{"id":16926,"date":"2021-04-16T16:04:59","date_gmt":"2021-04-16T16:04:59","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=16926"},"modified":"2026-04-23T20:18:33","modified_gmt":"2026-04-23T23:18:33","slug":"james-packer-agrees-to-reduce-influence-over-crown-resorts","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/james-packer-agrees-to-reduce-influence-over-crown-resorts","title":{"rendered":"James Packer agrees to reduce influence over Crown Resorts"},"content":{"rendered":"\n

James Packer has agreed with the NSW regulator to step back from Crown Resorts to help the casino operator retain its Australian casino licences.<\/p>\n\n\n\n\n\n\n\n

Australia.- Crown Resorts’ key shareholder\u00a0James Packer<\/strong> has come to an agreement with the New South Wales regulator to reduce his influence over the casino operator.<\/p>\n\n\n\n

James Packer, who has a 37 per cent stake in Crown Resorts<\/strong>, must not share information with the company and cannot seek representation on the board <\/strong>or have private discussions with board members.\u00a0<\/p>\n\n\n\n

Former Supreme Court judge Patricia Bergin\u2019s report<\/a>\u00a0into Crown had criticised Packer’s influence over the company<\/strong>.\u00a0<\/p>\n\n\n\n

According to the report, he also had close involvement with the VIP gambling division<\/strong> and received information that was not available to other shareholders.<\/p>\n\n\n\n

The agreement does not refer to a possible sale of shares by Packer, although\u00a0the casino operator has received a non-binding offer from The Blackstone Group<\/a>, which already has a 10 per cent holding, to\u00a0acquire all remaining shares.<\/strong><\/p>\n\n\n\n

James Packer has shown some interest in selling his 37 per cent stake<\/a>\u00a0in Crown Resorts but\u00a0has stated that he will independently assess the merits of any proposal<\/strong>.<\/p>\n\n\n\n

Royal Commission starts inquiry into\u00a0Crown Resorts\u2019 suitability<\/strong><\/h2>\n\n\n\n

Western Australia’s Royal Commission has started to investigate Crown Resorts\u2019 suitability<\/a>\u00a0<\/strong>to continue holding a casino gaming licence for Crown Perth.<\/p>\n\n\n\n

The commission will also undertake a\u00a0comprehensive review of the state\u2019s regulatory framework for gaming.<\/strong><\/p>\n\n\n\n

An internal report<\/strong> is expected to be delivered by June 30 while the final report should arrive by November 14<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

James Packer has agreed with the NSW regulator to step back from Crown Resorts to help the casino operator retain its Australian casino licences.<\/p>\n","protected":false},"author":176,"featured_media":16927,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"James Packer has agreed with the New South Wales regulator to significantly reduce his influence over Crown Resorts, a critical step for the casino operator to retain its Australian licenses following criticisms from the Bergin report. This development occurs amidst a non-binding acquisition offer from The Blackstone Group and a separate Royal Commission inquiry in Western Australia into Crown Perth's license suitability and the state's regulatory framework.","focusai_entities":"James Packer, Crown Resorts, New South Wales regulator, Patricia Bergin, The Blackstone Group, Western Australia\u2019s Royal Commission","focusai_location":"Australia, New South Wales, Western Australia, Perth","focusai_target_profile":"ceo_executive (0.95), regulator (0.98), compliance_legal (0.92), operator_casino (0.88), investor_analyst (0.96), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Packer's Stake Future?","query":"What are the potential implications for Crown Resorts' share price and future ownership structure if James Packer proceeds with selling his 37% stake, particularly in light of The Blackstone Group's non-binding offer?"},{"label":"Regulatory Framework Impact?","query":"How might the findings and recommendations from Western Australia's Royal Commission, particularly regarding the state's regulatory framework for gaming, influence future licensing conditions and governance requirements for all Australian casino operators?"}],"footnotes":""},"categories":[16336,157,158],"tags":[14657],"class_list":["post-16926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","category-slider-home","tag-crown-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16926","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=16926"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16926\/revisions"}],"predecessor-version":[{"id":16960,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16926\/revisions\/16960"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16927"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=16926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=16926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=16926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}