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Why The Crown (ASX:CWN) Share Price Fell 3%

Jaz Harrison
Jaz Harrison
Jaz Harrison

Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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The Crown Resorts Ltd (ASX: CWN) share price dropped 3% on Monday after some bad publicity over the weekend.

Crown Resorts is one of Australia’s largest gaming and entertainment groups. It operates two integrated resorts in Melbourne and Perth. Crown also fully owns and operates Crown Aspinalls in London, one of the high-end licensed casinos in the West End entertainment district. It is currently developing Crown Sydney at Barangaroo.

Crown Linked To Chinese Crimes?

Nine Entertainment Co Holdings Ltd’s (ASX: NEC) 60 Minutes and reporting in Nine’s newspapers The Age and The Sydney Morning Herald reported on allegations of links between organised crime and the ‘junket operators’ that bring Chinese gamblers to Crown’s casinos.

The Australian Financial Review reported that these ‘junket operators’ are thoroughly vetted by the company and regulators, and the police is important to help identify problems.

Until these allegations are countered by Crown, there will be questions hanging over the casino operator. On the one hand Crown has a promising future with Crown Sydney being built, but there is also a question about some of these VIP players.

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