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In an interview on CNBC this week, the billionaire Crown Resorts CEO, who also co-runs the City of Dream and Altira resorts with Lawrence Ho, bemoaned the effect the Chinese government was having on company profits.
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Instead, it costs only $60,000 to raise money through ICOs and the process can be completed in three months. The abuse of the system has led the SEC to conduct a probe into the ICOs. More than a dozen ICOs have received subpoenas from the SEC.
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The Alliance for Gambling Reforms states that the amount of money lost on pokies machines should be alarming legislators. Consequently, Tim Costello, the Spokesperson for the Alliance for Gambling Reform reports that politicians should be working toward a goal of under AU$26 billion per year.
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