Crown Resorts has denied keeping shareholders in the dark over allegations of corruption that have led to the casino operator being referred to law enforcement.
Asked by the Australian Securities Exchange whether it had any unannounced information that could explain recent share price falls, Crown on Wednesday referred the share market operator to media allegations of money-laundering and visa irregularities.
Shares in Crown moved within a 3.9 per cent range on Monday and a 6.0 per cent range on Tuesday – closing 3.2 per cent and 1.9 per cent lower respectively.
“CWN confirms that it is not aware of any information concerning it that has not been announced to the ASX which a reasonable person would expect to have a material effect on the price or value of CWN’s shares,” Crown general counsel Mary Manos said in a letter to the ASX.
Ms Manos said Crown had taken account of the media allegations and the fact it had some financial information due to its full-year results being compiled for audit ahead of release on August 21.
Crown faces claims it had a hotline to Australian consulates to fast-track visa applications for big-spending gamblers flying in from China.
There are also allegations Crown laundered large sums of money through its Melbourne gaming venue, which the company strongly rejects.
Attorney-General Christian Porter on Wednesday referred allegations involving Crown and government agencies to the Australian Commission for Law Enforcement Integrity.
Crown says it will assist any investigation and rejects all allegations of wrongdoing, calling the allegations a “smear campaign”.
Shares in Crown Resorts were worth $12.03 before the start of trade on Wednesday, down 16.3 per cent since early April.