Business
James Packer might need to sell his Crown stake. Who will buy the tarnished casino giant? – ABC News
More change is coming for embattled casino giant Crown Resorts and key shareholder James Packer may need to radically reduce his stake.
A blockbuster report detailing Crown Resorts’ failings facilitating money laundering for criminal gangs, consorting with shady figures and failing to protect staff from imprisonment overseas has left the gambling giant vulnerable.
Key points:
- Commissioner Bergin’s scathing report continues to push change at Crown Resorts
- Key shareholder James Packer may need to sell down his stake
- Previous attempts at sale or privatisation have failed
Currently Crown has no chief executive and a $2.2 billion Sydney…
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