In a severe blow to the fortunes of billionaire James Packer, an inquiry has found Crown Resorts is not suitable to operate a casino at Barangaroo in Sydney.
Mr Packer is Crown's majority shareholder, but the inquiry by the New South Wales gaming regulator says he needs to sell down his control after allegations the company facilitated money laundering and has links with shady junket operators.
ABC's Peter Ryan says the inquiry's finding are damning of Crown's management and board of directors, raising the question of whether the casino giant is capable of overhauling its operations.
No comments:
Post a Comment
What's your view on this?