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In our first story this week, billionaire James Packer comes under scrutiny for corporate governance failings during his time as an executive at Crown Resorts. On Friday, Packer testified in front of the royal commission about events that took place while he was chairman of Crown’s West Australian subsidiary, Burswood Limited.
At the questioning, the former chairman admitted to not attending the board meeting for four years after moving to live overseas. In addition, Packer failed to make sure that the board had a written charter.
The royal commission is the third in a series of state-based inquiries into dealings of Crown Resorts. The investigations were sparked by a 2019 documentary series, Crown Unmasked, which made allegations of money laundering and criminal activity within the company.
Next up, the developers at Linn County have a plan in place to build a casino in Cedar Rapids. However, they'll first have to get a voters' approval on Tuesday, when county residents will decide on whether to support the public measure "G". The vote "yes" will allow Cedar Rapids Development Group and their gaming partner Peninsula Pacific Entertainment to initiate their casino project.
The voters have approved similar proposals twice before, in 2014 and 2017. However, both times, the Iowa Racing and Gaming Commission, rejected the initiative. Still, the developers remained dedicated to their goal. With a significantly changed gaming market in the state and some new members on the commission, they are hoping that the third time will be the charm.
In our next story, a night of gambling took a deadly turn on early Tuesday morning. A New Jersey man was reportedly followed as he left Parx Casino in Buck County, Pennsylvania, and fatally shot at his home, while his wife and kids were inside.
According to the police reports, Sree Aravapalli, aged 53, won over $10,000 in the casino that night. Unfortunately, that made him a target of an attempted robbery that ended with him losing his life. Police apprehended Jekai Reid-John, 27, of Norristown, Pennsylvania, who is a prime suspect, charged with one count of first-degree murder.
The tragic event left the whole community in a state of shock and disbelief. Local police and Parx Casino offered their condolences and full support to the victim's family.
In our last story, the global phenomenon, Squid Game, now has its own cryptocurrency. The Squid coin has been launched as a part of the Squid Game project - a crypto play platform. The new token got off to a blistering start. At the moment, it's trading at $2.22, surging more than 2,400% in just 24 hours. The market capitalization of the Squid coin is now estimated at above $174 million.
The Squid Project will also start the online crypto tournament, which will mimic the six rounds of games from the TV show. To participate, players will have to pay an entry fee in Squid coins. Per reports, the entry to the final round will cost $33,450. In addition, the company will launch a series of NFTs, based on popular characters from the Netflix show.
Remember to visit PlaySlots4RealMoney.Com (that's the numeral 4) and EasyMobileCasino.com. Subscribe to our newsletter to get the latest news and bonus codes delivered to you weekly for more updates. Share this podcast on social networks. Remember, tor the most recent online casino ratings and slot machine reviews, stop by CasinoSlotsMoney.com. For Bitcoin and other cryptocurrency quotes, stop by ArmyOfBitcoin.com. Feel free to view the links below, which are helpful resources. That’s your Weekly Gambling News Roundup.