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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.