James Packer

EconomyPosted by

Australia's Crown Resorts offered $2.3 bln to buyout James Packer

Australia's Crown Resorts Ltd (CWN.AX) said on Monday it will assess a A$3 billion ($2.32 billion) offer by U.S. private equity firm Oaktree Capital to buy James Packer's 37% stake in the casino operator. Packer's influence on the company he founded came under intense scrutiny in a state inquiry last...

John Poynton exits Crown Resorts for perceived James Packer conflicts

John Poynton has become the latest director to resign from Crown Resorts, doing so over perceived independence issues due to his past association with the group’s major shareholder James Packer. Poynton steps down as a director of Crown and as chairperson and director of Crown Perth with immediate effect, stating...
GamblingPosted by

'Not suitable': where to now for James Packer and Crown's other casinos?

After months of hearings, characterised by spectacular admissions including threats of violence, the report of the Bergin Inquiry into the probity of Crown Sydney Gaming, a subsidiary of Crown Resorts Limited, has been tabled in the NSW parliament. Crown Resorts runs the Crown casinos in Melbourne and Perth. The Inquiry found that Crown Sydney Gaming was “not a suitable person” to operate the Sydney casino. It also found the parent, Crown Resorts Limited, was “not suitable to be a close associate of the licensee”. The serious corporate failures relate to Crown’s operations in China and the arrests of the employees in October 2016 with...