Former Crown director claims chairwoman acted inappropriately over his position
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Dumped Crown Resorts director John Poynton claims its chairwoman acted in an ‘inappropriate’ manner as she and the New South Wales casino regulator piled on pressure for him to resign in the wake of the Bergin inquiry which found the company had facilitated money laundering.
A submission by Mr Poynton to the current Perth Casino Royal Commission, which was released on Wednesday night following his appearance at a hearing, was critical of Crown’s Helen Coonan and NSW Independent Liquor and Gaming Authority chairman Philip Crawford for trying to make him quit without an opportunity to defend himself to the company’s board.
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‘Nothing short of complete, holistic, bottom up and down reform is required’: Verdict in on Crown royal commission
‘Nothing short of complete, holistic, bottom up and down reform is required’: Verdict in on Crown royal commission Share
The fate of Crown Melbourne’s operating licence and two key stakeholders hangs in the balance after closing submissions were put forward by counsel assisting.
The Royal Commission into the Casino Operator and Licence has wrapped up, with counsel assisting the commission putting forward the closing submission on whether Crown Melbourne is suitable to hold a licence – among other things.
Citing “overall evidence” given by submissions and witnesses throughout the proceedings, counsel assisting found it is not in the public interest that Crown Melbourne continue to hold the casino licence in Victoria.
Foiled Again
The futures had it right yesterday morning – the ASX200 opened up 23 points in the first five minutes. But that was the end of that. In a choppy, low volume, lacklustre session the index proceeded to fall back to square by the close.
There appears little incentive to push the market to a new high at this point, with 7400 again a barrier. The likely reason is we have Australia’s CPI out tomorrow, a Fed statement on Thursday, a big week in the US earnings season and the first trickle of the local earnings season. All could be pivotal.