Eamon Gallagher, SMH
Crown CEO Ken Barton has resigned after an inquiry showed it had failed to stem money laundering.
The Bergin Inquiry found Barton was no match for what s needed at the helm of a casino licensee.
Barton may walk away with up to $60 million (AUD 77 million) in compensation.
Crown s top executive could not survive a damning inquiry that found regulators could not have confidence in the company under his stewardship.
CEO and managing director Ken Barton stepped down on Monday after Crown was hung out to dry by an inquiry that found its Sydney operation wasn t suitable to hold a casino license at this time.
Crown Resorts money laundering case: CEO Ken Barton resigns
In a report after an year-long inquiry for the state gaming watchdog in New South Wales, former Judge Patricia Bergin had recommended an overhaul of Crown before it began gaming operations at its new A$2.2 billion Sydney casino.
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Ken Barton, Chief Executive Officer of Australia s Crown Resorts has stepped down following allegations of money laundering within the casinos.
In a statement, the Melbourne-based casino said Barton will leave immediately and will be replaced by Helen Coonan as executive chairman until the board oversees a search for a new CEO, according to a Bloomberg report.
âRegular fishing tripsâ: WA chief casino officer stood aside over close contacts to Crown bosses
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Crown Resorts has launched its own external review after Western Australiaâs chief casino regulator stood aside over revelations of his social relationship with senior members of the companyâs legal and compliance team.
Michael âMickâ Connolly is the deputy director general of the Department of Local Government, Sport and Cultural Industries, and the chief casino officer under WAâs casino control legislation.
Allegations of money laundering through Crown Perth have been aired in an explosive NSW inquiry.
The chips are down as Crown chair Helen Coonan fights to save Sydney casino
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Heavy lies the crown on Helen Coonanâs head. The former federal politician and government minister has one of the ugliest and toughest jobs in corporate Australia â and of her career â to clean up the disastrous failings of Crown Resorts.
As chair of Crown, Coonan presided over a company which this week was informed it was not fit to operate its casino licence in Sydney, following a series of shocking findings that it had facilitated money laundering and been infiltrated by organised crime in its Melbourne and Perth casinos.