{"id":10956,"date":"2020-10-15T22:48:19","date_gmt":"2020-10-15T22:48:19","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=10956"},"modified":"2026-04-24T00:56:00","modified_gmt":"2026-04-24T03:56:00","slug":"crown-resorts-investors-request-directors-resignation","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/crown-resorts-investors-request-directors-resignation","title":{"rendered":"Crown Resorts investors request directors\u2019 resignation"},"content":{"rendered":"\n

Some investors want several Crown Resorts directors to quit before next week\u2019s general meeting.<\/p>\n\n\n\n\n\n\n\n

Australia.- The scandal surrounding Crown Resorts could lead investors to oust the group’s directors following the NSW Independent Liquor & Gaming Authority (ILGA) hearing, which concluded last week. <\/p>\n\n\n\n

A group of investors has told Bloomberg they want Crown\u2019s directors to quit over the failures in governance exposed by the New South Wales inquiry. They want several long-serving directors to go before the company\u2019s general meeting takes place next week.  <\/p>\n\n\n\n

Louise Davidson, chief executive officer of the Australian Council of Superannuation Investors said: \u201cA number of long-serving directors should be considering their position in light of what has emerged.\u201d <\/p>\n\n\n\n

She said the findings of the inquiry \u201creflect poorly on the board as a whole.\u201d \u201cInvestors will be looking for director accountability,\u201d she added. <\/p>\n\n\n\n

A decision may depend on former director James Packer, since he still holds over 37 per cent of the company\u2019s shares. During his statement to the ILGA hearing, he said he would not return to the board<\/a><\/em><\/strong> and that it would now be more independent. <\/p>\n\n\n\n

Board members Jane Halton, John Horvath and Guy Jalland, who is the head of Packer\u2019s private investment company, are seeking re-election at the meeting on October 22. <\/p>\n\n\n\n

The ILGA inquiry, overseen by retired Supreme Court Judge Patricia Bergin, is deciding if the firm should keep the casino licence for the property it is building in Sydney, which is set to be inaugurated before the end of the year.  <\/p>\n\n\n\n

The decision of ILGA’<\/em><\/strong>s inquiry is expected for February 2021.\u00a0\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Some investors want several Crown Resorts directors to quit before next week\u2019s general meeting.<\/p>\n","protected":false},"author":2,"featured_media":10959,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Investors are demanding the resignation of several Crown Resorts directors ahead of next week's general meeting, citing governance failures exposed by the NSW Independent Liquor & Gaming Authority (ILGA) inquiry. The inquiry's findings, which reflect poorly on the board, are critical as ILGA determines if Crown will retain its casino license for its new Sydney property, with a decision expected in February 2021.","focusai_entities":"Crown Resorts, NSW Independent Liquor & Gaming Authority, Australian Council of Superannuation Investors, James Packer, Louise Davidson, Jane Halton, John Horvath, Guy Jalland, Patricia Bergin, Bloomberg","focusai_location":"Australia, Sydney, New South Wales","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.9), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"ILGA Decision Impact?","query":"What are the potential financial and operational ramifications for Crown Resorts if the NSW ILGA revokes or imposes stringent conditions on its Sydney casino license?"},{"label":"Board Accountability Measures?","query":"Beyond director resignations, what specific governance framework enhancements are investors demanding to restore confidence and ensure future regulatory compliance at Crown Resorts?"}],"footnotes":""},"categories":[16336,157],"tags":[289,14657,23728],"class_list":["post-10956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","tag-australia","tag-crown-resorts","tag-ilga"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=10956"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10956\/revisions"}],"predecessor-version":[{"id":777009180,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10956\/revisions\/777009180"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/10959"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=10956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=10956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=10956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}