As the Perth Casino Royal Commission drew to a close,the billionaire’s senior counsel argued against his company having to sell shares in the embattled Crown.
A lawyer for Crown has argued the organisation is still fit to hold a casino licence in Perth as the company made a final plea to a Royal Commission in WA.
For citizens fond of fairness,openness and proper process,it is a grim time.
Back in 1993,before the Crown consortium won the bid to build a sprawling gambling and entertainment complex along the southern side of the Yarra river,there was another option for Melbourne’s casino that promised less glitz and glamour but more culture and refinement.
The explosive royal commission into Crown Casino could lead to the biggest steps to tackle harmful gambling in Victoria in over a decade.
Billionaire and Crown major shareholder James Packer has fronted the Perth Casino Royal Commission on Friday morning and admitted to oversights and governance shortfalls at Burswood.
The economy needs the casino and entertainment complex but whether Crown Resorts should continue to hold the licence is another thing altogether.
Crown Resorts directors could be put in an untenable position of having decisions they believe are in the best interests of the scandal-plagued company overridden by the new “special manager” appointed to monitor its Melbourne casino,legal experts say.
The Andrews government has offered rare clemency to Crown casino in allowing it to keep its gaming licence despite being told it was unsuitable to operate.
Crown Resorts’ retention of its prized Victorian casino licence despite years of egregious legal and moral breaches has emboldened investors in the beaten-down sector,and could reignite take over interest in the gambling giant.
Two seemingly contradictory conclusions stand out in the final report of the royal commission into Crown Resorts.