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How Packer wins at Crown

How Packer wins at Crown

The market is reading Commissioner Bergin’s scathing report on Crown as the Great Escape. But does James Packer care?

Patricia Bergin released a scathing report from her casino inquiry that investigated James Packer’s influence over the Crown board. David Rowe

Neil ChenowethSenior writer

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There’s a moment of overwhelming pathos in the picture of James Packer holed up in his Aspen mansion on Tuesday evening, reading Commissioner Patricia Bergin QC’s excoriating report from her casino inquiry that demolished his life’s work.

It’s not just that Bergin clearly wants Packer out of Crown Resorts, where the 36.8 per cent stake held by Consolidated Press Holdings (CPH) makes him still the shareholder with the biggest voice. It’s the ignominy of the proposed exit, the walk of shame, the rejection of the role that has for two decades defined him, that has to hurt.

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Neil Chenoweth
Neil ChenowethSenior writerNeil Chenoweth is an investigative reporter for The Australian Financial Review. He is based in Sydney and has won multiple Walkley Awards. Connect with Neil on Twitter. Email Neil at nchenoweth@afr.com.au

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Original URL: https://www.afr.com/companies/games-and-wagering/how-packer-wins-at-crown-20210211-p571sg