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SYDNEY: An Australian regulatory inquiry raised the prospect on Thursday of cancelling the casino licence of gambling giant Crown Resorts Ltd over alleged corporate governance failures, casting a shadow over the company weeks before a US$1.6 billion resort opening.
SYDNEY: An Australian regulator should reconsider its approval of billionaire James Packer as a registered associate of casino company Crown Resorts Ltd due to his "adverse impact on its good governance", an inquiry heard on Thursday.
SYDNEY: Shareholders of Crown Resorts Ltd voted against executive pay at the company’s AGM, a step toward removing the board, as the Australian casino giant apologised for corporate governance failings.
Casino operator Crown Resorts Ltd said on Monday Australia's financial crime watchdog had launched a probe into its Melbourne business on suspicions of money-laundering and counter-terrorism financing, sending its shares over 4% lower.
SYDNEY: A director of Australian casino giant Crown Resorts Ltd felt pressured last year by its then-chairman to sign a now-discredited full-page newspaper advertisement attacking negative media coverage, she told a regulatory inquiry on Thursday.
SYDNEY: Australian billionaire James Packer said he “forgot” his casino firm Crown Resorts Ltd was banned from dealing with associates of Hong Kong’s Stanley Ho when he orchestrated a part-buyout by a firm controlled by Ho’s son.
SYDNEY: Australian casino giant Crown Resorts Ltd said yesterday it was betting on domestic gambling to bolster profit as an international travel ban triggered by the coronavirus pandemic wiped out much of its annual earnings.
SYDNEY: Australia’s commercial construction activity will collapse as the impact of Covid-19 wipes out private demand for new building works, a national industry body said.
SYDNEY: Australia’s two biggest casino companies said they would shut off half their poker machines to force gamblers to engage in “social distancing” and slow the spread of the coronavirus, as concerns about their future revenue sent shares tumbling.
SYDNEY: Crown Resorts Ltd billionaire James Packer has endured blow upon blow for more than three years: a bruising clash with Chinese authorities and at least two aborted deals with suitors.