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AGL latest in curious boom in CEOs leaving after pay strikes Brett Redman is part of a growing trend of CEOs announcing their departures in the year after their firm cops a pay ‘strike’. This year’s toll sits at eight. Updated Save Share There are lots of reasons to talk about the messy departure of AGL chief executive Brett Redman, who has left the energy company in the lurch with his decision to resign just weeks after announcing he would split its retail and generation divisions into separate companies. Does Redman really deserve his “good leaver” status and th...

Packer agrees to Crown board ban in inquiry fallout We’re sorry, this service is currently unavailable. Please try again later. Dismiss Normal text size Advertisement Billionaire casino mogul James Packer has agreed to play no role in how Crown Resorts is run for the next three-and-a-half years, after the damning Bergin Inquiry found his influence was a reason it was unfit to open its new Sydney casino. The NSW Independent Liquor and Gaming Authority (ILGA) said on Friday it had reached an agreement with Mr Packer, who owns 37 per cent of Crown, which included banning him from nominating an...

Blackstone adds break clause to Crown deal in event of licence suspension 13th April 2021 | By Daniel O'Boyle Private equity giant Blackstone has altered its bid to acquire Crown Resorts, so that the deal will not go ahead if either of Crown’s existing licences are suspended or its New South Wales licence is not granted. Blackstone put forward an offer of AUS$8.02bn (£4.47bn/€5.21bn/US$6.19bn) to acquire the remaining 90.1% of shares in Crown last month, having already acquired 9.99% of the business from Melco in April 2020. Under this deal, Blackstone will pay $11.85 per share. At the t...

Crown Casino Receives $6billion Takeover Offer Written by Tom - Yesterday 9:10 AM, High stakes reports Australias premier casino group has seen a $6billion offer tabled for it, the potential buyers looking to add Crown Resorts to their Vegas casino portfolio that includes the Bellagio… By: Andrew Burnett casino-buying spree for half a decade now, spending more than $10billion to acquire Now the owners of the Crown Casino in Melbourne – home of the Aussie Millions – are being targeted by the New York City-based investment management company. The move comes as gambling regulators ...

Another Crown Resorts director steps down as NSW regulator flexes muscle   747 VIEWS John Poynton has become the fifth Crown Resorts director to step down in less than a month as the company’s boardroom makeover continues in the wake of the recent Bergin Report. Crown announced Monday morning that Poynton, who had previously resisted calls to step aside, had agreed to make way following pressure from the NSW Independent Liquor and Gaming Authority (ILGA). The Authority had questioned Poynton’s independence from majority shareholder James Packer given his former role as a consultant to Pa...