Crown Casino Management Agreement

One. The State and the company entered into an agreement of 20 September 1993, which was ratified and is provided for in the Casino Agreement Act 1993 (“Management Agreement”). As part of our current regulatory oversight of Crown, we are required to conduct a casino operator audit every five years. Each audit contains recommendations that Crown must implement. We then monitor and evaluate Crown`s implementation of these recommendations. Our organization, other regulators and law enforcement are aware of the potential risks of money laundering and other criminal activities in casinos, including through junket operations. We work collaboratively and proactively with other regulators and law enforcement to ensure that the casino is free from criminal influence. We have formal information exchange agreements with the Victorian Police and the Australian Transaction Reports and Analysis Centre (AUSTRAC). AUSTRAC is Australia`s financial intelligence unit and regulator of anti-money laundering and counter-terrorism financing.

(b) where, in accordance with clauses 22.1 (iii), 22.1 (f) and 22A.1, the deposit of the casino tax to the State is less than USD 35,000,000 during the guarantee period, the entity shall pay to the State within sixty days from the end of that financial year; as an additional tax on the casino, an amount of US$35,000,000 less tax on the casino, which was paid in terms of gross gaming revenue and players` gaming revenue based on commissions on the new gaming product for this fiscal year. While we regulate Crown`s implementation of internal systems and controls to ensure that the management and operation of the casino remains free from criminal influence, allegations of money laundering and terrorist financing are a matter for regulators and law enforcement such as AUSTRAC and the Federal Police. A partner is a person who holds or has relevant financial interests, who has the right to exercise a relevant power or who is able to exercise significant influence over the management or operation of the casino. A junket operator is an individual or organization that promotes and introduces a person or group of people to play at a casino. Junket operators receive a commission based on the turnover of the game at the casino.

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Author: swillans