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.

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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.