Crown officially deemed not suitable to hold casino licence by gaming regulator
Crown Resorts has officially been told by the New South Wales regulator it is no longer a suitable person to hold a gaming licence for its $2.2 billion Barangaroo casino.
In a notice to shareholders, Crown said it had received a letter from the New South Wales Independent Liquor and Gaming Authority (ILGA) informing the business officially of the proceedings underway.
The findings come a week after the damning Bergin report, which concluded an intensive 18-month investigation on Crown s casino dealings with an 800-page document that recommended root and branch changes.
Last modified on Tue 16 Feb 2021 11.31 EST
At least 11 billionaires last year received dividends totalling tens of millions of dollars from companies that received jobkeeper subsidies designed to keep workers employed, new research shows.
The research, commissioned by the opposition frontbencher Andrew Leigh, shows that retail moguls Solomon Lew and Gerry Harvey were among those receiving the payments.
Leigh said the payments came against a backdrop of the rich doing extremely well during the pandemic, with Forbes estimating that the average Australian billionaire’s wealth increased by 59% over the past year, while workers struggled with wage stagnation and a spike in unemployment caused by the pandemic.
Eamon Gallagher, SMH
Crown CEO Ken Barton has resigned after an inquiry showed it had failed to stem money laundering.
The Bergin Inquiry found Barton was no match for what s needed at the helm of a casino licensee.
Barton may walk away with up to $60 million (AUD 77 million) in compensation.
Crown s top executive could not survive a damning inquiry that found regulators could not have confidence in the company under his stewardship.
CEO and managing director Ken Barton stepped down on Monday after Crown was hung out to dry by an inquiry that found its Sydney operation wasn t suitable to hold a casino license at this time.
Crown Resorts has announced that Ken Barton is no longer the CEO and managing director of the company, with Helen Coonan taking over the leadership position.