James Packer tells WA inquiry no objection to Crown stake sale
James Packer has told the WA inquiry into Crown Resorts he does not object to being made to sell down his 37 per cent stake in the business to below 5 per cent by September 2024.
Reclusive billionaire James Packer's appearance before the WA royal commission into Crown Resorts has concluded with admissions of oversights and ineffective leadership. And he has no objection to a forced slashing of his stake.
Mr Packer earlier said he made a mistake in not appointing someone with financial crimes or anti-money laundering experience to the Crown Perth board.
The commission is examining Crown’s suitability to operate its Perth casino resort, the only one in the state.
Mr Packer – a former chairman of Crown and its largest individual shareholder – also gave evidence to NSW’s Bergin Inquiry into Crown’s brand new Sydney casino last year.
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