Business
Crown gave Packer secret profit forecast before $1.7b share sale – Sydney Morning Herald
Crown Resorts boss Ken Barton says the $1.7b share sale to Lawrence Ho’s Melco Resorts could have stopped the briefs to James Packer.
Mr Barton told the inquiry he did not know that deal was underway when he shared his profit forecasts, which he did as part of an arrangement intended to maintain a “strong relationship” with Mr Packer under a “controlling shareholder protocol”.
Under that agreement, Crown officers could only share information with Mr Packer if it was in the interests of Crown and had to consider whether doing so could be inappropriate or benefit others.
Counsel assisting the inquiry Adam Bell asked Mr Barton …
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