Crown Resorts has plumbed astonishing ethical and moral depths in pursuit of profits. Private equity giant Blackstone is also chasing a profit – from redeeming Crown’s reputation.
Private equity companies generally have a reputation for buying “distressed assets” at bargain prices, squeezing as much cash out of them while
Private equity companies generally have a reputation for buying “distressed assets” at bargain prices, squeezing as much cash out of them while
Crown’s credibility has been shattered. The state government and regulators need to stand firm to make sure that from now the company is run in the right way.
Crown punters will be required to pre-commit to maximum poker machine losses and time limits, under new Victorian laws to be introduced later this year.