OPINION: What would it take for a casino like Crown to actually lose its licence?

OPINION: What would it take for a casino like Crown to actually lose its licence?

Article brief provided by The Sydney Morning Herald
  • Elizabeth Knight, The Sydney Morning Herald
October 26, 2021 10:13 PM
  • Elizabeth Knight, The Sydney Morning Herald

    The potential damage to the Victorian economy was at the heart of the royal commission’s recommendation that the “disgraceful” Crown Resorts retain its licence.

    Sound familiar? The royal commission found Crown’s “unethical, exploitative, illegal and dishonest” behaviour was also motivated by money – in its case by corporate profit.

    Money trumps – well – just about everything. When viewed through a financial lens – every player wins a prize.

    But it’s James Packer that wins the jackpot. He has three years to sell down his 37 per cent holding in Crown to less than 5 per cent. Given he has already been hawking those shares for more than two years, team Packer will be thoroughly across the potential buyer terrain.