Helen Coonan backs Crown Resorts overhaul, but still set to step down

Crown Resorts chair Helen Coonan has committed to an overhaul of the James Packer-backed company but has also restated her intention to stand down.

Crown executive chair Helen Coonan: ‘We will be relentless in tackling any shortcomings.’ Picture: John Feder

Crown Resorts executive chair Helen Coonan has committed to an overhaul of the James Packer-backed company – but has also restated her intention to stand down as the casino group braces for another royal commission bombshell on Tuesday.

In a note to Crown staff on Friday, Ms Coonan said her overhaul of the company’s culture, compliance systems and anti-money laundering regime was “our best and last chance to get it right”.

“We have seen some disappointing evidence emerge from the Victorian royal commission about past behaviours in our operations,” Ms Coonan told staff.

“Inevitably additional issues and related media coverage will arise over the weeks ahead.

“What is important is our approach and how we respond.

“We will be relentless in tackling any shortcomings.”

The Victorian royal commission into Crown is set to hear submissions from counsel assisting on Tuesday and it is widely expected they will submit Crown is not suitable to operate its flagship Melbourne Casino.

Although commissioner Raymond Finkelstein will make the final call in October, NSW’s Bergin inquiry earlier this year ruled Crown unsuitable to operate its Sydney casino after counsel assisting made that recommendation.

Ms Coonan appeared at the commission last week and it was revealed she signed off on a letter from Crown lawyers Arnold Bloch Leibler to the Victorian government warning that Crown may default on debts if the commission revoked its Melbourne licence.

This prompted accusations from counsel assisting that Crown was trying to pre-empt the findings of the commission. It is understood the Crown board regrets that the letter was sent.

Despite committing to Crown’s reform program, Ms Coonan told staff it was still her intention to stand down, preferably around the time of the company’s annual general meeting in October.

“I am also hopeful that by the AGM scheduled for later in the year, we will be in a position to announce a new chair,” she said, adding that by then Crown would know whether the NSW gaming regulator would allow it to open Crown Sydney.

Ms Coonan said the board would shortly announce additional directors, after some were forced to resign in the aftermath of the Bergin inquiry.

“We hope to be in a position to announce new appointments, subject to probity approvals, at the earliest opportunity,” she said.