Face of Nation : Crown Resorts will co-operate with a NSW inquiry into James Packer’s sale of Crown shares to a Macau-based entertainment company.
The NSW Independent Liquor & Gaming Authority is investigating the sale of 19.99 per cent of Crown Resorts shares owned by Consolidated Press Holdings – Mr Packer’s private investment company – to Melco Resorts and Entertainment for $1.76 billion in May. The authority on Thursday said the sale is “apparently yet to be finalised” and served Crown with compulsory orders seeking documents and information over the proposed sale.
The public inquiry will look into the management and operation of the casino ensuring that it remains free from criminal influence or exploitation and that gaming is conducting honestly. It follows recent media reports in Nine’s publications of money laundering allegations relating to Crown, the authority said in a statement. Crown is building a casino and luxury resort in Sydney’s Barangaroo, which is set to open in 2021.
