Crown slips with NSW
Following the release on Tuesday of a scathing report that ruled Crown Resorts unfit to operate its new Barangaroo casino, the company’s fate now rests in the hands of NSW’s gaming regulator. If the Independent Liquor and Gaming Authority adopts the inquiry’s recommendations, NSW Premier Gladys Berejiklian said “all bets are off” for Crown unless the company undertakes significant reform. Pressure is mounting on Crown boss Ken Barton and board director Andrew Demetriou to resign after billionaire shareholder James Packer’s company Consolidated Press Holdings yesterday cut ties with Crown yesterday with its representatives on the board bailing out. As for what might happen to the Barangaroo development if the casino is ditched? Experts reckon it could be turned into luxury apartments worth tens of millions a pop. High rollin’ indeed…
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