GARETH PARKER | ‘It’s judgement day’ for James Packer and WA gaming
One of the country’s richest men, could be forced to sell down his stake in Crown Casinos after a report is released today.
James Packer owns 36 per cent of Crown, and while he no longer sits on the board he is still the majority owner.
Today a report will be handed down in New South Wales Parliament on whether Crown is fit to hold the license for a new casino in Sydney.
The $2.2 billion building has opened but without the casino.
Council assisting the Commission made submissions that Mr Packer should not have any involvement because the Melbourne casino had been a magnet for money laundering.
The report could recommend he be forced to sell down much of his stake potentially changing the direction of the Melbourne and Perth operations as well as Sydney.
6PR’s Gareth Parker said it’s not only a big day for James Packer but for Casino regulators here in WA.
“It’s judgement day for James Packer and Crown, but if there are damning findings, including allegations of money laundering of Crown Casino here in Perth, how could WA’s racing and gaming regulator fail to act?” Parker said.
“I think it is judgment day for them as much as James Packer and Crown.”
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(Photo: Getty Images.)