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Crown Melbourne CEO stands down

Finkelstein investigating Crown casino and hotel separation Save Share That’s a wrap That’s it from us on the blog. Here are the key points you need to know from today’s submissions: Crown wants to either retain its casino licence with a monitor overseeing its reform process or lose it for two years but then reapply. In other words, it does not want the Melbourne licence to go to an open tender as counsels assisting the royal commission suggested. The company says losing its licence is not in Victoria’s interests, pointing to their high tax contributions, tourism appeal and staff numbers. Finkelstein rejected that the consequences would be as dire as Crown said.

Markets Live, Tuesday, 3 August, 2021

See you then. Get our wrap of the day on the markets, breaking business news and expert opinion delivered to your inbox each afternoon. Sign up for The Sydney Morning Herald’s here and The Age’s here. 4.43pm By Lucy Battersby The Australian sharemarket retreated from record highs on Tuesday as miners, banks, and industrial stocks dragged on gains in growth companies, although the buy now, pay later sector helped limit losses. Ongoing interest in Afterpay’s takeover by US-tech company Square pushed its price up a further 11.4 per cent to a six-week high of $127.85. This saw the whole technology sector rise sharply for the second day in a row.

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