Crown says it is co-operating with the Victorian gambling regulator on the watchdog’s disciplinary action over the James Packer-backed company’s controversial China UnionPay scheme, as it faces up to a $100 million maximum penalty over the illegal transfers.

This comes as Crown also faces a massive penalty from the financial crime regulator, AUSTRAC, for breaking money laundering laws more than 500 times – with penalties theoretically amounting to fines of more than $1 billion, but analysts expect a much lower figure.