Crown under review and still out to lunch

Crown Resorts Sydney casino development at Barangaroo in Sydney. Picture: Joel Carrett

Crown’s new Sydney gambling den is locked shut and the Bergin report into the James Packer-controlled casino group’s affairs is still secret, but Crown Resorts is quietly reshaping its operations as its Harbour City gaming licence hangs in the balance.

Margin Call understands that recent weeks have seen the departure from the Helen Coonan-chaired group of its long-serving, controversial chief legal officer Joshua Preston.

Preston, who had worked from Crown since 2006, was a key witness to Patricia Bergin’s recent inquiry into Crown’s operations and its suitability to run the new casino in Sydney.

Crown’s former chief legal officer Joshua Preston in 2013.

Along with Crown’s head of Australian resorts Barry Felstead, Preston was heavily damaged by evidence given at the inquiry by other Crown execs and directors.

Preston appears to have left the group by the end of last year. As of new year’s day he had disappeared as a director of several key Crown corporate vehicles, including several that were notoriously named in Bergin’s inquiry, including Riverbank Investments and Southbank Investments.

Preston was also a director of Crown Sydney Gaming Pty Ltd, which as of March last year was chaired by Jane Halton and is the gaming licence holder for the yet to open Sydney casino.

The only other director of that critical company is Crown CEO Ken Barton, with Crown general counsel Mary Manos also no longer a director and just company secretary.

The “retirement” of Felstead had already been brought forward by chair Coonan.

Meantime, the company continues to seek to beef-up its regulatory and compliance specialists, yesterday advertising for fresh talent for at least two new roles at its closed Sydney casino.

Better late than never.

Proud Eddie

Knock our socks off with a feather.

Victorian Premier Dan Andrews throws his support behind “proud” Collingwood president Eddie McGuire amid release of details of a damning report concluding the leading AFL club suffers from systemic racism.

What else would Victorians expect Andrews to do?

Asked on Tuesday ahead of the Pies’ annual meeting that night whether McGuire should resign in light of evidence of systemic racism at the Pies, over which he has presided for more than 22 years, Andrews said: “I don’t think running away from challenges is leadership, whether it’s in a footy club or any other role.”

“You’ve asked me should (McGuire) go, and I’m saying no. That doesn’t make any sense to me. That’s running from a challenge instead of dealing with it.”

Of course, leading Nine talent McGuire, who for a time was Sydney-based network boss, has deep ties into the ALP in Victoria.

His brother is state Labor MP Frank McGuire, who has represented the fine folks of Broadmeadows in the Legislative Assembly since 2011.

Late last year, amid disquiet over federal opposition leader Anthony Albanese’s performance, the Eddie For Canberra push rose its head once again.

When asked of a run into politics, the Broady boy done good – who now enjoys the Toorak lifestyle via his secluded $11 million plus home with a pool and tennis court – declared “never say never”.

Collingwood President Eddie McGuire. Picture: Darrian Traynor/Getty Images.

Some years ago McGuire, who is mates with former Labor leader Bill Shorten, was reported to have been offered the safe Labor seat of Scullin in Melbourne’s north.

Premier Dan, who is also paying for the $225 million redevelopment of the AFL’s Marvel Stadium in Melbourne’s Docklands, was only ever going to say positive things about Eddie’s self-made mess.

Tenders, by the way, for the Marvel project closed at the end of December, with potential contractors like building giant John Holland indicating it expects the 18-month project contract to be awarded by the end of March.

No apology, just ‘regret’

Eddie McGuire’s “proud” moment became yet another gaffe that the Collingwood president had to walk back amid a savage public backlash to his comments on the release of the “Do Better” racism report.

The media man began his club’s annual meeting (conveniently held at arm’s length from members and observers via Zoom) by expressing his “regret” over his ill-considered words.

“I got it wrong,” McGuire said.

“I said it was a proud day for Collingwood and I shouldn’t have.

“I did not mean we were proud of past incidents of racism and the hurt that it caused.

“It has been misinterpreted widely that way and I regret that deeply.”

"I got it wrong. I said it was a proud day, and it wasn't." - McGuire #2020AGM pic.twitter.com/sJKabWSFJM

— Collingwood FC (@CollingwoodFC) February 2, 2021

So no apology, just “regret” from the president that his words were misinterpreted.

McGuire’s fellow directors including former head postie Christine Holgate and corporate undertaker Mark Korda were there to see McGuire squirm live, while Thorney boss Alex Waislitz probably had the right idea avoiding the car crash altogether.

The billionaire sent an apology in favour of completing other business in Sydney.

Nice one.

Friendship isn’t free

As big tech names the likes of Google and Facebook wage war against the Australian media, it pays to have some friends on their side from the local business community.

Such allies don’t come free however.

Disclosures from Tim Reed’s Business Council of Australia, which describes itself as an “advocate for good policy on behalf of the business community and the Australians they employ”, show just how much the tech titans chipped in over the past year.

Records for the last financial year show Mel Silva’s local arm of Google paid $187,000 in subscription fees to the peak body for business last year – covering both the previous and current financial years according to a BCA spokesman.

Business Council of Australia President Tim Reed. Picture: AAP Image/Mick Tsikas.

Nothing like a prompt payment to get on side with the local corporates, especially considering the BCA is a key campaigner for establishment of a supplier payment code.

Facebook meanwhile made its first appearance in the council’s disclosures in financial year 2020 – with $101,206 in membership fees paid during the year – an additional portion of the usual $93,500 annual fee pro-rated to cover its entry to the group in the year prior.

As did its Zuckerberg stable mate Twitter Australia – which paid out $140,250 in FY20.

It wasn’t just the tech companies cosying up with our local industry group – controversial North Queensland miner Adani joined the list of corporates, along with private equity outfit KKR Australia and Brisbane Airport.

But just as the new faces joined the ranks, so too did names such as tobacco producer Philip Morris, gas producer Santos and under pressure mall operator Vicinity Centres make for the exit.

Eddie

regret

Friends