THE M3: MPEL/AUSTRALIA; MAINLAND BANKER DEBT

The Macau Metro Monitor, May 31, 2012

AUSTRALIA TO INVESTIGATE MELCO CROWN Macau Business

According to Business Daily, the Independent Liquor and Gaming Authority of New South Wales will investigate MPEL. Crown Ltd is looking to increase its stake in another Australian company with casinos in Sydney and Queensland and faces a “probity and suitability” test.  “This will involve liaison with a large number of regulatory and enforcement agencies, both nationally and internationally,” said the Independent Liquor and Gaming Authority of New South Wales.  The report also quotes sources saying that Crown chairman James Packer already has regulatory approval in two other Australian states and in Nevada.

MAINLAND BANKER BUSTED DUE TO GAMING DEBTS Macau Business

Yang Kun, an executive vice-president of the Agricultural Bank of China, has been detained by the Central Commission for Discipline Inspection of the Communist Party of China, over allegations he used customers’ money to pay gambling debts at Macau casinos.