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The Crown Resorts Ltd share price has sunk lower

The Crown Resorts Ltd (ASX: CWN) share price is in the red again today.

In early afternoon trade the casino and resort operator’s shares are down over 1% to $12.78.

Crown Resorts’ shares are likely to have come under pressure this week after it provided the market with an update on its detained employees in China.

Yesterday the company advised that all its detained employees in China, as well as those released on bail, have been charged with offences related to the promotion of gambling.

As a result their cases have been referred to the Baoshan District Court in Shanghai.

With the matter now before the court, Crown has stated that no further comments will be made.

Despite the situation in China, the Crown Resorts share price has climbed over 10% this year. This means it has outperformed both the market and rival Star Entertainment Group Ltd (ASX: SGR).

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia owns shares of Crown Resorts Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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