Crown Resorts chair Helen Coonan knows when to hold ‘em and when to fold ‘em despite not being a gambler

On a warm summer’s evening, Crown chair Helen Coonan took swift action to turn the $6.6bn casino empire around.

Helen Coonan knows how to play the long game, associates say. Picture: Adam Yip

Helen Coonan is not a gambler but she is about to make the biggest bet of her corporate life.

The Crown Resorts chairman has immediately begun work on the transformation of the gaming giant — attending meetings at both ends of the Hume — after the company was labelled not suitable to hold a casino licence in NSW.

Ms Coonan was the only Crown official to emerge positively from Patricia Bergin SC’s damning report into the company that has sent reverberations across Crown’s entire $6.6bn gaming empire.

At stake is Sydney’s newest landmark — Crown’s $2.2bn ­casino at Barangaroo — and Crown’s flagship Melbourne complex, which is Victoria’s biggest single-site employer.

Ms Coonan has already met with NSW and Victorian gaming officials as she seeks to implement a “root and branch” reform at Crown.

“We owe it to the over 20,000 people who work at Crown’s properties to move with pace as we implement the necessary reforms,” she said.

But her first two main challenges to overcome were inside her own boardroom: Crown CEO Ken Barton and non-executive ­director Andrew Demetriou.

Both men have been under intense pressure to resign after Ms Bergin recommended their removal as part of the actions Crown needs to take to make it suitable to hold a casino licence. Victorian Commission for Gambling and Liquor Regulation CEO Catherine Myers also added to Ms Bergin’s call, demanding Crown explain why Mr Barton and Mr Demetriou “remain suitable to be an associate of Crown Melbourne”.

Given chief executives and ­directors have a responsibility to deliver value to shareholders, it seems bizarre that Mr Barton and Mr Demetriou would ever dig in. It is also understood that Mr Barton had also lawyered up, hiring independent legal counsel to advise him over his future at Crown.

As one Crown observer said: “They are the walking dead and have been ever since they gave evidence at the [NSW] inquiry.”

But late on Thursday, and after meeting with Ms Coonan, common sense seemed to have prevailed, with Mr Barton agreeing to resign.

It is understood Mr Barton flew from Melbourne to Sydney on Thursday morning to meet Ms Coonan after a meeting of the board on Wednesday night failed to resolve the situation.

Those close to Ms Coonan say she has what it takes to navigate Crown Resorts back to being one of Australia’s most prominent companies — for the right reasons — and show it can be suitable to operate a casino. That’s code for it only ever being a matter of time before Mr Barton and Mr Demetriou headed to Crown’s exit.

“She was born in the country and brought up with these country values, which I think is really important to remain grounded,” one close associate of Ms Coonan said.

“I have never been anything but impressed with her.”

Ms Coonan grew up in the NSW Riverina region, just outside Wagga Wagga. After studying law at the University of Sydney, she became a solicitor and a barrister — and quickly learned to distil complex information and formulate a strong argument.

It was good training for the rough and tumble of politics, which she entered in 1996 as a senator for NSW, rising to become minister for communications, information technology and the arts in the Howard government, overseeing the ABC, Australia Post and telecommunications industries.

After leaving politics she has become chair of a raft of key committees and authorities, including the Australian Financial Complaints Authority, Minerals Council of Australia, Placemaking NSW Advisory Committee, Supervised Investments Australia Limited and GRACosway.

“You can have a conversation around the board table and it will go on for 20-30 minutes about a particular subject and it will be quite complex and she’ll just wrap it up in 30 seconds, well, and say ‘this is where we are at, this is what’s going to happen and this is who is going to be responsible for it and let’s move on’,” one close associate said.

Another close associate said Ms Coonan knew how to play the long game, and importantly read the room.

“She is the consummate professional, incredibly rigorous and a really tough, resilient individual and I’d say she has high EQ,” the associate said.

“Back in the day, when she was minister for communications, as you would imagine for someone in that position, she was a very networked individual and was quite adept at understanding and managing stakeholders.”

But one little known fact about Ms Coonan is that, despite heading Australia’s biggest casino group, she doesn’t partake in a flutter herself.

“Helen is not a gambler,” one close associate said.

With more than 20,000 employees’ livelihoods at stake, Crown needs a leader who will not be tempted to roll the dice on risky bets.

After all, Fitch’s primary rating analyst Kelly Amato said “extensive changes” were needed at Crown to earn its Sydney licence and it would have to go beyond Ms Bergin’s recommendations.

“Crown has a pathway to retain the Sydney casino licence. However, measures in addition to those recommended by the inquiry may need to be implemented to address the concerns highlighted in the report, particularly around the corporate culture at Crown,” Ms Amato said.

Despite not being a gambler, Ms Coonan is fully aware of the stakes.

“While we have already taken a number of important steps to improve our governance, compliance and culture, I recognise from the commissioner’s report we have much more to do,” she said.

“We do not underestimate the scale of the problem and appreciate there is a need for ‘root and branch’ change. This change has commenced.

“Importantly, the Commissioner’s report outlines a pathway towards suitability to give effect to the Barangaroo Restricted Gaming Licence. Noting that ILGA will now consider and respond to the recommendations.”