundering risks, the Australian Transaction Reports and Analysis Centre said Tuesday.

"A range of obviously high-risk practices, behaviors and customer relationships were allowed to continue unchecked for many years," Austrac Chief Executive Nicole Rose said.

Australia's Federal Court will decide whether to approve the penalty in July.

Blackstone acquired the beleaguered Crown, one of Australia's two largest casino operators, in June 2022. Three Australian states had also conducted inquiries into Crown's conduct, while the Covid-19 pandemic prompted border restrictions that reduced visits from lucrative high rollers.


Write to Stuart Condie at


(END) Dow Jones Newswires

May 30, 2023 02:57 ET (06:57 GMT)

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