Crown Resorts Exec Rumored to Have Been Collecting Debts When Arrested

March 10, 2020 at 11:41 am

Crown Resorts Exec Rumored to Have Been Collecting Debts When Arrested

Crown Resorts professional Jason O’Connor is rumored to own held it’s place in Asia last fall to collect on VIP gambling debts incurred by patrons whom participated in the Australian gaming organization’s junket schemes.

Billionaire James Packer announced this that Crown Resorts will purchase $380 million in outstanding shares week. Meanwhile, his executive responsible for VIP operations remains behind bars in Asia.

That’s in accordance with a report that is new ‘Four Corners,’ a journalism television show that airs in Australia. The system talked to experts on Macau gambling that said they believe O’Connor was sent by Crown to negotiate money owed to your business by wealthy citizens that are chinese.

Andrew Scott, the CEO of Asian Gambling mag, said, ‘It’s commonly being said he was there to collect line of credit. You don’t send a senior executive unless there’s an actual reason for him become there.’

O’Connor headed Crown Resorts’ VIP system, and was in charge of bringing high rollers from parts of asia to Australia.

It’s illegal for international properties to market gambling services to Chinese citizens. The united states warned companies like Crown it would be cracking down on VIP touring operations, however the notice evidently dropped on deaf ears right here. O’Connor has been in custody since October on vague ‘gambling crimes’ charges. He’s being held in a Shanghai jail while Chinese law enforcement agencies continue their research.

In addition to O’Connor, China detained 17 other Crown employees, two more whom are Australian residents.

Arrest Impact

China’s Operation Chain Break ended up being designed to infiltrate the laundering of money moving through Macau, the special region that is administrative gambling is allowed. But the scope of this investigation expanded overseas after enforcement officers detected casinos and junket operators colluding to bring wealthy citizens to resorts that are international.

Since China is just a socialist country, those who have money are heavily taxed. Under present law, residents cannot go more than $9,500 out from the country each year.

With O’Connor behind bars, Crown’s VIP company plummeted a lot more than 45 percent.

Crown founder James Packer, who sold 35 million shares of the company’s stock valued at $338 million August that is last the board in a damage control effort. The billionaire is still the largest shareholder, today owning 48.2 percent.

While Packer and Crown continue to get results in today’s world with China, there are new concerns that the business’s gaming licenses in Australia could be in jeopardy if those being held in Shanghai are convicted of crimes.

Former NSW Independent Liquor and Gaming Authority Chairman Chris Sidoti opined recently that regulators in Australia will review Crown’s likely permits. Disciplinary actions could range from an easy slap in the wrist up to a complete elimination of their gambling licenses, since it would be based on China’s investigation though he admits the latter seems extreme.

Share Buyback

While you will find many dark clouds surrounding Crown, the company announced this week it will buy AUD$500 million ($380 million) worth of outstanding shares on March 20. The buy-back shall be finished according to the stock’s Australian Securities Exchange closing price on March 3 ($8.83).

Crown happens to be undergoing a restructuring that is massive the arrests, however the buyback seems to tell investors that Packer remains bullish regarding the company he founded ten years ago.

MGM Cheering on Casino Expansion Opposition Group in Connecticut

MGM Resorts is rooting for casino expansion opponents in Connecticut to succeed in blocking a third gambling location in the small state that is northeastern.

MGM Resorts CEO Jim Murren wants to be sure a Connecticut casino isn’t permitted to be built just 13 miles south of his organization’s resort in Massachusetts. (Image: WAMC)

Late last week, the Mohegan and Mashantucket tribes of Connecticut (MMCT) officially signed a development agreement with East Windsor to create a $350 million satellite gambling facility within the town. The project will compliment the Native American groups’ Foxwoods and Mohegan Sun resorts.

Situated just 13 kilometers south of MGM’s $950 million Springfield casino in Massachusetts, which is now expected to open in 2018, Connecticut opted to permit the MMCT group to create a casino on off-reservation land in order to keep money that is gambling the state. But ‘No More Casinos in Connecticut’ is working to block the expansion, and MGM would like nothing more than to see the group succeed.

Tonight, ‘No More Casinos in Connecticut’ is keeping a meeting in East Windsor to discuss the ‘social and costs that are economic of inviting a casino to the area. Former US Rep. Robert Steele (R-Connecticut) will provide his opinion that gambling is not good for communities.

Numerous Concerns Remain

Connecticut’s Attorney General George Jepsen happens to be expected by Governor Dannel Malloy (D) to weigh in on the legality of allowing the unified tribal groups to create a gambling establishment on non-sovereign grounds.

Under the scheme manufactured by the continuing state legislature and Malloy, Connecticut granted MMCT because of the right to develop another casino under their current gaming licenses. MGM says since the planned gambling venue isn’t on sovereign property, outside events must have been in a position to bid on the satellite location.

The Nevada-based casino conglomerate has filed a lawsuit against Connecticut for what it believes is a violation for the US Constitution’s Fourteenth Amendment. The clause mandates that no state ‘shall deny to virtually any person within its jurisdiction the equal protection associated with the legislation.’

MGM has been on a spending spree as of late. The company recently opened the $1.4 billion National Harbor resort outside Washington, DC, and is reportedly in talks with Las Vegas Sands to buy its casino in Pennsylvania in addition to buying out Boyd Gaming’s share of the Borgata in Atlantic City.

Scare Tactics

There is more than three million reasons why East Windsor desires the MMCT casino. The city appears to receive $3 million up front from the groups that are tribal plus a minimum of $3 million annually thereafter.

Considering East Windsor hosts about 11,500 residents, that comes to roughly $260 per person, per 12 months.

‘No More Casinos in Connecticut’ will try and paint a picture that is dark this evening’s hearing. One of the organization’s 12 known reasons for opposing casino growth, the group claims gambling ‘leads to debt, bankruptcies, broken families, and embezzlement,’ and that a casino’s company model ‘is dependent upon preying on people.’

The East Windsor Board of Selectmen will hold its own meeting on the casino to counter the MMCT discussion. The forum will happen on Thursday.

Defending their unanimous decision to welcome the casino, Selectman Jason Bowsza told the Associated Press, ‘We’re acting in that which we think is into the interest that is best in the city. You will find going to be those, like in virtually any presssing issue, that would disagree . . . but we’re excited to progress.’

Adam Meyer, ‘Celebrity Tipster,’ Sentenced to Eight Years For Fraud, Extortion and Racketeering

Adam Meyer, once the self-proclaimed ‘sports consultant to your stars,’ was sentenced to eight years in prison for fees fraud that is including extortion, racketeering and brandishing a firearm.

Ended up being Adam Meyer, pictured here in his ‘showbiz’ days Darren that is advising Rovell CNBC show, actually working for the feds all along? The ‘sports consultant to the stars’ was sentenced to eight years in jail for a $45 million fraudulence on Friday. (Image: CNBC)

Meyer’s case was bizarre. Here was a high-rolling handicapper, whom once boasted that his client list ‘reads like the front page of Variety,’ accused of impersonating a shadowy fictional gangster of his very own invention to be able to perpetrate a $45 million fraud that ended in the violent attack of a Wisconsin liquor magnate.

In his defense, Meyer claimed insanity, drug addiction, and that he had been an agent that is undercover. Also more bizarrely, the latter claim may really be true.

Bogus Bookies

Meyer ended up being the CEO of betting consultancy site Real Money Sports, which charged clients up to $250,000 for his recreations advice that is betting.

A slick, media-savvy operator, he made regular television and radio appearances as a tipster, billing himself as the person who had won over $1 million betting on the Green Bay Packers at Super Bowl XLV.

He told their clients he had a highly improbable 64.8 percent edge over the bookies.

One particular client ended up being Gary Sadoff, 64, the aforementioned liquor magnate; the dog owner, in reality, of the Badger Liquor Company of Wisconsin, the booze distributor that is biggest within the state.

Based on the court papers, Sadoff began purchasing recommendations from Meyer back 2007 therefore the pair were buddies. Along with offering tips, Meyer would also hook his clients up with offshore bookmakers, who would accept their very bets that are large no questions asked.

Meyer claimed, falsely, he had no relationship that is commercial these bookmakers, whereas, in fact, client money was often wired to records he actually controlled.

Wong Number

When Sadoff chose to quit his gambling that is expensive habit Meyer concocted a tale. Meyer’s life was at risk because he owed money to a fictional bookie gangster named Kent Wong, and because Wong thought that Sadoff and Meyer had been lovers, Wong held him responsible for Meyer’s financial obligation, and was coming for him.

Meyer would even telephone Sadoff, pretending to to be Wong, complete with a Chinese accent, threatening and demanding money from the businessman.

When Sadoff declined to deliver more cash, the situation escalated. Meyer plus an associate flew to Wisconsin and threatened Sadoff with a gun, until he was coerced into providing an additional $9.8 million.

Meyer, and their associate, Ray Batista, were arrested fleetingly after the incident, in December 2014, plus the latter sentenced to four years in January.

Insanity Plea

Meyer’s attorneys reported their customer ended up being addicted to drugs and had mental health issues in which ‘a different identity, or personality, periodically surfaces to Meyer’s detriment.’

Meyer also stated the ‘public authority’ protection, and that their crimes were committed during the behest of several US government and police force agencies for who he was an undercover agent. He said he was employed the asp of cleopatra slot by authorities to root down illegal activities operations that are betting.

The appropriate authorities deny this, but papers unsealed in June, and kept secret from the public on the behest of Meyer’s lawyers, suggest, at the least in a conspiracy-theory form of way, that there might be a modicum of truth in the claim.

Working for the Feds?

In 2007, the year he advertised he started working for the feds as an undercover agent, Meyer was arrested for scamming $6 million from casinos in Nevada and Connecticut. Considering he already possessed a criminal conviction at this time, he was staring down the nose at a most likely nine years imprisonment. Rather, he received two years probation.

‘That’s perhaps not a big departure [from sentencing guidelines],’ Jeffrey Cramer, a former federal prosecutor in New York and Chicago, told the Milwaulkee Journal-Sentinal after it presented him with the facts. That’s huge. That’s absolutely huge.’

Did the sports consultant to the stars cut a deal with the feds in return for leniency? Abruptly Meyer’s assertion that he helped the FBI seize $750 million from offshore bookies doesn’t appear quite therefore angry after all.

Amaya Debt Restructuring Designed to Keep Ex-CEO David Baazov in the Cold

PokerStars parent Amaya, Inc. has announced it offers restructured its US dollar and euro-dominated loans that are first-lien a bid to free up income. And something of this conditions regarding the refinancing agreement appears to reference previous CEO and ex-chairman David Baazov.

Amaya’s original top dog David Baazov dropped his takeover quest for the company year that is late last nevertheless now, new debt refinancing terms for the gaming operator have made another attempt by Baazov to grab the business impossible. (Image:

The provision rather coyly requires Amaya to distance it self from the co-founder and largest shareholder and also to shackle him from launching a future bid to obtain the organization.

‘At the demand of certain lenders, the amendment also modifies the change of control provision to remove the ability of a particular current shareholder to straight or indirectly obtain control of Amaya without triggering a meeting of standard and potential acceleration of the repayment of the debt underneath the credit agreement for the first lien term loans,’ announced Amaya in the official statement on its refinancing.


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