Monarch Entertainment Settles $94 Million Lawsuit Over China Gambling Strategy

Monarch Entertainment has come to an agreement with investors, resolving a $94 million class action lawsuit concerning the firm’s promotional strategies in China.

Initiated in 2017, the legal action claimed that Monarch neglected to adequately inform about the hazards connected to its assertive pursuit of wealthy gamblers in China, a nation where wagering is predominantly prohibited. This course of action culminated in the apprehension of 18 Monarch staff members in 2016 and a substantial decline in the company’s stock value.

Investors contended that Monarch should have exhibited greater openness regarding the possible repercussions of its conduct, particularly considering China’s intensified efforts to suppress overseas businesses promoting gaming activities.

Although Monarch asserts its innocence, it has consented to settle the lawsuit to avert additional legal expenditures and disruptions. The resolution is still pending judicial authorization.

The directors at Crown Resorts have concluded that agreeing to this resolution is the optimal course of action for the firm and its investors.