NewsBite

Packer throws in the towel to save Crown's licence

Finbar O'Mallon and Lucas Baird
EmailLinkedInTwitterFacebook

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Billionaire gambling mogul James Packer has invited the NSW casino inquiry commissioner to cap shareholdings in Crown Resorts in an admission he may be forced to sell down his stake to secure the licence to operate the new Sydney casino.

Mr Packer said on Thursday he would not return to the Crown board and that the deal allowing him backdoor information on the company's financial performance should end.

Loading...
Finbar O'Mallon is a reporter for The Australian Financial Review. Connect with Finbar on Twitter. Email Finbar at f.omallon@afr.com.au
Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com
EmailLinkedInTwitterFacebook

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

License article

Read More

Latest In Gaming & wagering

Fetching latest articles

Most Viewed In Companies

    The Australian Financial Review Magazine

    From left: Michael Schumacher, Roger Federer, Ash Barty, Mark Webber and Daniel Ricciardo have all been in “commercial marriages” with watch brands.

    BOSS Financial Review

    Kim Feitelberg established her haircare company, HairShots, in early 2023.

    Life & Leisure

    Rich List

    Nick Andrianakos, pictured in Greece’s Nafplio, where he had been building a hotel.

    Original URL: https://www.afr.com/companies/games-and-wagering/packer-throws-in-the-towel-to-save-crown-s-licence-20201008-p5639u