{"id":20090,"date":"2021-07-09T14:14:10","date_gmt":"2021-07-09T14:14:10","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=20090"},"modified":"2026-04-23T17:44:28","modified_gmt":"2026-04-23T20:44:28","slug":"crowns-board-overruled-helen-coonans-suggestions-inquiry-hears","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/crowns-board-overruled-helen-coonans-suggestions-inquiry-hears","title":{"rendered":"Crown&#8217;s board overruled Helen Coonan&#8217;s suggestions, inquiry hears"},"content":{"rendered":"\n<p>Helen Coonan, Crown Resorts&#8217; executive chairman, has said she was &#8220;overruled&#8221; by the casino&#8217;s board when she suggested former CEO Ken Barton resign last year.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Australia.- Victoria\u2019s Royal Commission into Crown Resorts has heard from the casino operator&#8217;s CEO <strong>Helen Coonan. <\/strong><\/p>\n\n\n\n<p>She told the inquiry that she had suggested former Crown CEO Ken Barton should resign last year after James Packer testified to New South Wales&#8217; inquiry into Crown&#8217;s suitability to hold its new Sydney casino licence last year. Coonan said she was &#8220;overruled&#8221; by Crown&#8217;s board.<\/p>\n\n\n\n<p><strong>Coonan said she was of the opinion that reform of the casino operator<\/strong>\u00a0couldn&#8217;t happen until most of the company\u2019s board had resigned.<\/p>\n\n\n\n<p>She said: &#8220;I became<strong>\u00a0increasingly concerned about the strategy<\/strong>\u00a0then as the evidence began to unfold, and I thought we needed to take a very different approach.&#8221;<\/p>\n\n\n\n<p>Former Supreme Court judge<strong>\u00a0Patricia Bergin <\/strong>found\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/ilga-crown-resorts-unsuitable-to-operate-barangaroo-casino\">Crown unsuitable<\/a>\u00a0to hold its licence for its second Sydney casino when she delivered her report from the inquiry in February.<\/p>\n\n\n\n<p><a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/crown-resorts-ceo-resigns\">Ken Barton<\/a>\u00a0resigned as Crown&#8217;s CEO the same month following board members\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/third-crown-resorts-board-member-steps-aside\">Guy Jalland, Michael Johnston and Andrew Demetriou<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>WA Royal Commission opens submissions to the public<\/strong><\/h2>\n\n\n\n<p><strong>Western Australia\u2019s Royal Commission<\/strong>&nbsp;has issued a media statement requesting information from the public about possible money laundering and improper conduct at&nbsp;<strong>Crown Perth<\/strong>.<\/p>\n\n\n\n<p>The Royal Commission said\u00a0<strong>it is seeking to engage with customers and their families<\/strong>, current and former Crown Perth employees and current and former government employees.<\/p>\n\n\n\n<p>The deadline to provide information is August 2.&nbsp;<strong>The second phase of the Commission\u2019s inquiry will resume on Friday, 23 July<\/strong>, with witnesses to be called from Monday, 26 July.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Crown Resorts and Star Entertainment possible merger<\/strong><\/h2>\n\n\n\n<p>In the last week of June,\u00a0<strong>Crown Resorts<\/strong>\u00a0CEO\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/crown-resorts-announces-steve-mccann-as-new-ceo\">Steve McCann<\/a>\u00a0met with The Star Entertainment CEO Matt Bekier to talk about the potential merger of the two casino operators.<\/p>\n\n\n\n<p>Although more details of the virtual meeting have not been released, according to local media,\u00a0<strong>McCann could be willing to work on a deal\u00a0<\/strong>and may have asked Star to provide more details about its offer for Crown.<\/p>\n\n\n\n<p>In May, <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/crown-receives-acquisition-offer-from-the-star-entertainment\">The Star Entertainment<\/a>\u00a0<strong>made an unsolicited non-binding offer of AU$12bn<\/strong>\u00a0<strong>(US$9.4bn)<\/strong>. If Crown Resorts accepts the offer,\u00a0<strong>Crown shareholders could retain 59 per cent of the shares<\/strong>\u00a0while Star shareholders could own 41 per cent of the newly-merged entity.<\/p>\n\n\n\n<p>Star Entertainment\u00a0said the fusion would\u00a0<strong>deliver between AU$150m to AU$200m of cost synergies\u00a0<\/strong>per annum with an\u00a0<strong>estimated net value of AU$2bn<\/strong>.<\/p>\n\n\n\n<p>The\u00a0<strong>Australian Competition and Consumer Commission (ACCC)<\/strong>\u00a0chairman, Rod Sims said a public review would be carried out to decide whether\u00a0Star Entertainment\u00a0would be allowed to make the acquisition.<\/p>\n\n\n\n<p>Sims noted that the potential<strong>\u00a0merger would result in a casino giant\u00a0<\/strong>with operations in the main Australian states.\u00a0<\/p>\n\n\n\n<p>There\u2019s been speculation that a potential merger could prompt a\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/stars-bid-for-crown-reopens-debate-on-gambling-industry\">new independent casino authority<\/a>\u00a0in NSW, which would likely ban junkets and demand enhanced requirements for suitability.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Helen Coonan, Crown Resorts&#8217; executive chairman, has said she was &#8220;overruled&#8221; by the casino&#8217;s board when she suggested former CEO Ken Barton resign last year.<\/p>\n","protected":false},"author":176,"featured_media":20091,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Crown Resorts' executive chairman, Helen Coonan, revealed internal board conflicts regarding former CEO Ken Barton's resignation amidst ongoing Royal Commissions in Victoria and Western Australia investigating the operator's suitability and potential misconduct. Concurrently, a proposed AU$12bn merger between Crown Resorts and The Star Entertainment is under review by the ACCC, with potential for significant market consolidation and new regulatory frameworks in NSW.","focusai_entities":"Helen Coonan, Crown Resorts, Ken Barton, James Packer, Patricia Bergin, Guy Jalland, Michael Johnston, Andrew Demetriou, WA Royal Commission, Crown Perth, Steve McCann, The Star Entertainment, Matt Bekier, Australian Competition and Consumer Commission (ACCC), Rod Sims","focusai_location":"Australia, Victoria, New South Wales, Sydney, Western Australia, Perth","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (1.0), product_ux (0.7), tech_data (0.7), marketing_crm (0.7), payments_fraud_aml (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Crown Governance Impact","query":"How will the ongoing Royal Commissions' findings on Crown Resorts' governance failures and suitability impact its existing licensing across all Australian jurisdictions, irrespective of the proposed merger?"},{"label":"Merger Regulatory Hurdles","query":"What specific regulatory concessions or divestitures might the ACCC demand from The Star Entertainment to approve the proposed merger, given the potential for significant market concentration in key Australian states?"}],"footnotes":""},"categories":[16336,156],"tags":[14657],"class_list":["post-20090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-regulation-news","tag-crown-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/20090","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=20090"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/20090\/revisions"}],"predecessor-version":[{"id":20115,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/20090\/revisions\/20115"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20091"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=20090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=20090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=20090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}