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SYDNEY (Reuters) - Australia’s Crown Resorts said it was still considering the position of Chief Executive Ken Barton at the casino operator after an inquiry into money laundering allegations found he was not fit for the job, putting its gambling licence in jeopardy.
FILE PHOTO: The logo of Australian casino giant Crown Resorts Ltd adorns the hotel and casino complex in Melbourne, Australia, June 13, 2017. REUTERS/Jason Reed
The statement came in tandem with the resignation of a third director, Andrew Demetriou, the chairman of Crown Melbourne, where the alleged money laundering took place.
Investors said, however, that Barton’s resignation was only a matter of time and the fact that it hadn’t happened yet was likely due to the need to settle on his replacement and make changes to company structures.
Two Crown Resorts Ltd directors with links to major shareholder James Packer resigned on Wednesday, the first heads to roll after the Australian casino operator was deemed unfit to hold a gambling licence for its new Sydney casino.
Australian casino giant Crown Resorts Ltd is unsuitable to hold a gambling licence for its flagship new Sydney resort unless it makes sweeping changes to its board and culture, according to a highly critical report by an industry regulator.
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(Reuters) - Ladbrokes owner Entain named non-executive director and industry veteran Jette Nygaard-Andersen as its chief executive officer on Thursday, making her the first woman to lead a UK gambling company.
FILE PHOTO: General view inside a Ladbrokes shop in Harpenden, Britain, March 18, 2020. REUTERS/Peter Cziborra
Outgoing CEO Shay Segev announced his intention to quit, to take up a job at global sports streaming platform DAZN, days after rejecting an $11 billion takeover approach from MGM Resorts’ just after seven months in the role.
Nygaard-Andersen takes on the role at a time when Entain is evolving into an entertainment company and she will be tasked with steering the firm towards regulated markets, expanding in the lucrative United States sports betting market and boosting its online offerings.